Tadawul All Share Index (TASI) rose on Sunday, gaining 28 points (+0.3%) to close at 11,217. The index opened 100 points above its previous close, then gradually declined before rebounding by mid-session and stabilizing for the rest of the session. In general, 13 out of 21 sectors closed in the green zone, and 159 shares rose while 100 fell. Banks (+0.3%), Materials (+0.6%), and Real Estate (+1.4%) sectors contributed the most to the index rise. Stockwise, Saudi National Bank (+1.2%), Al Rajhi Bank (+0.5%), and Maaden (+1.5%) were the major contributors. The trading activity witnessed a decrease in volume and value of -37% and -45%, respectively, to reach 150mn shares and SAR3.0bn in value traded.
Market Wrap International:
U.S. equities ended higher at the last close, with major markets stabilizing after recent volatility as investors rotated into cyclical, industrial, and select technology shares, supported by improved risk sentiment and a pause in selling pressure tied to valuation concerns. European equities ended slightly firmer, broadly following Wall Street’s tone, with support from financials and defensives, while gains remained contained amid cautious positioning and limited regional catalysts. Asian markets ended mixed to lower, with weakness across China, Hong Kong, and South Korea outweighing strength in Japan, as regional sentiment was weighed by persistent concerns around global growth momentum and selective pressure on technology and export-oriented shares.