Tadawul Review: 

Tadawul All Share Index (TASI) fell on Wednesday, down by -34 points (-0.3%) to close at 12,466 levels. TASI started the session positively, opening with gains of 18 points but then started to decline gradually until the end. In general, 14 of 21 sectors closed in the red zone, and 130 shares fell while 97 rose. Banks (-0.4%), Telecom (-1.7%), and Health care equipment and services (-1.6%) sectors contributed the most to the index fall. Stockwise, SNB (-1.8%), Mobily (-3.4%), and Sulaiman Al Habib (-1.8%) were the major contributors to the index’s fall. The trading activity witnessed a decline in volume and value of -1% and -7%, respectively, to reach 367mn shares and SAR9.6bn in value traded.

 

 

 

Market Wrap International:

The U.S. market witnessed a downturn as both the S&P 500 and Nasdaq Composite recorded declines of -0.6% and -1.1%, respectively, as apprehensions regarding persistently high interest rates in major economies resurfaced following Powell's indication of a delay in rate cuts. Concurrently, gold prices experienced an upward surge, approaching levels close to all-time highs.

In Europe, the Euro Stoxx 600 index saw an increase of 0.1% as investors maintained a cautious outlook on developments in the Middle East. Conversely, the FTSE 100 index showed a rise of 0.4%. Meanwhile, the inflation rate in Britain slowed down in March at a rate slower than expected.

In Asia, the SHCOMP experienced a notable increase of 2.1%, and the Hang Seng index saw a slight rise of 0.02%. Concerns regarding prolonged high interest rates and geopolitical tensions contributed to losses across the region. In Japan, both the TOPIX and NIKKEI 225 indices recorded losses of 1.3%.