Market Capitalisation of Saudi Arabia’s Tadawul Cross $3 Trillion Mark at End-2023

Amidst regional tensions and uncertain global economic conditions, the total market capitalisation of Saudi Arabia’s main market Tadawul grew by 13.98% and reached $3.02 trillion at the end of 2023.

In its annual statistics report for 2023, the Saudi Arabia’s bourse said that Tadawul All Share Index (TASI) gained 1,488.93 points and closed at 11,967.39 points at the end of 2023 compared with 10,478.46 points in 2022, a growth of 14.21%.

The report further said that the total value of shares traded for 2023 reached $355.5 billion compared with $455.48 billion for the previous year, a decreased by 21.95%. Even the total number of trades executed during the year 2023 reached 94.02 million compared with 87.90 million trades for the previous year, showing an increase of 6.96%.

The daily average number of trades executed during 2023 also increased by 6.53% and reached 377,57,000 compared with 354,43,000 the previous year and the daily average value of shares traded decreased by 22.26% to reach $1.43 billion compared with $1.83 billion in 2022.

Likewise, the daily average volume traded decreased marginally by 1.19% to reach 333.46 million shares compared with 337.47 million shares traded during the previous year, the report said.

IPOs in 2023

The Initial Public Offering (IPO) market continued to remain strong with eight companies/funds offered parts of their shares to the public and the total number of listed companies reached 231. The total offered value reached $3.17 billion and 476.05 million shares/units were offered for all these IPOs last year.

Again, the market capitalisation of all IPOs reached $16.83 billion representing 0.56% of the total market capitalisation.

Industry Group Activities

In term of number of trades, the materials industry group was the most active with 16.55 million trades that represented 17.6% of the total trades during the year, followed by the banking industry group with 9.22 million trades representing 9.81% and the insurance industry with 6.42 million trades representing 6.83% of the total trades executed during the year 2023.

Materials industry group led the market in terms of value of shares traded during 2023 amounting to $60.23 billion representing 16.94% of the total value traded, followed by the banking sector with $59.03 billion (16.61%) and the energy sector $32.21 billion or 9.02% of the total value traded in 2023.

Stocks Activities

Saudi Arabian Oil Co. led the market in terms of value of shares traded and has posted a value of $20.83 billion, followed by Al Rajhi Bank and The Saudi National Bank that posted a value of $20.32 billion and $12.3 billion respectively.

In terms of Volume traded, Al-Baha Investment and Development Co. topped the list with 17.17 billion shares, followed by Tourism Enterprise Co. and Americana Restaurants International PLC with a volume of 11.53 billion and 5.12 billion shares respectively.