Tadawul Review:

The Tadawul All Share Index (TASI) fell for the fourth day of the session on Thursday, falling by -153 points (-1.3%) to close at the 11,499 level. TASI started the session positively, opening with gains of +22 points but then displayed fluctuations throughout the session until it closed at its lowest level during the session. Overall, 18 out of 21 sectors closed in the red zone, while 165 shares fell and 62 rose. Banks (-0.8%), Utilities (-4.5%), and Energy (-2.0%) sectors contributed the most to the index fall. Stockwise, Aramco (-2.1%), ACWA Power (-5.3%), and Al Rajhi Bank (-1.0%) were the major contributors. The trading activity witnessed a decrease in volume by -24% to reach 403mn while the value increase by 6% to reach SAR11.0bn value traded.

 

 

 

Market Wrap International:

The U.S. stock market closed marginally lower on Friday, with both the S&P 500 and Nasdaq Composite experiencing losses of -0.2%, respectively. These declines were primarily driven by a second consecutive day of decline in Nvidia shares, which had a negative impact on the technology sector.

In Europe, European stocks finished Friday on a down note following data that showed the eurozone's nascent economic recovery unexpectedly slowed in June, weighed down by weakness in the manufacturing sector. The Euro Stoxx 600 and FTSE 100 both experienced declines of -0.7% and -0.4%, respectively.

In Asia, the markets experienced a low performance, as reflected by the decrease in the SHCOMP index in China by -0.2%. Additionally, in Japan, the TOPIX index decreased by -0.03%, and the NIKKEI 225 index slipped by -0.1%. This decline in Japan's market came after the government reported that the inflation rate had ticked higher for the first time in three months, reaching 2.5% in May, up from 2.2% in April.