Tadawul trading screen
Saudi Arabia's Tadawul All Share Index (TASI) rose 5.5%, or 578 points (pts), to 11,056 pts at the end of the first nine months of 2023, compared to 10,478 pts at the end of 2022.
The benchmark index gained 3.5%, or 403 pts, in Q3 2023, amid uncertainty in global markets.
Meanwhile, it added 1.1%, or 112 pts, in Q1 2023, and continued its rise by 8.2%, or 869 pts in Q2.
Major Events in Q3
The Federal Reserve kept interest rates at July levels, in the range of 5.25% and 5.50%.
Oil prices rose remarkably, with Brent crude exceeding $96 a barrel, an increase of nearly 30% compared to the end of the second quarter.
The Kingdom decided to extend its voluntary oil reduction of 500,000 barrels per day until the end of December 2024, in coordination with some OPEC+members.
The Ministry of Finance announced Q2 2023 budget, with SAR 314.82 billion revenues and SAR 320.09 expenditures, which means a deficit of around SAR 5.27 billion.
|
TASI Quarterly Performance since 2010 |
|||
|
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 |
+11.0% |
|
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 |
+11.0% |
|
Q3 2020 |
7224 |
8299 |
+14.9% |
|
Q4 2020 |
8299 |
8690 |
+4.7% |
|
2021 |
|||
|
Q1 2021 |
8690 |
9908 |
+14.0% |
|
Q2 2021 |
9908 |
10984 |
+10.9% |
|
Q3 2021 |
10984 |
11496 |
+4.7% |
|
Q4 2021 |
11496 |
11282 |
(1.9%) |
|
2022 |
|||
|
Q1 2022 |
11282 |
13090 |
+16.0% |
|
Q2 2022 |
13090 |
11523 |
(12.0%) |
|
Q3 2022 |
11523 |
11405 |
(1.0%) |
|
Q4 2022 |
11405 |
10478 |
(8.1%) |
|
2023 |
|||
|
Q1 2023 |
10478 |
10590 |
+1.1% |
|
Q2 2023 |
10590 |
11459 |
+8.2% |
|
Q3 2023 |
11459 |
11056 |
(3.5%) |
|
Q4 2023 |
10478 |
10590 |
+1.1% |
The index monthly performance
TASI reported highs in five months, led by April (718 pts or 7%) and March (5%).
However, the benchmark posted declines in four months, led by February (6%, or 690 pts), September (4%) and May (3%).
|
TASI Monthly Performance in 9M 2023 |
|||
|
Month |
Closing (points) |
Change (points) |
Change (%) |
|
January |
10793 |
+315 |
+3% |
|
February |
10103 |
(690) |
(6%) |
|
March |
10590 |
+487 |
+5% |
|
April |
11308 |
+718 |
+7% |
|
May |
11014 |
(294) |
(3%) |
|
June |
11459 |
+445 |
+4% |
|
July |
11692 |
+233 |
+2% |
|
August |
11491 |
(201) |
(2%) |
|
September |
11056 |
(435) |
(4%) |
In terms of sectors, they reported positive performance during the first nine months of 2023, except for materials, banks, and REITs that fell 1%, 10%, and 12%, respectively.
Pharmaceuticals led the declining sectors, losing 34%. It was followed by consumer durables and apparel (27%) and materials (8%).
Conversely, software & services topped gainers, soaring 81%, followed by pharma, biotech & life science (62%), and insurance (54%).
|
Sector Performance in 9M 2023 |
||||
|
Sector |
2022 |
9M 2023 |
Change (points) |
Change (%) |
|
Energy |
5427 |
6566 |
+1139 |
+21% |
|
Materials |
6290 |
6215 |
(75) |
(1%) |
|
Capital Goods |
5226 |
7547 |
+2321 |
+44% |
|
Commercial & Professional Services |
3436 |
4682 |
+1246 |
+36% |
|
Transportation |
4541 |
5550 |
+1009 |
+22% |
|
Consumer Durables & Apparel |
4225 |
4976 |
+751 |
+18% |
|
Consumer Services |
3690 |
4942 |
+1252 |
+34% |
|
Media & Entertainment |
21496 |
22884 |
+1388 |
+6% |
|
Retailing |
7174 |
7789 |
+615 |
+9% |
|
Food & Staples Retailing |
8541 |
9708 |
+1167 |
+14% |
|
Food & Beverages |
4640 |
5820 |
+1180 |
+25% |
|
Healthcare Equipment & Services |
9110 |
10267 |
+1157 |
+13% |
|
Pharma, Biotech & Life Science |
2873 |
4657 |
+1784 |
+62% |
|
Banks |
11542 |
10373 |
(1169) |
(10%) |
|
Diversified Financials |
6361 |
6821 |
+460 |
+7% |
|
Insurance |
5317 |
8194 |
+2877 |
+54% |
|
Software & Services |
35888 |
64885 |
+28997 |
+81% |
|
Telecommunication Services |
6389 |
7117 |
+728 |
+11% |
|
Utilities |
7174 |
8168 |
+994 |
+14% |
|
REITs |
3975 |
3495 |
(480%) |
(12%) |
|
Real Estate Management & Development |
2500 |
3111 |
+611 |
+24% |
|
TASI |
10478 |
11056 |
+578 |
+6% |
TASI ended on a positive note in 90 out of 183 trading sessions during the first nine months of 2023. It posted the biggest rally of 207 points, or 1.9% on March 19.
On the other hand, it closed in the red in 91 sessions, with the biggest loss of 159 points, or 1.6% recorded on March 15.
The Saudi gauge's traded value dropped 30% to SAR 974.2 billion in the first nine months of 2023, from SAR 1.400 trillion in the year-earlier period.
The number of executed transactions decreased 1% to 67.5 million in the nine-month period.
For stock performance, 148 stocks headed north in the nine-month period, while 52 headed south compared to their closing prices last year.
Atheeb Telecom was the top gainer, surging 173%. It was followed by Elm with 135%, then Salama and Nadec (133% each)
Meanwhile, Development Works Food was the biggest loser, slumping 31%. It was followed by Tanmiah Food (29%).
|
Top Performers in 9M 2023* |
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|
Company |
2022 (SAR) |
9M 2023 (SAR) |
Variation (%) |
|
Etihad Atheeb |
46.95 |
128.00 |
+173% |
|
Elm |
332.00 |
780.00 |
+135% |
|
Salama |
12.96 |
30.15 |
+133% |
|
NADEC |
20.42 |
47.50 |
+133% |
|
Arabian Pipes |
40.00 |
87.60 |
+119% |
|
Electrical Industries |
18.80 |
41.00 |
+118% |
|
Saudi German Hospital |
25.45 |
55.10 |
+117% |
|
SASCO |
32.50 |
65.00 |
+100% |
|
Saudi Steel Pipe |
17.90 |
35.25 |
+97% |
|
Al Arabia |
107.00 |
206.80 |
+93% |
|
Malath Insurance |
11.04 |
21.08 |
+91% |
|
Riyadh Cables |
36.25 |
68.90 |
+90% |
|
Aldrees |
74.40 |
140.40 |
+89% |
|
Tawuniya |
67.08 |
126.00 |
+88% |
|
MESC |
9.90 |
18.10 |
+83% |
|
East Pipes |
37.30 |
65.50 |
+76% |
|
Saudi Chemical |
2.65 |
4.58 |
+73% |
|
Astra |
51.70 |
88.00 |
+70% |
|
Al Sagr |
14.04 |
23.82 |
+70% |
|
Al Rajhi Takaful |
89.50 |
151.80 |
+70% |
|
Top Loss Makers in 9M 2023* |
|||
|
Company |
2022 (SAR) |
9M 2023 (SAR) |
Change (%) |
|
Development Works Food |
153.80 |
106.20 |
(31%) |
|
Tanmiah Food |
131.20 |
93.60 |
(29%) |
|
ANB |
32.05 |
24.00 |
(25%) |
|
Saudi Electricity |
23.10 |
19.06 |
(17%) |
|
Nahdi |
167.20 |
144.20 |
(14%) |
|
Southern Cement |
51.00 |
44.10 |
(14%) |
|
Takween |
18.40 |
15.92 |
(13%) |
|
SNB |
37.69 |
32.80 |
(13%) |
|
Riyad Bank |
31.80 |
27.75 |
( 13%) |
|
Bank AlJazira |
19.08 |
16.80 |
(12%) |
|
SAB |
38.95 |
34.50 |
(11%) |
|
Nayifat Finance |
15.82 |
14.08 |
(11%) |
|
SHL |
20.48 |
18.28 |
(11%) |
|
Alamar |
138.80 |
124.20 |
(11%) |
|
Chemanol |
25.30 |
22.70 |
(10%) |
|
Saudi Fransi |
40.60 |
36.50 |
(10%) |
|
Retal |
9.89 |
8.92 |
(10%) |
|
Al Rajhi Bank |
75.20 |
67.90 |
(10%) |
|
SRMG |
182.00 |
164.40 |
(10%) |
|
Alsaif Gallery |
9.05 |
8.22 |
(9%) |
*Taking into account stock price changes due to capital amendments.
|
Performance of Market Heavyweights in 9M 2023 |
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|
Company |
2022 (SAR) |
9M 2023 (SAR) |
Change (%) |
|
Saudi Aramco |
29.18 |
35.00 |
+20% |
|
Al Rajhi Bank |
75.20 |
67.90 |
(10%) |
|
SNB |
37.69 |
32.80 |
(13%) |
|
SABIC |
89.40 |
82.50 |
(8%) |
|
stc |
36.60 |
37.60 |
+3% |
|
Riyad Bank |
31.80 |
27.75 |
(13%) |
|
Alinma Bank |
32.55 |
33.40 |
+3% |
|
ACWA Power |
152.00 |
195.60 |
+29% |
|
SAB |
38.95 |
34.50 |
(11%) |
|
Banque Saudi Fransi |
40.60 |
36.50 |
(10%) |
|
Maaden |
43.15 |
40.35 |
(6%) |
|
Almarai |
53.50 |
63.60 |
+19% |
|
Bank Albilad |
44.45 |
42.30 |
(5%) |
|
Etihad Etisalat |
34.75 |
44.55 |
+28% |
|
SABIC Agri-Nutrients |
146.20 |
133.00 |
(9%) |
|
Jabal Omar |
16.52 |
23.46 |
+42% |
|
Sipchem |
33.95 |
37.80 |
+11% |
|
Saudi Electricity |
23.10 |
19.06 |
(17%) |
|
ANB |
32.05 |
24.00 |
(25%) |
|
Sulaiman Al Habib |
220.60 |
235.60 |
+7% |
*Taking into account stocks price changes due to capital amendments.
|
Performance of Companies Listed in 9M 2023 |
||||
|
Company |
Listing price (SAR) |
Possible Trading Price (SAR)* |
9M 2023 (SAR) |
Change** |
|
Jamjoom Pharma |
60.00 |
72.00 |
115.80 |
+61% |
|
Al Mawarid |
64.00 |
76.80 |
121.80 |
+59% |
|
Lumi |
66.00 |
79.20 |
88.20 |
+11% |
|
First Mill |
60.00 |
72.00 |
72.90 |
+1% |
|
MRNA |
14.60 |
16.06 |
12.24 |
(24%) |
**Change compared to possible trading price
Performance of REITs:
Thirteen real estate investment trusts (REITs) headed south in the nine-month period, dragged by Musharaka REIT with a slump of 33%. SEDCO Capital REIT followed, losing 23%.
Five REITs went up, topped by Al Maather REIT with a gain of 7%. Jadwa REIT Al Haramain took the second place, rising 6%.
|
Performance of REITs in 9M 2023 |
|||
|
REIT |
2022 (SAR) |
9M 2023 (SAR) |
Change |
|
Musharaka REIT |
8.85 |
5.95 |
(% 33) |
|
SEDCO Capital REIT |
10.32 |
7.90 |
(% 23) |
|
Mulkia REIT |
7.75 |
6.14 |
(% 21) |
|
Derayah REIT |
10.12 |
8.04 |
(21%) |
|
AlAhli REIT 1 |
10.10 |
8.15 |
(19%) |
|
Al Rajhi REIT |
9.79 |
8.04 |
(18%) |
|
Riyad REIT |
9.88 |
8.45 |
(14%) |
|
SICO Saudi REIT |
5.59 |
4.80 |
(14%) |
|
Alkhabeer REIT |
7.60 |
6.55 |
(14%) |
|
Taleem REIT |
11.80 |
10.76 |
(9%) |
|
Alinma Retail REIT |
4.90 |
4.72 |
(4%) |
|
Jadwa REIT Saudi |
12.90 |
12.50 |
(3%) |
|
Alinma Hospitality REIT |
*9.59 |
8.91 |
(3%) |
|
Bonyan REIT |
9.16 |
9.23 |
+1% |
|
MEFIC REIT |
4.77 |
4.84 |
+1% |
|
AlJazira REIT |
17.84 |
18.82 |
+5% |
|
Jadwa REIT Al Haramain |
6.86 |
7.24 |
+6% |
|
Al Maather REIT |
8.36 |
8.98 |
+7% |
Closed-ended investment traded funds (CEF)
|
CEF Performance in 9M 2023 |
|||
|
Fund |
2022 (SAR) |
9M 2023 (SAR) |
Change |
|
Alkhabeer Growth and Income |
5.69 |
8.65 |
+52% |
|
Alkahbeer Diversified Income |
5.95 |
6.97 |
+17% |
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