RIYADH: The total equity market capitalization of Saudi Arabia’s stock exchange, also known as Tadawul, rose by 2.7 percent month-on-month in March to SR9.98 trillion ($2.66 trillion).
In its statistical report for the first quarter of 2023, Tadawul revealed that foreign investors’ ownership accounted for 3.47 percent of the exchange’s total market capitalization.
The market capitalization, however, decreased by 6.54 percent over the same period in 2021.
The report also added that Saudi Arabia’s Tadawul All Share Index closed at 10,590.10 points at the end of the first quarter, down 2,500.30 points, or 19.10 percent, over the same period of the previous year.
According to the report, the total value of shares traded in the first quarter of 2023 reached SR269.71 billion, down by 50.31 percent year-on-year.
On Monday, Tadawul All Share Index continued the upward trend it has been maintaining for over a week, as it went up 170.27 points, or 1.60 percent, to 10,806.89.
The parallel market Nomu also went up – by 130.58 points or 0.65 percent – to close at 20,117.77, and the MSCI Tadawul 30 Index likewise saw an increase, up 2.04 percent to 1,471.61.
The total trading turnover of the benchmark index was SR6.67 billion.
Tihama Advertising and Public Relations Co. was the top gainer of the day, as its share prices went up by 9.98 percent to SR18.22, followed by Saudi Reinsurance Co. and Riyad Bank whose shares increased by 6.76 percent and 5.93 percent respectively.
The worst performer was Gulf Insurance Group. The company’s share prices dropped 3.70 percent to SR27.30.
On the announcements front, Saudi Arabia’s Capital Market Authority approved Alpha Capitals’ request to grant the public offering of Alpha Saudi Freestyle Equity Fund.
In a statement, CMA noted that granting the approval of the fund should never be considered as a recommendation to subscribe to the fund, but it means that the legal requirements as per the Capital Market Law and its Executive Regulations have been met.
Meanwhile, the Academy of Learning Co.’s directors have recommended to divide the nominal value of the share from SR10 to SR1, a statement said. As a result of this development, the total number of shares will rise from six million to 60 million.
According to a statement to Tadawul, shareholders of Tihama Advertising and Public Relations Co. approved the decision of the board to raise capital through an SR350 million rights offering.
The statement further noted that Tihama Advertising and Public Relations Co.’s capital after the increase stands at SR400 million, while the the shares after increase stand at 40 million.
