530 billion riyals stock market gains in the first quarter

The Saudi stock market, Tadawul, witnessed strong gains in the first quarter of 2021, amounting to 530 billion riyals, after it continued to rise in March for the third month in a row, in light of indications of the start of a recovery from the repercussions of Corona. The general market index “TASI” jumped about 14% in the first quarter after adding 1,218.3 points to its balance, which it raised to the level of 9,907.82 points, compared to 8,689.53 points, by the end of 2020, and the market capital gained about 530 billion riyals, in the first three months of the year. In 2021, the market value of the shares listed in Tadawul will reach 9.63 trillion riyals, compared to 9.1 trillion riyals at the end of the previous quarter. All sectors witnessed a positive performance in the first quarter of this year, with the exception of the food production sector, which bucked the trend with a decline of 0.77%. The major sectors led the market’s gains, the banking sector rose 22.12%, the basic materials sector recorded an increase of 16%, and the telecommunications and energy sectors gained 15.5% and 2.78%, respectively. Trading values ​​decreased in the first quarter of 2021 to 697.26 billion riyals, compared to 733.34 billion riyals. For the previous quarter, a decline of about 5%, bringing the monthly average to 244.4 billion riyals, and trading volumes fell about 18.45% to about 22 billion shares compared to 27 billion shares recorded by the market in the fourth quarter of 2020, bringing the monthly average to 8 billion shares. Monthly performance, benchmark record The year for the Saudi stock market, an increase of 8.34%, during the month of March, adding 762.83 points to its balance, compared to the February close, which was at the level of 9,144.99 points.

In the same context, the Capital Market Authority (Tadawul) announced the suspension of trading the shares of 7 companies because they did not adhere to the announcement of the annual financial statements within the specified regular period. The statutory requirements specified in the Rules for the Offer of Securities and Continuing Obligations issued by the Board of the Capital Market Authority.

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