Tadawul Review:

Tadawul All-Share Index (TASI) underwent yet another ‎volatile session but managed to pared most of intraday losses ‎to close with minor losses of 27 points (-0.2%) on Thursday’s ‎session to settle at 10,939 levels. The index opened below its ‎previous day's close and continued its downward trajectory in ‎the first hour of the session to reach its intraday low of -166 ‎points, amid the decline in Brent oil prices. The index ‎retested its support just below 11k mark and recovered 139 ‎points before close. In general, 15 sectors out of 20 closed in ‎the red zone, while 46 shares rose and 154 fell. Materials (-‎‎0.6%), Energy (-0.6%), and Real Estate (-1.2%) sectors were ‎the major drags on the index and contributed a total of -18 ‎points. Stocks-wise, Aramco (-0.6%), Alinma Bank (-2.5%), ‎and Sulaiman Al Habib (-4.7%) pulled the index down the ‎most. The trading activity witnessed a remarkable ‎improvement in volume and value by 79% and 89%, ‎respectively, to reach 144mn shares and SAR6.2bn. The index ‎is likely to continue wobbling around 11K mark in near-term.‎

 

 

Market Wrap International:

The global equity indices broadly moved sideways on Friday ‎post a Thanksgiving holiday on Friday. The investors kept an ‎eye on updates on COVID-19 in China, the upcoming Black ‎Friday sales and the progress on discussion among EU ‎members on introduction of a price cap on Russian crude oil ‎exports. The treasury yields ticked down on Friday in a ‎shortened trading session while the dollar index remained ‎largely stable. Commodity prices closed lower amid soft ‎demand outlook. In the U.S, the benchmark S&P 500 was ‎broadly unchanged (-0.03%) while Nasdaq Composite Index ‎recorded modest losses of 0.5%. In a shortened trading session, ‎there were not many economic and market updates. Four out ‎of eleven industrial sectors on the S & P 500 closed lower led ‎by media services.‎

In Europe, the Stoxx Euro 600 Index declined by 0.‎‏03‏‎% with ‎energy stocks in the lead while real estate and retail being the ‎major drags. Major country-level indices in the region too ‎recorded gains on Friday.‎

In Asia, investors remained cautious amid fresh concerns on ‎COVID-19 in China. The major indices in the region (TOPIC, ‎KOSPI, TAIEX, SENSEX, Shanghai Composite, barring Hang ‎Seng (-0.5%) closed with little change. Volumes in major ‎markets were thin given lack of interest post-Thanksgiving ‎holiday. ‎