Saudi Arabia’s Tadawul All Share Index (TASI) ended last year slightly higher, edging up 0.2 percent, or 16 points, to close at 7,226 points, compared to 7,210 points in 2016, data compiled by Argaam showed.

 

The benchmark dropped by 3 percent (208 points) in Q1 2017, but bucked the downtrend in Q2, rising 6 percent (424 points).

 

The increase was backed by the selection of Prince Mohammed bin Salman as crown prince, the addition of Tadawul to MSCI's emerging market index watch list, in addition to King Salman's royal order to retroactively restore all allowances, bonuses and financial benefits to civil service workers.

 

Meanwhile, TASI retreated in the last two quarters by 2 percent and 1 percent respectively.

 

During the year, the Saudi market witnessed a number of regulatory measures, namely, the reclassification of market sectors into twenty industry groups; the implementation of a T+2 settlement cycle for share trading; the implementation of new rules governing listed companies with accumulated losses of 20 percent of their capital; and the amendment of securities tick sizes (price change units).

 

Shares of Zahrat Al Waha For Trading Co. were listed on Tadawul in September, while the initial public offering (IPO) of Arabian Waterproofing Industries Co. (Awazel) was cancelled in October.

 

In terms of monthly performance in 2017, the Saudi benchmark recorded a 7-month high of 8 percent in June, but plunged by 5 percent in October, recording a 5-month low.

 

TASI Monthly Performance in 2017

Month

Closing (points)

Variation (points)

Variation %

January

7,102

(108)

(1%)

February

6,972

(130)

(2%)

March

7,002

+30

+0.4%

April

7,013

+11

+0.2%

May

6,871

(142)

(2%)

June

7,426

+555

+8%

July

7,094

(332)

(4%)

August

7,259

+165

+2%

September

7,283

+24

+0.3%

October

6,934

(349)

(5%)

November

7,004

+70

+1%

December

7,226

+222

+3%

 

Fifteen market sectors ended the year in the red, dragged by the Pharmaceuticals, Biotech & Life Science sector, which fell by 26 percent. Consumer Services followed, dropping by 24 percent.

 

Meanwhile, five segments closed the year in the positive territory, led by Media with a 51 percent surge,  followed by Retail (15 percent), Food & Staples Retailing (11 percent), and Banks (8 percent).

 

Sector Performance in 2017

Sector

2016-end

2017-end

Variation (%)

Energy

4,977

4,280

(14%)

Basic materials

4,983

5,054

+1%

Capital goods

4,990

4,341

(13%)

Commercial & Professional Services

5,044

4,206

(17%)

Transportation

5,099

4,012

(21%)

Consumer durables

4,646

4,141

(11%)

Consumer services

4,832

3,685

(24%)

Media

5,121

7,736

+51%

Retailing

4,910

5,633

+15%

Food Retailing

5,053

5,610

+11%

Food & Beverages

4,902

4,897

(0.1%)

Healthcare

5,018

4,443

(11%)

Pharma.

5,383

3,971

(26%)

Banks

5,085

5,502

+8%

Diversified financials

4,987

4,030

(19%)

Insurance

4,912

4,724

(4%)

Telecom

5,002

4,252

(15%)

Utilities

4,860

4,561

(6%)

REITs

5,000

4,633

(7%)

Real Estate Management

5,016

4,697

(6%)

Market

7,210

7,226

+0.2%

 

The market's turnover steeply declined by 28 percent year-on-year (YoY) to SAR 836 billion during the 12-month period.

 

Trading Volumes in 2017 (SAR bln)

Month

2016

2017

Daily average

Variation %

January

115.1

103.2

4.49

(10%)

February

122.0

75.7

3.70

(38%)

March

131.2

72.5

3.30

(45%)

April

117.6

65.3

3.11

(44%)

May

118.0

64.7

2.81

(45%)

June

84.3

54.7

3.42

(35%)

July

59.5

60.5

2.75

+2%

August

68.0

60.2

2.87

(11%)

September

41.7

50.2

3.14

+20%

October

65.7

66.6

2.89

+1%

November

119.0

75.2

3.42

(37%)

December

115.0

87.4

4.16

(24%)

Total

1,157.1

836.3

3.35

(28%)

 

TASI recorded its highest annual level at 7,586 points in July 2, and its lowest annual level in March 14 at 6,710 points.

 

The gauge recorded its highest daily limit of 382 points in June 21, and a lowest daily limit of 194 points in July 4.

 

The benchmark's highest daily trading value was on June 21 at SAR 10 billion, while the lowest daily trading value was on June 13 at SAR 1.64 billion.

 

Details of Index Performance in 2017

Period

Performance

Date

Notes

Highest level (Points)

7,586

July 2

--

Lowest level (Points)

6,710

March 14

--

Most daily increase(Points)

+382

June 21

Highest increase in two years since August 2015

Most daily decline(Points)

(194)

July 4

--

Highest trading value (SAR bln)

9.96

June 21

Highest in 14 months since April 2016

Lowest trading value (SAR bln)

1.64

June 13

Lowest in 7 years since September 2010

 

As for the traded stocks, 111 companies closed the year lower, while 65 stocks ended in the green.

 

Dar Al Arkan Real Estate Development was the best performer for the year, soaring 134 percent, followed by Salama Cooperative Insurance Co. which surged 102 percent.

 

Top Gainers in 2017 (SAR)

Company        

2016 closing

2017 closing

Variation %

Dar Al Arkan

6.16

14.40

+134%

Salama

12.33

24.85

+102%

SRMG

33.88

59.16

+75%

Aljazira REIT

11.00

17.55

+60%

JAZADCO

11.09

17.03

+54%

eXtra*

30.85

47.35

+53%

Al Rajhi Takaful

38.57

59.10

+53%

AICC

11.30

16.81

+49%

Walaa

22.41

32.23

+44%

Petro Rabigh

11.76

16.44

+40%

Buruj

24.11

33.15

+37%

NADEC

23.96

32.35

+35%

Maaden

38.99

51.90

+33%

NCB

42.62

55.05

+29%

ACIG

15.12

19.42

+28%

SACO

85.37

109.52

+28%

Jarir

115.45

146.72

+27%

Saudi Re

6.03

7.66

+27%

Alinma

15.07

19.13

+27%

Al Othaim

98.81

122.99

+24%

*Distributed bonus shares during the period.

 

The Mediterranean and Gulf Insurance and Reinsurance Co. was the worst performer for 2017, plunging by 59 percent. It was followed by Saudi Industrial Export Co. (SIECO) which slumped 58 percent.

 

Top Losers in 2017 (SAR)

Company

2016 closing

2017 closing

Variation %

MedGulf*

67.63

27.69

(59%)

SIECO*

356.5

149.62

(58%)

Nama*

33.88

17.60

(48%)

SPCC

82.29

48.40

(41%)

SGS

66.16

39.31

(41%)

Aslak

25.73

15.89

(38%)

Mobily

23.99

14.83

(38%)

Al Sagr

39.63

24.54

(38%)

Metlife AIG ANB

24.63

15.31

(38%)

Al Hokair Group

38.35

24.68

(36%)

Red Sea

29.55

19.11

(35%)

Care

65.92

43.55

(34%)

Saudi Cement

71.22

47.43

(33%)

Qassim Cement

67.25

45.01

(33%)

Arabian Pipes

17.75

12.21

(31%)

Shaker

16.80

11.70

(30%)

Tihama*

67.92

47.85

(30%)

Bupa Arabia

131.38

93.02

(29%)

Knowledge City

18.06

12.83

(29%)

Al Khodari

13.20

9.48

(28%)

*Capital cut during the period.

 

Among the top companies, market heavyweight Saudi Basic Industries Corporation (SABIC) climbed 12 percent last year, while Al Rajhi Bank which gained 2 percent. The National Commercial Bank (NCB) increased by 29 percent.

 

Meanwhile, Jabal Omar Development dropped the most by 21 percent, followed by Saudi Arabia Fertilizers Co. (SAFCO) and Saudi Electricity Co. (SEC), which dipped 13 percent and 7 percent respectively.

 

Performance of Market’s Top Companies in 2017 (SAR)

Company

Opening

Closing

Variation %

Al Rajhi

63.09

64.62

+2%

SABIC

91.41

101.95

+12%

NCB

42.62

55.05

+29%

Jabal Omar

74.74

59.11

(21%)

SAMBA

24.35

23.50

(3%)

STC

72.55

68.60

(5%)

Alinma

15.07

19.13

+27%

Maaden

38.99

51.90

+33%

Riyad

11.55

12.50

+8%

BSF

26.02

28.60

+10%

Dar Al Arkan

6.16

14.40

+134%

Savola

40.12

39.49

(2%)

SEC

22.57

21.04

(7%)

SABB

25.00

27.00

+8%

Jarir

115.45

146.72

+27%

ANB

22.09

24.70

+12%

Almarai*

54.79

53.75

(2%)

YANSAB

54.04

58.84

+9%

SAFCO

74.65

65.10

(13%)

Kayan

8.84

10.68

+21%

*Distributed bonus shares during the period.

 

Ten stocks and four REITs closed the year below their par value - SAR 10 - dragged by Zain Saudi at SAR 7.31, Etihad Atheeb Telecommunication Co. at SAR 7.33, and Kingdom Holding Co. (KHC) at SAR 8.94.

 

Stocks Trading Below Nominal Value By End-2017

Company         

Stock Price (SAR)

Decline %

Zain

7.31

(26.9%)

Atheeb *

7.33

(26.7%)

Saudi Re

7.66

(23.4%)

Amiantit

8.38

(16.2%)

MESC

8.50

(15.0%)

Paper Manufacturing

8.52

(14.8%)

Kingdom Holding

8.94

(10.6%)

Mulkia REIT

9.24

(7.6%)

Al Ma’athar REIT

9.26

(7.4%)

Al Khodari

9.48

(5.2%)

Riyad REIT

9.73

(2.7%)

Musharaka REIT

9.84

(1.6%)

Hail Cement

9.90

(1.0%)

Chemanol

9.96

(0.4%)

 

Seven REITs were listed on Tadawul during 2017. Aljazira Mawten REIT and Taleem REIT rose by 60 percent and 10 percent respectively during the year, while AlMa’athar REIT retreated by 16 percent.

 

Performance of Companies & REITs Listed in 2017

Company         

Closing on first day

Closing as of

Dec. 31, 2017

Variation %

Zahrat Al Waha

48.77

49.35

+1%

Aljazira REIT

11.00

17.55

+60%

Taaleem REIT

11.00

12.09

+10%

Jadwa Al Haramain REIT

11.00

10.28

(7%)

Mulkia REIT

10.23

9.24

(10%)

Musharaka REIT

11.00

9.84

(11%)

Riyad REIT

11.00

9.73

(12%)

Al Ma’athar REIT

11.00

9.26

(16%)

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