2023-10-25
Daily Market Monitor 25-10-2023
Tadawul Review:
Tadawul All Share Index (TASI) rose on Tuesday, ending a 4-day loss, up by 87 points (+0.8) to close at 10,380 levels. The TASI started the session positively, gaining 7 points, but started declined and reached its lowest point of the day, down by 31 points in the middle of the session. However, the index staged a recovery and concluded the session. Overall, 12 out of 20 sectors closed in the green zone, while 86 shares rose and 129 fell. Banks (+2.8%), Telecom (+0.9%), and Food and beverages (+1.1%) sectors contributed the most to the index's rise. Stockwise, Al Rajhi Bank (+2.2%), Saudi National Bank (+3.2%), and Alinma Bank (+4.4%) were the major contributors. The trading activity witnessed a decline in volume and value of -8% and -4%, respectively, to reach 195mn shares and SAR4.6bn in value traded.
in the U.S stocks rebounded after a five-day decline as the decrease in Treasury yields renewed investors' interest in equities. This positive sentiment comes just before the tech big earnings reports scheduled for later on Tuesday. The S&P 500 edged up by +0.7%, with ten of eleven listed sectors rising, and the Nasdaq Composite rose by +0.9%. The yields on 2–10-year were by -1.9–+0.7 bps.
In Europe, The Stoxx Europe 600 was higher by +0.4%. In the UK, the FTSE-100 index closed up by +0.2%, with the UK's unemployment rate held steady at 4.2% under a new calculation that adjusted for declining household survey responses. The country-level indices closed within a range of +0.5% to +0.6%.
In Asia, the stocks recovered from initial losses as a decline in Treasury yields and onshore Chinese equities eked out gains (Shanghai Composite: +0.8%, Hang Seng: -1.1%). The benchmarks in Japan showed a positive performance (Topix: +0.4%, Nikkei 225: +0.2%), while KOSPI and TWSE were up by 1.1% and 0.4%, respectively.
Daily Market Monitor 25-10-2023
Download Arabic file
