Tadawul Review:

Tadawul All Share Index (TASI) ended the session on Tuesday up by +47 points (+0.4%) to close at the 12,071 level. TASI opened the session with a gains of 11 points but started to decline gradually reaching its intraday low before bouncing back to close at its high. In general, 17 out of 20 sectors closed in the green zone, while 135 shares rose and 80 fell.  Banks (+1.7%), Health care equipment and services (+3.8%), and Insurance (+2.2%) sectors contributed the most to the index rise. Stockwise, Aramco (+1.8%), ACWA Power (+1.3%), and Almarai (+2.4%) were the major contributors. The trading activity witnessed an increase in volume and value of +9% and +15%, respectively, to reach 321mn shares and SAR9.4bn in value traded.

 

 

 

Market Wrap International:

In the U.S., Federal Reserve officials are set to speak this week, providing insights into the central bank's thinking as investors are analyzing mixed earnings reports. The S&P 500 recorded gains of +0.2% for the day, with 9 out of 11 sectors rising, driven by Materials sector. Similarly, the Nasdaq composite also saw a modest gain of 0.1%.

In Europe, The Stoxx Europe 600 index closed positively on Tuesday by 0.6% despite the inflation expectations among euro zone consumers, signaling the impact of the European Central Bank's efforts to tighten credit. At the same time, the FTSE 100 rose by +0.9%, snapping a Four-session losing streak.

In Asia, the markets rose as China's markets rallied on potential government intervention, and U.S. Treasury yields leveled off after a recent bounce back. However, the Hang Seng Index jumped by +4.0% and the Shanghai Composite Index rose by 3.2%.  In Japan, the TOPIX index declined by -0.7% and the Nikkei 225 fell by -0.5%.