Tadawul Review:

Tadawul All Share Index (TASI) rose on Sunday, gaining 58 points (+0.5%) to close at 11,900 levels. Overall, the index showed positive performance throughout the day. It began its upward trend within the first 30 minutes after opening, reaching its peak early on. Despite encountering selling pressures later, the index managed to sustain its positive trajectory until the closing auction. In general, 17 out of 21 sectors closed in the green zone, and 138 shares rose while 80 fell. Banks (+0.7%), Utilities (+1.7%), and Food and beverages (+0.9%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank (+1.1%), ACWA Power (+2.2%), and Aramco (+0.4%) were the major contributors. The trading activity witnessed a decrease in volume and value of -59% and -36%, respectively, to reach 257mn shares and SAR4.1bn in value traded.

 

 

 

Market Wrap International:

 As a weekly average, U.S. indices saw varied performance: The S&P 500 rose by 0.5%, the Dow Jones increased by 0.2%, and the NASDAQ gained 0.9%. This Wednesday, September 18, 2024, the Fed will announce its decision on interest rates.

European indices saw a weekly decline, with the FTSE 100 down by -0.4% and both the DAX and CAC falling by -1% each. The EURO STOXX 600, decreased by -0.9%. This Thursday, September 19, 2024, the Bank of England will announce its interest rate decision.

 

As a weekly average, major Asian indices experienced notable declines: the SHCOMP fell by -2.4%, the KOSPI decreased by -2.5%, and the Hang Seng dropped -1.8%. The NIKKEI 225 and TOPIX saw larger reductions, down -3.24% and -3.39% respectively. This week, the Bank of Japan (BoJ) will reveal its interest rate decision, which will influence Japan's economic conditions.