Tadawul All Share Index (TASI) fell on Sunday, dropping 125 points (-1.1%) to close at 11,053. The index opened 17 points below its previous close, then saw slight fluctuations in the negative territory before beginning to decline after mid-session and breaking below the 11,100 level. Overall, 21 out of 21 sectors closed in the red zone, while 228 shares fell and 27 rose. Banks (-0.7%), Energy (-1.1%), and Telecommunications (-2.1%) sectors contributed the most to the index fall. Stockwise, Aramco (-1.1%), Al Rajhi Bank (-0.7%), and Saudi National Bank (-1.3%) were the major contributors. The trading activity witnessed a decrease in volume and value of -5% and -32%, respectively, to reach 157mn shares and SAR2.6bn in value traded.
Market Wrap International:
Global markets ended last week on a restrained footing as a series of hawkish Federal Reserve remarks tempered expectations for near-term policy easing, pushing yields higher and weighing on risk appetite. The reopening of the U.S. government removed a near-term source of uncertainty, but momentum remained muted as investors reassessed the trajectory of inflation, growth, and corporate earnings. Persistent softness in China’s economic data and renewed concerns over global demand further constrained sentiment across regions, leaving markets cautious heading into the new week.