Tadawul Review:

Tadawul All-Share Index (TASI) closed higher for the third ‎consecutive session, rising +41 points (+0.4%) to close at ‎‎10,766 levels, which is the highest closing level since the ‎beginning of the year. TASI made a muted start on Monday ‎with a slight increase of +3 points. The index flipped flop ‎with gains and losses before making a definite direction and ‎saw gradual rise to end the session at its intraday high. In ‎general, 10 sectors out of 20 closed in the green zone, while ‎‎92 stocks rose and 110 fell. Banks (+0.5%), Energy (+1.6%), ‎and Telecom (+0.6%) sectors contributed the most to the ‎index's rise of +35 points. Stock-wise, Aramco (+1.7%), Al ‎Rajhi Bank (+1%), and Alinma Bank (+1.2%) contributed most ‎to the rise of the index. The trading activity witnessed an ‎increase in volume and value by 30% and 11%, respectively, ‎to reach 128mn shares and SAR3.4bn. The index is likely to ‎maintain its course amid range bound move and limited ‎intraday volatility. Strong oil prices and Dec-end earnings ‎season provide an encouraging support for the index to make ‎further recovery.

 

 

 

Market Wrap International:

The global equity markets edged higher on Monday amid ‎closure of most Asian markets for trading on Monday on ‎account of New Year Holidays. Commodity prices remained ‎higher on the prospects of strong demand outlook on re-‎opening of the Chinese economy. In the U.S, the benchmark ‎S&P 500 and Nasdaq Composite Indices managed to sustain ‎the rally into the second session and closed higher by 1.2% and ‎‎2%. The treasury yields in the U.S recovered to pre Dec-CPI ‎levels. Result season and corporate news flow have had a ‎limited impact on the overall index. 10 out of 11 listed ‎industrial sectors were positive on the S&P 500 Index.‎

In Europe, the benchmark Europe 600 Index closed with a ‎minor gain of 0.5% with investors focusing on the statement ‎from the ECB officials on the likely path of benchmark rate in ‎the region and Dec-end results. Country level indices too ‎moved in the same direction and were up 0.2% | 0.5%.‎

In Asia, barring Japan and India, all other major markets in the ‎region were closed for the day. In Japan, the benhmark TOPIX ‎and Nikkei 225 were up 1% and 1.3% (driven by tech names) ‎while in India, SENSEX jumped 0.5% (Dec-end results). ‎‎