Tadawul Review: 

The Tadawul All Share Index (TASI) fell on Monday’s session, falling by -33 points (-0.3%) to close at the 12,252 level. TASI began the session on a positive note, gaining 6 points initially and reached its intraday high in the first trading hour. However, TASI started to decline gradually throughout the session until the end. Overall, 10 out of 20 sectors closed in the red zone, while 113 shares fell and 106 rose. Banks (-0.7%), Telecom (-1.3%), and Materials (-0.4%) sectors contributed the most to the index fall. Stockwise, Saudi National Bank (-1.8%), Saudi Awwal Bank (-2.7%), and Alinma Bank (-1.6%) were the major contributors. The trading activity witnessed an increase in volume by +6% to reach 403 million shares, while declined by -5% in value to reach SAR8.9 billion in value traded.

 

 

 

Market Wrap International:

In the U.S., the S&P 500 saw a gain of +1.4%, with 10 out of 11 sectors rising and the Nasdaq Composite rose by +2.2%, while treasuries remained stable as traders adjusted their positions following last week's selloff. Additionally, Brent crude oil dipped below the $77 per barrel.

In Europe, The STOXX 600 index rebounded on Monday, recovering some of its losses from the unfavorable start to the year. Technology and retail stocks spearheaded the gains, while energy shares struggled due to a decline in crude oil prices. The FTSE 100 was slightly up by +0.1%.

In Asia, investors betting on a revival in Chinese stocks in the new year are seeing their resolve tested as the Hang Seng index ended negatively by -1.9%, and the Shanghai Composite index saw a decline of -1.4%. The Japanese indices were closed on Monday.