Tadawul Review:

Tadawul All-Share Index (TASI) closed positively on Monday ‎for the second day in a row, rising +32 points (+0.3%) to close ‎at 10,578 levels. TASI index began the session positively, but ‎was pressured at the start of trading hours and recorded an ‎intraday low of -31 points in the first hours of trading. ‎However, TASI started building its positive momentum after ‎that and continued rising throughout the trading session, ‎reaching its intraday high at the end of the session and before ‎the closing auction, achieving +42 points. In the closing ‎auction, the index trimmed some of its profits, losing 10 ‎points. In general, 17 out of 20 sectors closed in the green ‎zone, while 176 shares rose and 36 fell. Materials (+0.7%), ‎Banks (+0.2%), and Real Estate (+1.9%) sectors contributed ‎the most to the index's rise of +23 points Stock-wise, Al Rajhi ‎Bank (+0.9%), Jabal Omar (+3.8%), and ACWA Power (+1%) ‎contributed most to the rise of the index. The trading activity ‎witnessed a remarkable improvement in volume and value by ‎‎94% and 64%, respectively, to reach 149mn shares and ‎SAR3.7bn. TASI is likely to sustain its recovery amid ‎rangebound activity. ‎‎

 

 

Market Wrap International:

The equity markets in the U.S, U.K, and most of Asian ‎countries (China, Hong Kong, Japan) were closed for trading ‎on account of New-Year holiday. Accordingly, updates on ‎economic data and other news flow was thin.‎

‎ In Europe, the Stoxx Euro 600 Index moved higher by 0.‎‏1‏‎% ‎amid half of the normal day’s volume. The fall in gas prices in ‎the region to pre-war levels remained major positive update. ‎Investors are also keeping a close eye on the rising COVID-19 ‎infection in China and the risk of new travel restrictions  on ‎passengers travelling from China. ‎

In Asia, KOSPI and SENSEX were the only two major markets ‎open for trading. KOSPI gave its intraday gains of 1% to close ‎with minor losses of 0.‎‏5‏‎% while SENSEX recorded a modest ‎gain of 0.‎‏5‏‎%. A private survey of major indices in China shows ‎economic activity in China has actually contracted in 4Q22 ‎due to COVID-19 related restrictions. Asian markets will likely ‎react to the finding once markets resume trading.‎