Reports

2023-07-04

Daily Market Monitor 4-07-2023

Tadawul Review: 

Tadawul All Share Index (TASI) rose on Monday’s session for ‎the second day by 51 points (0.4%) to close at 11,545 levels. ‎TASI opened the session positively, by 14 points, before ‎declining in the first trading hour. However, the index ‎rebounded after that and began to rise again during the ‎session to close at its intraday high. In general, 13 out of 20 ‎sectors closed in the green zone, while 109 stocks rose and ‎‎104 fell. Banks (+0.4%), Insurance (+3.7%), and Food and ‎beverages (+2.0%) sectors contributed the most to the ‎index's +34 point rise. Stockwise, Almarai (+3.5%), Saudi ‎Fransi (+2.8%), and Aramco (+0.3%) were the major ‎contributors. The trading activity witnessed an increase in ‎volume and value of 46% and 56%, respectively, to reach 266 ‎shares and SAR7.1bn in value traded.‎

 

 

Market Wrap International:

The global equity markets, barring Asian benchmarks, were ‎relatively calm on Monday as investors await important ‎economic data points later this week. In the U.S, the trading ‎was also affected by the upcoming national holiday on 4th July. ‎The equity benchmarks in the U.S moved in a narrow range ‎and managed to close with minor gains of 0.1% and 0.2%. The ‎investors are digesting the latest comments from the Fed ‎officials and economic data released last week.‎

In Europe, the Stoxx Europe 600 index was quite muted and ‎close with minor loss of 0.2%. The country level indices also ‎moved muted, down 0.1-0.4%. The investors have largely ‎sidestepped concerns associated with the latest flare-up of ‎violent protest in France. Meanwhile, concerns on deeper ‎slowdown in economic activity in Germany remained.‎

In Asia, markets started the week on a strong positive note ‎and were up 0.8-2.1%. Positive economic data in Japan, tech ‎names in China and the impact of strong positive inflation ‎data in U.S markets released after the market close on Friday ‎were the key drivers. In Japan, Manufacturer Sentiment rose ‎for the first time since 2021 as per central bank survey.‎

 

Daily Market Monitor 4-07-2023