Tadawul Review:

Tadawul All-Share Index (TASI) remained unchanged on ‎Monday, falling -6 points (-0.1%) to close at 10,229 levels. ‎TASI started the session at the same level as the previous ‎close, with a slight increase of 5 points. TASI fluctuated ‎between profits and losses in a very narrow range of 49points ‎during the session. Overall, 15 out of 20 sectors closed in the ‎red zone, while 49 stocks advanced and 149 fell. Utilities ‎‎(+0.6%), Food and Beverages (+0.3%), and Media (+0.7%) ‎sectors contributed to the stability of the index, while Real ‎Estate (-1.5%), Insurance (-1%), and Materials (-0.1%) were a ‎drag on the index. Among stocks, Maaden (-2.1%), Saudi ‎British Bank (-1.2%), and Dar Al Arkan (-4.6%) pulled the ‎index down the most. The trading volume activity increased ‎by 7% DoD to reach 86mn shares, while the trading value ‎declined by 2% DoD to reach SAR1.9bn. TASI is likely to show ‎more or less similar trading pattern of rangebound movement ‎in the next few sessions. Dec-end results are likely to gain ‎traction and can be a source of stock-specific excitement as ‎the year draws to a close.

 

 

 

Market Wrap International:

Cash equity markets in the U.S and Europe were closed for ‎trading on Monday. The futures on S&P 500 and Nasdaq ‎Composite made modest gains of 0.2-0.5% on Monday. Besides ‎economic data, the economic losses inflicted by the ongoing ‎blizzards in North America and the duration of the snowstorms ‎may have negative implications for the markets when trading ‎normalizes.‎

Asia witnessed normal trading in most major markets on ‎Monday though volumes remained low. Overall, indices ‎changed course on Monday with markets in Japan (Nikkei: ‎‎+0.7%), China (Shanghai Composite: +0.6%) and India ‎‎(SENSEX: +1.2%) recording gains while indices in Korea ‎‎(KOSPI: +0.1%) and Taiwan (+0.1%) were largely unchanged. ‎The updates on China reopening were largely positive with ‎the authorities announcing withdrawing conditions of ‎quarantine for inbound travelers effective 8th Jan. In another ‎update, the health authorities have predicted the COVID-19 ‎infections in the country are likely to peak by January based ‎on latest provincial data on new infection cases following ‎announcement of easing measures both in Nov and Dec.  ‎‎