Tadawul Review:

Tadawul All Share Index (TASI) rose on Wednesday, gaining ‎‎35 points (+0.3%) to close at the 11,921 level. TASI started ‎the session negatively, opening with a fall of 20 points, but ‎then gradually increased until the end of the session. In ‎general, 15 out of 21 sectors closed in the green zone, and ‎‎140 shares rose while 81 fell. Banks (+0.8%), Materials ‎‎(+0.4%), and Real Estate‎‎ (+0.9%) sectors contributed the ‎most to the index rise. Stockwise, Saudi Awwal Bank (+4.3%), ‎Al Rajhi Bank (+0.3%), and Saudi National Bank (+0.7%) were ‎the major contributors. The trading activity witnessed a ‎decrease in volume and value by -15% and -1%, respectively, ‎to reach 366mn shares and SAR5.6bn in value traded.‎

 

 

 

Market Wrap International: 

Stocks briefly reached all-time highs during a rally, but momentum slowed when the Federal Reserve signaled that it’s not ready to ease monetary policy after a half-point rate cut. The S&P 500 and Nasdaq Composite both dropped by -0.3%, while the Dow Jones Industrial Average slipped by -0.2%.

European markets experienced a downturn as investors digested crucial regional data ahead of the U.S. Federal Reserve's impending interest rate decision. The DAX in Germany toppled by -0.1%, the FTSE 100 recorded a decline of -0.7%, and the CAC 40 in France decreased by -0.6%.

 

In Asia, stocks remained largely in a narrow trading range as investors waited for the outcome of the Federal Reserve meeting, where a rate cut is widely expected. Key indices reflected mixed results, with the NIKKEI 225 gaining 0.5%, and the SHCOMP also showing positive movements of 0.5%.