Tadawul Review:

Tadawul All-Share Index (TASI) closed Tuesday's session ‎down for the second day in a row, declining by -56 points (-‎‎0.5%) to settle at 10,849 levels. TASI had opened the session ‎negatively, down 10 points from the previous close, and ‎continued its decline until it reached its intraday low during ‎the end of the regular trading hours, down 89 points. ‎However, TASI was able to reduce some of its losses in the ‎closing auction to add 33 points. In general, 12 out of 20 ‎sectors closed in the red zone, while 137 stocks fell and 71 ‎rose. Bank (-1.0%), Materials (-0.8%), and Energy (-0.5%) ‎sectors contributed the most to the index's fall of -55 points. ‎Stock-wise, AlRajhi Bank (-1.2%), Aramco (-0.5%), and SABIC ‎‎(-1.5%) contributed most to the fall of the index. The trading ‎activity witnessed a decline in volume and value by -19% and ‎‎-3%, respectively, to reach ‎‎168mn shares and SAR5.1bn. TASI ‎is likely to trade in a narrow range. Volumes are likely to ‎shrink in the next few sessions as extended holiday season ‎approaches. ‎

 

 

Market Wrap International:

The global equity indices moved higher on Tuesday as investors ‎brushed aside worries over Fed rate and increased geopolitical ‎tension. The upcoming result season has started to make its ‎impression. The treasury yields in the U.S edged higher. The S&P 500 ‎and Nasdaq Composite moved in a narrow range around previous ‎close and recorded small losses of -0.004% and -0.4% respectively. ‎Investors are focused on the upcoming CPI data (due on ‎Wednesday) for affirmation of the market's view of the rate hike ‎cycle entering its final phase.‎

In Europe, most indices resumed trading following the Easter ‎holiday. The Stoxx Europe 600 Index rose 0.6% driven by mining and ‎automobile names. Country level indices followed suit and were up ‎‎0.4-0.9%. CAC in France closed at the new all time high.  ‎

In Asia, the status-quo on policy rate in Korea, weak CPI in China ‎and Warren Buffet’s announcement to explore opportunities in ‎Japan’s financial sectors weighed on the investors’ sentiments. ‎KOSPI was a major outlier with a 1.4% jump followed by NIKKEI 225‎(+1%), TOPIX ‎‎(+0.8%) and HangSeng (+0.8%).‎‎