Tadawul Review:

Tadawul All Share Index (TASI) rose on Tuesday, up by +25 points (+0.2%) to close at 12,395 levels. TASI started positively with a 32-point gain, and the index continued to rise steadily until the end of the trading day. In general, 17 out of 21 sectors closed in the green zone, and 187 shares rose while 36 fell. Real Estate (+3.1%), Utilities (+1.0%), and food and beverages (+1.0%) sectors contributed the most to the index rise. Stockwise, Makkah Construction (+7.9%), Jabal Omar (+2.9%), and ANB (+1.8%) were the major contributors. The trading activity witnessed a decline in volume and value of -12% and -9%, respectively, to reach 278mn shares and SA7.5bn in value traded.

 

 

 

Market Wrap International:

The S&P 500 experienced a decline of -1.6% and Nasdaq composite was down -2.0% as investors eagerly awaited the Federal Reserve's decision on interest rates, expected tomorrow. Following the market close, the positive sentiment among investors was reinforced by better-than-expected earnings from Amazon.

In Europe, The Euro Stoxx 600 and FTSE 100 fell by -0.7% and -0.04% respectively, as positive Eurozone data which showed growth in the economy and comments from ECB policymakers with the possibility of interest rate cuts in June buoyed investor sentiment and confidence soared.

In Asia, the SHCOMP fell by -0.3%, while the Hang Seng index rose by 0.1% as growth slowed in China's manufacturing and services sectors in April. In Japan, both the TOPIX and NIKKEI 225 indices gained, with TOPIX by 2.1% and NIKKEI 225 by 1.2%.