2023-11-22
Daily Market Monitor 22-11-2023
Tadawul All Share Index (TASI) rose slightly on Tuesday’s session, up by +10 points to close at the 11,129 levels. TASI opened the session unchanged and continued to be volatile during the session until the end. Overall, 11 out of 20 sectors closed in the green zone, while 85 shares rose and 121 fell. Banks (+0.5%), Food and Beverages (+1.8%), and Utilities (+0.3%) sectors contributed the most to the index's rise. Stockwise, Al Rajhi Bank (+0.7%), Riyad Bank (+1.6%), and Almarai (+2.4%) were the major contributors. The trading activity witnessed a decline in volume and value of -3% and -23%, respectively, to reach 266 shares and SAR5.5bn in value traded.
In the U.S., stocks fell on Tuesday’s session with the prevailing belief persists that the U.S. Federal Reserve has likely done its interest rate hikes. The S&P 500 closed down by -0.2%, seven of the eleven listed sectors fell, and the Nasdaq Composite edged down by -0.6%, while the oil futures fell as investors maintained vigilance ahead of the OPEC+ meeting, where they may discuss the possibility of deepening supply cuts due to the slowdown in global growth.
In Europe, The Stoxx Europe 600 declined of -0.1% due to lower oil prices put pressure on energy stocks. Similarly, the FTSE-100 index also saw a decline of -0.2% as the borrowing situation in Britain has created an opportunity for potential tax cuts before an important budget update scheduled for this week.
In Asia, the chinese indices fell (Shanghai Composite: -0.01%, Hang Seng: -0.2%) following the initiation of drafting a list comprising 50 real estate companies aiming to provide various forms of financing to support the property in Beijing, despite the Japanese shares reached a 30-year high the stocks dropped by (Topix: -0.2%, Nikkei 225: -0.1%), with rising in Yen and a slip in the dollar as traders eyed interest rate tweaks.
Daily Market Monitor 22-11-2023
Download Arabic file
