Tadawul Review:

Tadawul All Share Index (TASI) rose on Monday, up by +41 points (+0.3%) to close at 12,708 levels. TASI initially started with a slight decline of -1 point, then displayed fluctuations throughout the session until the market closed. In general, 15 out of 21 sectors closed in the green zone, and 172 shares rose while 54 fell. Utilities (+5.7%), Materials (+0.4%), and food and beverages (+1.1%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+6.8%), Saudi Electric (+2.5%), and Mouwasat (+3.0%) were the major contributors. The trading activity witnessed an increase in volume and value of 43% and 55%, respectively, to reach 347mn shares and SA9.7bn in value traded.

 

 

 

Market Wrap International:

in the U.S. market, the S&P 500 fell by -1.2% and the Nasdaq composite declined by -1.8% as worries about persistent inflation and the strengthening U.S. dollar have raised doubts about the Federal Reserve's potential for significant interest rate cuts compared to other central banks.

In Europe, shares inched up on Monday, with the Euro Stoxx 600 rising by 0.1% as risk sentiment wavered due to Iran's retaliatory attack on Israel. The attack heightened concerns about a potential escalation in the region, keeping traders on edge. The FTSE 100 fell by -0.4%.

In Asia, Japanese indices fell with TOPIX (-0.2%) and NIKKEL 225 (-0.7%) as the Bank of Japan adopted a more flexible policy approach, placing less focus on inflation after the central bank's decision in March to conclude an unconventional stimulus program. SHCOMP index rose by 1.3% while Hang Seng was down by -0.7%.