AI Summary
Tadawul trading screen
Saudi Arabia’s benchmark Tadawul All Share Index (TASI) crossed today, Aug. 3, the peak recorded in September 2014, reaching 11,209 points - the highest level since January 2008 (at the time of the global financial crisis).
The index witnessed a gradual rise since the beginning of 2021, as it added 2,500 points, or 28.7%, year-to-date.
Oil prices recently rallied to their highest levels in more than two years, crossing the $77/barrel mark.
Minister of Finance, Mohammed Al-Jadaan, recently said that the Kingdom has largely recovered from the COVID-19 pandemic, driven by the implemented reforms.
Fitch Ratings affirmed, in July, Saudi Arabia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at “A” and revised outlook to “Stable” from “Negative”. Similarly, Capital Economics expects Saudi Arabia’s economy to grow from 2.2% to 4.8% this year, and from 4.1% to 6.3% in 2022.
On Sept. 9, 2014, TASI rose to a high at 11,160 points. The rise was fueled by the news that the Saudi Cabinet approved opening the stock market for qualified foreign financial institutions.
The benchmark index was at the peak recorded in 2008, hitting 11,965 points. In the event of exceeding the mark, the index will record its highest level since 2006.
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Highest Levels of TASI |
||
|
Year |
Date |
Level (Points) |
|
2006 |
Feb. 25 |
20967 |
|
2006 |
April 5 |
17945 |
|
2006 |
July 3 |
13542 |
|
2008 |
Jan. 13 |
11965 |
|
2014 |
Sept. 9 |
11160 |
|
2021 |
Aug. 3 |
11209 |
A total of 30 companies have been listed during the period from September 2014 to date, mainly Saudi Aramco, Saudi National Bank, and 17 REIT funds and income funds.
Meanwhile, 96 out of 153 listed stocks at that time declined, excluding the companies that merged and were delisted.
By the close of trading today, Saudi Research and Media Group (SRMG) topped gainers, with a surge of 713%, followed by Bupa Arabia for Cooperative Insurance Co. and Mouwasat Medical Services Co. with a rise of more than 200% each.
Al Rajhi Bank rose by 141%, while stc and Maaden gained 82% and 76%, respectively.
|
Top Losers |
|||
|
Company* |
September 9, 2014 (SAR) |
August 3, 2021 (SAR) |
Variation |
|
SRMG |
21.28 |
173.00 |
713% |
|
Mouwasat |
61.4 |
191.80 |
212% |
|
Bupa Arabia |
44.63 |
138.00 |
209% |
|
Al Rajhi Takaful |
33.2 |
98.60 |
197% |
|
SISCO |
16.72 |
48.30 |
189% |
|
Al Rajhi Bank |
49.14 |
118.40 |
141% |
|
Alujain |
27.23 |
63.50 |
133% |
|
SAIC |
25.07 |
55.40 |
121% |
|
eXtra |
61.31 |
134.00 |
119% |
|
Al Othaim Markets |
55.6 |
117.40 |
111% |
|
Aldrees |
32.42 |
66.30 |
105% |
|
SARCO |
90.51 |
171.60 |
90% |
|
stc |
75.1 |
136.40 |
82% |
|
Maaden |
39.67 |
69.80 |
76% |
|
Al-Baha |
22.5 |
39.05 |
74% |
|
Tawuniya |
50.9 |
85.20 |
67% |
|
Advanced |
45.13 |
73.00 |
62% |
|
AXA |
27.24 |
43.00 |
58% |
|
Arriyadh Development |
18.98 |
29.00 |
53% |
|
Al-Jouf Agricultural |
54.96 |
79.90 |
45% |
*Taking into account the adjustments to capital during that period
On the other hand, Fawaz Abdulaziz Alhokair Co. and The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) led losers, plunging 81% and 80% respectively. Saudi Enaya Cooperative Insurance Co. followed with a drop of 76%.
|
Top Losers |
|||
|
Company* |
September 9, 2014 (SAR) |
August 3, 2021 (SAR) |
Variation |
|
Fawaz Alhokair |
119.01 |
23.00 |
(81%) |
|
MEDGULF |
127.27 |
25.20 |
(80%) |
|
Saudi Enaya |
185.7 |
45.00 |
(76%) |
|
Alhokair Group |
99.31 |
24.70 |
(75%) |
|
Seera |
69.65 |
21.30 |
(69%) |
|
Amiantit |
85.73 |
26.50 |
(69%) |
|
Etihad Etisalat |
93.04 |
32.00 |
(66%) |
|
Etihad Atheeb |
83.74 |
31.60 |
(62%) |
|
Saudi Catering |
193.03 |
77.40 |
(60%) |
|
Aljazira Takaful |
78.16 |
32.50 |
(58%) |
|
Naseej |
247.06 |
105.00 |
(58%) |
|
Tihama |
122.04 |
54.10 |
(56%) |
|
Kingdom Holding |
23.79 |
10.80 |
(55%) |
|
Red Sea |
65.5 |
29.80 |
(55%) |
|
Nama Chemicals |
98.20 |
48.35 |
(51%) |
|
Yamama Cement |
67.54 |
33.50 |
(50%) |
|
Farm Superstores |
75.7 |
38.05 |
(50%) |
|
Savola Group |
84.24 |
42.95 |
(49%) |
|
Gulf Union |
41.55 |
21.26 |
(49%) |
|
Al Alamiya |
62.87 |
32.50 |
(48%) |
*Taking into account the adjustments to capital during the period
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