2024-12-31
Daily Market Monitor 31-12-2024
Tadawul All Share Index (TASI) rose on Monday, gaining 108 points (+0.9%) to close at 12,001. The trading session began positively, rising by 4 points compared to the previous close, and continued to gradually increase until the end of the session. In general, 16 out of 21 sectors closed in the green zone, and 172 shares rose while 65 fell. Banks (+1.5%), Utilities (+2.2%), and Food and beverages (+2.0%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank (+2.1%), ACWA Power (+2.7%), and Almarai (+3.1%) were the major contributors. The trading activity witnessed an increase in volume and value by 16% and 46% respectively, to reach 393mn shares and SAR5.1bn in value traded.
Market Wrap International:
U.S. stock index futures dipped on Monday evening following a sharp decline in Wall Street, driven by profit-taking after a strong year. Stocks closed lower, with losses in the Consumer Goods, Basic Materials, and Healthcare sectors leading the downturn. The NASDAQ Composite fell by -1.2%, the S&P 500 dropped by -1.1%, and the Dow Jones Industrial Average declined by -1%.
European stocks saw modest declines on Monday, with investors retreating from equities at the close of a year that has been beneficial for some regional markets. The CAC 40 fell by -0.6%, the Euro STOXX 600 slipped by -0.5%, and both the FTSE 100 and DAX declined by -0.4% each.
Asian stocks edged lower in light holiday-season trading volumes as the strong rally in technology shares slowed down in the final sessions of 2024. Major indices such as the SHCOMP rose by 0.2%, while the NIKKEI 225 dropped by -1%. Meanwhile, both the KOSPI and Hang Seng declined by -0.2%.
Daily Market Monitor 31-12-2024
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