Saudi Arabia's Tadawul All Share Index (TASI) closed Q2 2022 in the red, shedding 12%, or 1,567 points, to 11,523 points.
The Saudi benchmark recorded the biggest quarterly loss since the first quarter of 2020, when it plunged 22.5% battered by the COVID-19 pandemic.
TASI’s losses coincided with a decline in global markets amid inflation risks and tightened monetary policy.
By the end of H1 2022, TASI cut its gains to 2.1%, or 241 points, after jumping 16%, or 1,808 points in the first quarter of the year.
Key highlights in Q2 2022:
The Saudi Central Bank (SAMA) decided to raise its reverse repo rate from 75 basis points (bps) to 175 bps. It also hiked the repo rate to 225 basis points (bps) from 125 bps. The hike was implemented in two times following the Federal Reserve decision.
OPEC+ decided to boost its oil production by 648,000 barrels per day in July and August.
The Saudi Exchange (Tadawul) announced that it will launch single stock futures (SSFs) contracts on July 4, which will be cleared by the Securities Clearing Center Co. (Muqassa).
The shares of National Petrochemical Co. (Petrochem) were delisted after the company’s merger with Saudi Industrial Investment Group (SIIG). Wafa Insurance stock was also delisted, as the company started liquidation procedures.
Saudi Arabia announced Q1 2022 budget with SAR 278 billion revenue and SAR 220.47 billion in expenditure, with a surplus of SAR 57.5 billion.
The Kingdom’s GDP grew by 9.6% in Q1 2022, the highest growth since 2011.
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TASI Quarterly Performance since 2010 |
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Period |
Open (points) |
Close (points) |
Change |
|
2010 |
|||
|
Q1 2010 |
6122 |
6801 |
+ 11.1 % |
|
Q2 2010 |
6801 |
6094 |
(10.4 %) |
|
Q3 2010 |
6094 |
6392 |
+ 4.9 % |
|
Q4 2010 |
6392 |
6621 |
+ 3.6 % |
|
2011 |
|||
|
Q1 2011 |
6621 |
6563 |
(0.9 %) |
|
Q2 2011 |
6563 |
6576 |
+ 0.2 % |
|
Q3 2011 |
6576 |
6112 |
(7.1 %) |
|
Q4 2011 |
6112 |
6418 |
+ 5.0 % |
|
2012 |
|||
|
Q1 2012 |
6418 |
7835 |
+22.1% |
|
Q2 2012 |
7835 |
6710 |
(14.4%) |
|
Q3 2012 |
6710 |
6840 |
+1.9% |
|
Q4 2012 |
6840 |
6801 |
(0.6%) |
|
2013 |
|||
|
Q1 2013 |
6801 |
7126 |
+4.8% |
|
Q2 2013 |
7126 |
7497 |
+5.2% |
|
Q3 2013 |
7497 |
7965 |
+6.2% |
|
Q4 2013 |
7965 |
8536 |
+7.2% |
|
2014 |
|||
|
Q1 2014 |
8536 |
9474 |
+11% |
|
Q2 2014 |
9474 |
9513 |
+0.4% |
|
Q3 2014 |
9513 |
10855 |
+14.1% |
|
Q4 2014 |
10855 |
8333 |
(23.2%) |
|
2015 |
|||
|
Q1 2015 |
8333 |
8779 |
+5.3% |
|
Q2 2015 |
8779 |
9087 |
+3.5% |
|
Q3 2015 |
9087 |
7404 |
(18.5%) |
|
Q4 2015 |
7404 |
6912 |
(6.7%) |
|
2016 |
|||
|
Q1 2016 |
6912 |
6223 |
(10.0%) |
|
Q2 2016 |
6223 |
6500 |
+4.4% |
|
Q3 2016 |
6500 |
5623 |
(13.5%) |
|
Q4 2016 |
5623 |
7210 |
+28.2% |
|
2017 |
|||
|
Q1 2017 |
7210 |
7002 |
(2.9%) |
|
Q2 2017 |
7002 |
7426 |
+6.1% |
|
Q3 2017 |
7426 |
7283 |
(1.9%) |
|
Q4 2017 |
7283 |
7226 |
(0.8%) |
|
2018 |
|||
|
Q1 2018 |
7226 |
7871 |
+8.9% |
|
Q2 2018 |
7871 |
8314 |
+5.6% |
|
Q3 2018 |
8314 |
8000 |
(3.8%) |
|
Q4 2018 |
8000 |
7827 |
(2.2%) |
|
2019 |
|||
|
Q1 2019 |
7827 |
8819 |
+12.7% |
|
Q2 2019 |
8819 |
8822 |
+0.03% |
|
Q3 2019 |
8822 |
8092 |
(8.3%) |
|
Q4 2019 |
8092 |
8389 |
+3.7% |
|
2020 |
|||
|
Q1 2020 |
8389 |
6505 |
(22.5%) |
|
Q2 2020 |
6505 |
7224 |
+11% |
|
Q3 2020 |
7224 |
8299 |
+14.9% |
|
Q4 2020 |
8299 |
8690 |
+4.7% |
|
2021 |
|||
|
Q1 2021 |
8690 |
9908 |
+14% |
|
Q2 2021 |
9908 |
10984 |
+10.9% |
|
Q3 2021 |
10984 |
11496 |
+4.7% |
|
Q4 2021 |
11496 |
11282 |
(1.9%) |
|
2022 |
|||
|
Q1 2022 |
11282 |
13090 |
+16% |
|
Q2 2022 |
13090 |
11523 |
(12.0%) |
The Saudi benchmark reported strong performance during H1 2022. It demonstrated positive performance in four months, with the biggest rise in January at 8.8%. It dropped in May and June by 5.9% and 10.8%, respectively.
On sector level, a total of 14 market sectors ended H1 2022 slightly lower, led by pharmaceuticals with a fall of 34%. It was followed by consumer durables and apparel (31%), capital goods (21%) and materials (6%).
On the other hand, seven sectors reported positive performance, topped by utilities with a 20% rise. Energy came in the second place with 18%, followed by banks (5%).
TASI ended on a positive note in 73 out of 124 trading sessions during the first half of 2022. It posted the biggest rally of 314 points, or 2.4% on May 15.
On the other hand, it closed in the red in 52 sessions, with the biggest loss of 544 points, or 4.1% recorded on May 12.
The Saudi gauge's traded value dropped 23% to SAR 1.037 trillion in H1 2022, from SAR 1.339 trillion in the year-earlier period.
The number of executed transactions decreased 10% to 46.97 million in the six-month period.
For stock performance, 144 stocks headed south in H1 2022, while 45 headed north compared to their closing prices at the end of 2021.
ACWA Power was the top gainer, surging 78%. Saudi Tadawul Group came second rising 50%, followed by Dallah Healthcare (48%).
Meanwhile, Arab Sea was the biggest loser, slumping 67%. It was followed by Sadr (60%), Etihad Atheeb (44%) and Shaker (41%).
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