Tadawul Review:

Tadawul All Share Index (TASI) continued to rise for the ‎sixth consecutive session on Tuesday, gaining 81 points ‎‎(+0.7%) to close at 12,104. The index opened on a positive ‎note, rising by 12 points from the previous close, and then ‎continued to rise gradually throughout the session until the ‎end. Overall, 14 out of 21 sectors closed in the green zone, ‎and 127 shares rose while 89 fell. Banks (+1.6%), Materials ‎‎(+0.5%), and Food and beverages (+0.9%) sectors contributed ‎the most to the index rise. Stockwise, Al Rajhi Bank (+2.7%), ‎Saudi National Bank (+2.0%), and Alinma Bank (+2.4%) were ‎the major contributors. The trading activity witnessed an ‎increase in volume and value of 1% and 9%, respectively, to ‎reach 349mn shares and SAR8.7bn in value traded.‎

 

 

 

Market Wrap International: 

U.S. stocks edged lower on Tuesday as investors anticipated potential hints of an interest rate cut from Federal Reserve Chairman Jerome Powell in his upcoming speech. Energy shares underperformed due to falling global oil prices. Market sentiment was cautious, with investors awaiting key eurozone economic data for further direction. The S&P 500 and the Dow Jones Industrial Average both fell by -0.2%, while the Nasdaq Composite decreased by -0.3%.

European shares edged down, but investors were cautious, avoiding major investments before crucial euro zone data is released. Energy stocks underperformed the market, influenced by a drop in global oil prices. The CAC 40 decreased by -0.2%, the DAX fell by -0.3%, and the FTSE 100 fell by -1%, indicating a generally negative trend across European markets.

 

Asian investors proceeded with caution following a recent surge in optimism driven by expectations that Federal Reserve Chairman Jerome Powell might indicate a potential interest rate cut in his much-anticipated speech to leading central bankers later this week. The NIKKEI 225 saw an increase of 1.8%, the Shanghai Composite experienced a decline of -0.9%, while the KOSPI rose by 0.8%.