Saudi Arabia’s stock market cap rises 5% to $3 trillion

Reuters/Faisal Al Nasser

Saudi Arabia’s total stock market capitalisation reached SAR 11.41 trillion ($3.04 trillion), rising 5.33 percent year-on-year in the first nine months of 2023, according to a report issued by the Saudi stock exchange (Tadawul).

Tadawul All Share Index (Tasi) closed at 11,055.96 points, down 349.36 points in the year to September, or just over 3 percent year-on-year. The highest closing level for the index was 11,906.13 points on July 26, 2023.

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The total value of shares traded reached SAR 974.20 billion, falling 30 percent year-on-year.

The total volume of shares traded reached 67.19 billion between January and September 2023, up 4.55 percent from 64.26 billion a year earlier.

The total number of transactions executed reached 67.50 million, falling 0.52 percent annually.

Tadawul last month launched four new indices based on company size and public listing performance. The four Size Indices are the Tadawul Large Cap Index, Tadawul Medium Cap Index, Tadawul Small Cap Index and the Tadawul IPO Index.

In addition, the bourse operator said it will introduce the Tadawul IPO index to track the performance of companies listed on the main market within the past five years.

The new index will provide investors with a benchmark to evaluate the performance of their IPOs and a unique opportunity to invest in new and rapidly growing companies.