Tadawul Review: 

Tadawul All Share Index (TASI) advanced slightly on ‎Thursday's session by +6 points, closing at 11,598 levels. TASI ‎opened the session positively by 4 points, then dropped to its ‎intraday low by -38 points in the first trading hour. However, ‎TASI fluctuated for rest of the session and managed to pare ‎its losses. In general, 14 out of 20 sectors closed in the green ‎zone, while 134 of 223 stocks rose and 70 fell. Food and ‎beverages (+2.0%), Insurance (+1.3%), and Health care ‎equipment and services (+0.9%) sectors contributed the most ‎to the index's (+15 points) rise. Stockwise, Almarai (+2.4%), ‎Tawuniya (+6.2%), and Alinma Bank (+1.3%) were the major ‎contributors. The trading activity witnessed a decline in ‎volume and value of -4% and -23%, respectively, to reach 282 ‎shares and SAR6.6bn in value traded.‎

 

 

 

Market Wrap International:

The global equity markets closed the tumultuous week on a ‎muted note despite the latest job payroll data in the U.S ‎working to calm the investors’ nerves spooked by a blow-out ‎job report released a day before. All in all, market’s view on ‎the likelihood of further increase in interest rate remained ‎dividend and the same was reflected in the volatility on the ‎yields in the bond markets and direction of key equity gauges. ‎Investors were also closely tracking the updates from a two-‎day visit of the U.S finance secretary to China. The S&P 500 ‎and Nasdaq Composite 100 Index added to weekly losses on ‎Friday and were down by 0.1% and 0.3% at session close. The ‎growth and tech names, the key drivers of recent rally, were ‎the major drags for the indices.‎

In Europe, the investors’ sentiment remained fragile with ‎economic data pointing to weak growth backdrop for the ‎major economies of the region at a time when the inflationary ‎pressure remained elevated. The Stoxx Europe 600 Index ‎failed to capitalize on a positive start and pared intraday gain ‎of 0.1% to close with minor change of +0.1%. Chemical and ‎minor were the major gainers for the region.‎

 

In Asia, the key indices digested the economic data released in ‎the U.S a day before and were down in the range of 0.3%-‎‎1.2%. The investors have taken a cautious view ahead of the ‎important economic data on inflation in the U.S. The increase ‎in the yields on the U.S bonds is broadly seen as negative for ‎major currencies of the region. ‎