Reports

2023-11-22

Daily Market Monitor 22-11-2023

Tadawul Review:

Tadawul All Share Index (TASI) rose slightly on Tuesday’s ‎session, up by +10 points to close at the 11,129 levels. TASI ‎opened the session unchanged and continued to be volatile ‎during the session until the end. Overall, 11 out of 20 sectors ‎closed in the green zone, while 85 shares rose and 121 fell. ‎Banks (+0.5%), Food and Beverages (+1.8%), and Utilities ‎‎(+0.3%) sectors contributed the most to the index's rise. ‎Stockwise, Al Rajhi Bank (+0.7%), Riyad Bank (+1.6%), and ‎Almarai (+2.4%) were the major contributors. The trading ‎activity witnessed a decline in volume and value of -3% and -‎‎23%, respectively, to reach 266 shares and SAR5.5bn in value ‎traded.‎

 

 

 

Market Wrap International:

In the U.S., stocks fell on Tuesday’s session with the prevailing ‎belief persists that the U.S. Federal Reserve has likely done its ‎interest rate hikes. The S&P 500 closed down by -0.2%, seven ‎of the eleven listed sectors fell, and the Nasdaq Composite ‎edged down by -0.6%, while the oil futures fell as investors ‎maintained vigilance ahead of the OPEC+ meeting, where ‎they may discuss the possibility of deepening supply cuts due ‎to the slowdown in global growth.‎

In Europe, The Stoxx Europe 600 declined of -0.1% due to ‎lower oil prices put pressure on energy stocks. Similarly, the ‎FTSE-100 index also saw a decline of -0.2% as the borrowing ‎situation in Britain has created an opportunity for potential ‎tax cuts before an important budget update scheduled for this ‎week. ‎

In Asia, the chinese indices fell (Shanghai Composite: -0.01%, ‎Hang Seng: -0.2%) following the initiation of drafting a list ‎comprising 50 real estate companies aiming to provide various ‎forms of financing to support the property in Beijing, despite ‎the Japanese shares reached a 30-year high the stocks ‎dropped by (Topix: -0.2%, Nikkei 225: -0.1%), with rising in ‎Yen and a slip in the dollar as traders eyed interest rate ‎tweaks.‎

 

 

Daily Market Monitor 22-11-2023