Tawasul
Mubasher TV
Contact Us Advertising   العربية

Saudi bourse rises 15.36% in Q3 after economic activity resumption

Saudi bourse rises 15.36% in Q3 after economic activity resumption
Traded values totalled SAR 259.25 billion in Q3-20.

Riyadh – Mubasher: The Saudi bourse’s general index, the Tadawul All Share Index (TASI), leapt by 15.36% or 1,109 points in the third quarter (Q3) of 2020 to stand at the level of 8,333.48 points, compared with 7,224.09 points in Q2-20.

This comes after the kingdom had resumed the economic activity starting as of 21 June following a coronavirus-induced lockdown period.

The market capital for listed shares surged by SAR 897 billion in Q3 of the year, reaching SAR 9.13 trillion from SAR 8.233 trillion in the previous quarter.

The market’s benchmark index succeeded to record its highest level since the coronavirus crisis at 8,390 points, wiping out its losses registered since the onset of the year, a member of the Saudi Economic Association, Saad Al Thaqfan, told Mubasher.

It was noticed that the Saudi market’s performance was not mostly affected by what is happening in international markets, he remarked, adding that the market witnessed high turnover levels that have not been seen in years particularly in the last sessions of the quarter, with the average daily liquidity amounting to around SAR 13 billion.

Materials headed the winners with 13.8%, followed by energy and banks with 11.89% and 10.84%, respectively. Telecommunication services was the least rising sector with 3.3%.

Traded values totalled SAR 259.25 billion in Q3-20, a marginal drop of 4.2% when compared to SAR 552.3 billion in Q2-20.

On the other hand, traded volume rose by 42% to stand at 23.56 billion shares in Q3-20 from 16.6 billion a quarter earlier.

(Contributed by: Thabet Shehata - Translated by: Amal A. Wahaab)