Tadawul Review:

Tadawul All Share Index (TASI) rose for the fifth day on Wednesday, up by +4 points (+0.04%) to close at 11,784 levels. TASI started the session negatively, opening with a fall of -2 points, but then displayed fluctuations throughout the session until it closed. In general, 13 out of 21 sectors closed in the green zone, and 126 shares rose while 93 fell. Utilities (+0.9%), Food and beverages (+0.8%), and Insurance (+0.9%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+1.0%), Elm Co. (+2.5%), and Savola (+2.2%) were the major contributors. The trading activity witnessed an increase in volume by 1% to reach 211mn while the value decreased by -1% to reach SAR5.2bn value traded.

 

 

Market Wrap International:

In US Markets, investors have allocated $26.9 million to ETFs designed to provide protection against stock volatility with VIX index-based derivatives. Dow Jones Industrial Average up 1.1%. The S&P 500 increased by 1.0%. Nasdaq Composite advanced to 1.2%.

European stock markets showed a mixed performance on Wednesday. Major indices such as the FTSE 100 and Euro STOXX600 saw modest gains of 0.7%, 0.9% respectively, supported by positive economic data and corporate earnings. However, concerns over geopolitical tensions and inflationary pressures limited broader market gains.

Asian stock markets had a mixed day on Wednesday, as comments made during a congressional session did little to alter expectations among investors about the timing of potential interest rate cuts by the Federal Reserve. The major Asian indices showed varied performance with the KOSPI remaining unchanged, the Nikkei 225 gaining by 0.6%, and Chinese indices were down.