Tadawul Review:

Tadawul All-Share Index (TASI) closed positively for the fifth ‎day in a row, rising +37 points (+0.4%) to close at 10,448 ‎levels. TASI index witnessed a volatile session between profits ‎and losses on Monday, as it opened the session positively, up ‎‎+10 points from the previous close, but then retreated to ‎record its intraday low, down by 14 points, and went through ‎fluctuations throughout the trading hours until it reached its ‎intraday high in the closing auction. In general, 14 out of 20 ‎sectors closed in the green zone, while 112 stocks rose and ‎‎89 fell. Banks (+0.4%), Materials (+0.3%), and Telecom ‎‎(+0.9%) sectors contributed the most to the index's rise of ‎‎+23 points. Stock-wise, Al Rajhi Bank (+0.7%), Riyad Bank ‎‎(+2.5%), and Saudi National Bank (+0.5%) contributed most ‎to the rise of the index. The trading activity witnessed an ‎increase in volume and value by 47% and 27%, respectively, ‎to reach 168mn shares and SAR4.2bn.‎

 

 

Market Wrap International:

The global equity indices moved in divergent directions on ‎Monday amid cautiousness over latest job reports in the U.S ‎and fading optimism associated with the introduction of fresh ‎stimulus measures in China. The 3-mth Libor is the latest ‎interest rate benchmark to have captured the headlines as it ‎crossed the 5% mark for the first time in over 15 years. The ‎treasury yields in the U.S remained on retreat. The S&P 500 ‎was up 0.1% and the Nasdaq Composite was down 0.1%. Six ‎out of 11 sectors in the S&P 500 closed in the green.‎

In Europe, the Stoxx Europe 600 Index closed with minor ‎losses. Mining and energy names were the major ‎underperformers while travel, leisure, and retail outperformed ‎the benchmark. CAC40 in France briefly touched a fresh high ‎before partially paring intraday gains. Other country level ‎indices barring FTSE-100 (-0.2%) also advanced.‎

In Asia, the latest GDP growth target set by the National ‎People’s Conference in its annual meeting failed to meet ‎market’s optimism over fresh economic support measures. ‎Resultantly, Shanghai Composite (-0.2%) buckled the broader ‎positive trend (+0.2-1.3%) in other major equity indices. Tech ‎stocks emerged as the major performer and supported the ‎outperformance moves in tech-heavy indices.‎