Tadawul Review:

Tadawul All-Share Index (TASI) remained unchanged on ‎Monday as it added only two points to close at 10,728 levels. ‎TASI opened the session negatively and traded within a range ‎of 63 points as the session witnessed fluctuation in the ‎performance of the index. TASI reached its intraday low in ‎the first half of the trading hours, down by 45 points. ‎However, TASI recovered in the second half of the trading ‎hours to erase all its losses and reach its intraday high, up 18 ‎points, before cutting some of its profits at the end of ‎trading. In general, 10 out of 20 sectors closed in the green ‎zone, as 79 shares rose and 124 fell. Banks (+0.3%), Insurance ‎‎(+1.3%), and Food and Beverages (+0.6%) led the index gains, ‎while Materials (-0.3%), Energy (-0.3%), and Real Estate (-‎‎0.4%) were the major drags on the index. Among stocks, ‎SABIC (+1.4%), Riyad Bank (+1.8%), and Alinma Bank ‎‎(+1.5%) contributed most to the rise of the index. The ‎trading activity witnessed an increase in volume and value by ‎‎3% and 17%, respectively, to reach 146mn shares and ‎SAR4. 1bn.TASI is likely to remain range bound in the near-‎term ahead of the start of Dec-end result season. ‎

 

 

 

Market Wrap International:

The global equity indices moved in divergent directions on ‎Monday amid low volumes due to closure of the U.S markets. ‎In Europe, the benchmark Stoxx Europe 600 Index extended ‎its rally into the third straight session and rose ‎‏0.5‏‎% on ‎Monday. Inflation readings both in member countries and the ‎regional benchmark along with production data took center ‎stage. Real estate, health care and communication services ‎were the three major drivers. Major country level indices too ‎moved higher by 0.2-0.3%.‎

Indices in Asia, however, were mixed with China re-opening ‎and future Bank of Japan’s move being the major focus areas. ‎Main indices in mainland China jumped on Monday, with ‎Shanghai Composite (+1%) and CSI 300 (1.6%) leading the ‎way. With low valuation and under-ownership, equities in ‎China remain favorite among foreign investors. Indices in Japan ‎‎(TOPIX: -0.9%, Nikkei: -1.1%) were under pressure due to fears ‎of further tightening of monetary policy in the form of ‎widening of the trading band for 10-year government bonds by ‎the central bank. Indices in Korea and TAIEN edged higher ‎while SENSEX in India turned lower. ‎‎