Tadawul’s Market Capitalisation Cross $3 Trillion mark

The total equity market capitalisation of the Saudi Arabia’s main bourse Tadawul, one of the fastest growing stck market in the region, reached $3.04 trillion in the first nine months of this year, increasing by 5.33% over the same period of the previous year.

The Tadawul All Share Index (TASI) closed at 11,055.96 points, decreased by 349.36 points (3.06%) in the first three quarters of 2023. The highest close level for the index during period was 11,906.13 point on 26 July 2023.

Even the value of shares traded reached 259.75 billion, decreasing by 30.46% over the same period of the previous year, and 67.50 million transactions took place till Sept 30 this year, compared with 67.85 million trades during the 1st Nine Months 2022, a decrease of 0.52%, the bourse disclosed on its website.

The Saudi Exchange was also added to the Stock Exchange of Hong Kong Limited, a wholly owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), as a Recognised Stock Exchange (RSE).

The addition will allow companies with a primary listing on the Saudi Exchange’s Main Market to apply for a secondary listing in Hong Kong.

This recognition follows a Memorandum of Understanding (MoU) signed in February between HKEX and the Saudi Tadawul Group, the operator of the Saudi Exchange, to explore cooperation in a number of areas, including cross-listing opportunities.

Nomu Parallel Market

However, Saudi Arabia’s Nomu Parallel index closed at 22,690.31 points at the end of the first nine months of 2023, an increase by 2,819.49 points (14.19%) over the corresponding period of the previous year. The highest close level for the index during period was 28,988.06 point on 18 June 2023

The total equity market capitalisation at the end of the September 30 this year reached $12.61 billion, increasing by 32.02% over the same period of the previous year.

The total value of shares traded during the first nine months of 2023 reached $1.69 billion, decreasing by 42.88% over the same period of the previous year.

The total number of transactions conducted during the first nine months of 2023 reached 488,18,000 compared with 555, 51,000 trades during the same period last year, a decrease of 12.12%.

The Saudi market exchange also said that the number of trading days this year till September 30 were 183 as against 184 trading days during corresponding last year.