By: Thabet Shehata
Riyadh – Mubasher: The banking sector’s stocks on the Saudi Stock Exchange (Tadawul) topped blue-chip peers by the end of the third quarter of 2018, led by Al Rajhi Bank’s stock with 15.13%.
The list of 30 heavyweight stocks on the Saudi bourse includes 11 banks, accounting for 36.7% of the benchmark, according to Tadawul’s data.
The Saudi Basic Industries Corporation’s (SABIC) stock came second among blue-chips with 9.68%, followed by the National Commercial Bank’s (NCB) stock with 5.83%, while the shares of Samba Financial Group and Saudi Telecom Company (STC) ranked fourth and fifth with 3.9% and 3.38%, respectively.
On a related note, the stocks of Sahara Petrochemical Co, Saudi International Petrochemical Company (Sipchem), Bank Albilad, and the Saudi Investment Bank (SAIB) added 0.96% to 0.85% from the benchmark’s weight.
Translated by: Mohamed Hesham Azab