2023-11-19
Daily Market Monitor 19-11-2023
Tadawul All Share Index (TASI) rose for the third day, rising by +59 points (+0.5%) to close at the 11,082 levels. TASI began the trading session on a negative note by 8 points and continued to rise throughout the session to close at intraday high. Overall, 17 out of 20 sectors closed in the green zone, while 143 shares rose and 70 fell. Materials (+0.8%), Real Estate (+3.2%), and Banks (+0.3%) sectors contributed the most to the index rising. Stockwise, Al Rajhi Bank (+0.7%), Aramco (+0.5%), and Saudi Awwal Bank (+2.5%) were the major contributors. The trading activity witnessed an increase in volume by +2% to reach 247mn shares, while the value decreased by -7% to reach SAR6.5bn in value traded.
In the U.S., the S&P 500 surged higher on Friday by +0.1%, with six of the eleven listed sectors rising, extending its winning streak for the third consecutive week, and the Nasdaq Composite rose by +0.1% as part of an impressive rally in November. The yields of U.S. two-year Treasury bonds fell below 4.80%, marking the first time since September 1st. Oil prices rebounded from a four-month low, with U.S. crude and Brent jumping 4% on the day
In Europe, the Stoxx Europe 600 was up by +1.0% as confidence grew that the easing of inflationary pressures would pave the way for central banks to adopt more accommodative monetary measures in the coming year. The FTSE-100 index rose by +1.3% as UK retail sales unexpectedly fell in October, raising economic concerns.
In Asia, markets rose, with Chinese index Shanghai Composite: +0.1% while Hang Seng: -2.1%. as the central bank and financial regulators vowed to support the property sector and tackle local government debt risks. The benchmarks in Japan showed a positive performance (Topix: 0.4%9 and Nikkei 225: 0.5%), aided by the Bank of Japan's affirmation of its loose policy.
Daily Market Monitor 19-11-2023
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