Tadawul Review:

Tadawul All Share Index (TASI) rose on Thursday’s session, rising by 43 points (+0.4%) to close at the 11,932 level. TASI began the session on a positive note, gaining 7 points initially, and continued on an upward trend throughout the session to close at its intraday high. Overall, 15 out of 20 sectors closed in the green zone, while 123 shares rose and 88 fell. Banks (+0.2%), Utilities (1.7%), and Materials (+0.4%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank (+0.6%), ACWA Power (+2.0%), and Maaden (+2.2%) were the major contributors. The trading activity witnessed a decline in volume and value of -13% and -9%, respectively, to reach 244mn shares and SAR7.2bn in value traded.

 

 

 

Market Wrap International:

In the U.S., the S&P 500 closed lower by -0.3%, with 9 of eleven ‎listed sectors falling ,as the market speculated on increasingly aggressive interest rate cuts stretching a rally in U.S. stocks and bonds, while the dollar fell to five-month lows. The Nasdaq Composite fell by -0.6% as Crude futures lost over 10% in 2023 in a tumultuous year of trading marked by geopolitical turmoil and concerns about the oil output levels of major producers around the world.

In Europe, markets closed the year on a positive note, with the Stoxx Europe 600 index ending December with a gain of over 4%, rising by 0.2% on the final day. Concerns regarding shipping disruptions on the Red Sea route subsided, even as tensions in the Middle East continued to escalate. Additionally, the FTSE 100 index saw a slight rise of 0.1%.

In Asia, the Japanese indices rose TOPIX (+0.2%) while the Nikkei 225 (-0.2%) on Friday as Japan's export-dependent economy faced a clouded outlook as factory output in November declined, primarily due to decreases in automobile production., while in China, the Shanghai Composite index saw a decline of +0.7%.