Tadawul Review:

Tadawul All-Share Index (TASI) ended Thursday's session ‎higher for the sixth consecutive session. The index added +13 ‎points (+0.1%) to close at 10,822 levels, its highest level since ‎the beginning of the year. TASI had opened the session ‎positively, with a slight increase of +5 points, and it went ‎through intraday volatility, a trend which has characterized ‎trading in TASI for most of the foregoing week. In general, 11 ‎sectors out of 20 closed in the green zone, while 116 stocks ‎rose and 83 fell. Banks (+0.6%), Health care equipment and ‎services (+1.2%), and Insurance (+1.7%) sectors led the index ‎gains, while Food and beverages (-2.2%), Energy (-0.5%), and ‎Materials (-0.2%) were the major drags on the index. Among ‎stocks, Al Rajhi Bank (+1.4%), Maaden (+1.4%), and Banque ‎Saudi Fransi (+1.1%) contributed most to the rise of the ‎index. The trading activity witnessed a decline in the volume ‎and value of trading by 13% and 10%, respectively, to reach ‎‎126mn shares and SAR3.7bn. The index is likely to a exhibit ‎similar range-bound trend in the near-term.‎

 

 

 

Market Wrap International:

The global equity markets surged on Friday amid divergent ‎drivers at play across the regions. The much-anticipated ‎inflation data, Personal Consumption Expenditure (PCE), a ‎Fed’s favorite inflation indicator came close to expectations, ‎triggered a rally in the key benchmarks in the U.S. The S&P ‎‎500 and Nasdaq Composite Indices moved up ‎‏0.2‏‎% and ‎‏0.9‏‎% ‎on Friday. The rally was particularly led by tech names on ‎combination of risk-on sentiment and Dec-end results. ‎‏6‏‎ out of ‎‏11‏‎ listed sectors at S&P 500 closed higher.‎

In Europe, the benchmark Stoxx Europe 500 Index managed ‎to deliver a positive return of 0.3% on Friday ahead of the data ‎release in the U.S. Investors have become cautious ahead of ‎the FOMC meeting due next week. ‎

 

In Asia, markets broadly moved higher for the sixth straight ‎session amid focus on Dec-end results and the embattled ‎Adani Group in India.  Key gauges in the region were up 0.2-‎‎0.6%. Sensex in India fell 1.5%, mainly dragged by listed stocks ‎of Adani Group. markets in China were closed for the New ‎Year holiday.  ‎