Tadawul Review:

Tadawul All-Share Index (TASI) closed higher for the fourth ‎consecutive session, rising +30 points (+0.3%) to close at ‎‎10,796 levels, which is the highest closing level since the ‎beginning of the year. TASI began the trading session with a ‎slight increase of +2 points, and the trading session fluctuated ‎throughout the day as it was in the range of 47 points. ‎Despite the fluctuations, TASI remained in green at session ‎close. In general, 11 sectors out of 20 closed in the green ‎zone, while 112 stocks rose and 90 fell. Banks (+0.3%), ‎Materials (+0.4%), and Energy (+0.6%) sectors contributed ‎the most to the index's rise of +25 points. Stock-wise, Al ‎Rajhi Bank (+0.8%), Aramco (+0.6%), and SABIC (+0.8%) ‎contributed most to the rise of the index. The trading volume ‎activity declined by 10% DoD to reach 115mn shares, while ‎the trading value increased by 4% DoD to reach SAR3.6bn. ‎The index is likely to continue its piecemeal recovery in near-‎term.‎

 

 

 

Market Wrap International:

The global equity markets were more cautious on Tuesday ‎amid mixed delivery on Dec-end earnings. Important economic ‎data is due later this week which has also pushed investors to ‎adopt a more cautious stance. In the U.S, the treasury yields ‎were broadly stable while the US Dollar index edged down. ‎The benchmark S&P 500 and Nasdaq Composite indices ‎nominally dropped by ‎‏0.1‏‎% and ‎‏0.3‏‎% amid intraday fluctuation ‎around the previous close. 5 out of 11 sectors in the S&P 500 ‎Index closed in red.‎

In Europe, the Stoxx Europe 600 Index snapped its two-day ‎rally and dropped by 0.‎‏2‏‎% at session end.  A key indicator of ‎private sector business activity surprisingly returned to growth ‎as per flash estimates for Jan-23. The PMI reading came in at ‎‎50.2 ahead of the consensus estimate of 49.8. A strong ‎economic data added to risk of sustained rate hike by the ‎regional central bank.‎

 

In Asia, markets in China and many other countries were ‎closed for trading due to the New Year holidays. Equity indices ‎in Japan and India continued the surge and were up ‎‏1.5‏‎% and ‎‏0.1‏‎% at session end. Semiconductor and power utility names in ‎Japan were in focus. ‎