Al Rajhi, Aljazira maintain lead among Saudi brokerages in May

Al Rajhi Capital, the investment arm of Al Rajhi Bank, has been ranked the leading brokerage firm by market share in Saudi Arabia in May, keeping its place the sixth straight month, market data compiled by Argaam showed.

Al Rajhi brokered up to 18.8 percent, or SAR 24.3 billion, of the total equity transactions on the Saudi Stock Exchange (Tadawul). 

Aljazira Capital moved up one notch to the second position, executing 16.9 percent, or SAR 21.8 billion, of the total trading activity during the same month.

NCB Capital retreated to the third rank, executing around SAR 13.3 billion of the total trading activity during May.

The combined trading value of Saudi brokerage firms stood at SAR 129.3 billion in May 2017, marking a month-on-month drop of SAR 1.3 billion.

In the Nomu parallel market, Aljazira Capital was the leading brokerage firm by market share last month, followed by Al Rajhi Capital.

Aljazira Capital brokered up to 19.5 percent, or SAR 27.3 million, of total equity transactions on Nomu. 

Meanwhile, Falcom Financial Services was the leading firm in terms of exchange-traded funds (ETFs) in April, executing 99.8 percent (SAR 224 million) of total trading activity during the month.