Tadawul Review:

Tadawul All Share Index (TASI) underwent yet another ‎volatile session and fell ‎‏64‏‎ points (-0.54%) on ‎Thursday at ‎‎11,829.5 The fluctuations of global markets remained a key ‎reason for the index's performance with the drop in oil prices ‎during the trading hours also adding to the pressure. ‎The ‎index opened positive and maintained its momentum to ‎make an intraday high of 96 points. The index began a ‎gradual decline till the closing auction. In the post close trade, ‎the index made a sharp decline of 78 points. 19 out of 20 ‎sectors closed in the red, while the ratio of advance to ‎decliners was 1.8:1. Materials (-1.4%), energy (-1.3%) and ‎banking (-0.2) were the major drags, The ‎index declined, ‎down 47 points. . As for the shares, Aramco (-1.4%), Al-Rajhi ‎Bank (-1.0%) and SNB (-1.5%) had the greatest impact on ‎the decline in the index. In general, the trading value ‎‎increased by +29% to reach 7 billion riyals, and the trading ‎volume increased by +33% to reach 162 ‎million shares ‎compared to the previous day.‎ The investors are likely to ‎stay cautious next week given the recent volatility and the ‎announcement of much-anticipated policy rate in the U.S ‎due next week.‎

 

 

Market Wrap International:

The global equity markets closed a volatile week on a somber ‎note ahead of FedWeek (FOMC decision due on 21st). ‎Markets have reeled under the weight of a major negative ‎surprise in the form of upside beat in CPI data in the U.S last ‎week. Friday’s session failed to shape up to be any different. ‎Additional drag to markets came from the term expiry of ‎various derivative contracts and readjustment of benchmark ‎indices. In the U.S, the latest earnings guidance from Feedex ‎further added to investors' anxiety. The major indices, S&P ‎‎500 Index and Nasdaq Composite dropped by 0.7-0.9% with ‎tech names once again in the lead. For the week, the two ‎indices have dropped by 4.8% and 5.5% respectively. ‎

In Europe, the Stoxx Euro 600 Index lost another 1.6% to cap ‎the week with a significant 3% loss. Outflow from equity funds ‎invested in the region for the 31 straight week , combined with ‎expectations of a more hawkish central bank post the data ‎release in the U.S has added to negative momentum. U.K ‎retail sales data showed a drop, way ahead of consensus ‎expectations.‎

In Asia, all major markets once again closed in the red as ‎concerns on currency and global growth outlook weighed on. ‎Shanghai Composite (2.3%) in China and Sensex (-1.8%) in ‎India were the major losers for the day. ‎‎