Al Rajhi, NCB Capital top Saudi brokerages' list in April

Al Rajhi Capital has maintained the lead as the top brokerage firm operating in Saudi Arabia in April for the sixth straight month, data compiled by Argaam showed.

The brokerage accounted for 12.96 percent (SAR 20.02 billion) of total market transactions on the Saudi Stock Exchange (Tadawul) last month.

NCB Capital came in the second place, accounting for 10.71 percent (SAR 16.55 billion) of total trading last month, followed by HSBC Saudi Arabia with 8.35 percent, or SAR 12.9 billion. 

The total turnover amount is double the value disclosed by Tadawul, as brokerage firms take commission from both sellers and buyers.

The combined trading value of brokerage firms increased by around SAR 31 billion month-on-month to SAR 154.5 billion in April.

On the Nomu Parallel Market, Al Rajhi Capital topped the list of brokerages operating in April, brokering up to SAR 15.23 million of total transactions on the parallel market.

Meanwhile, the number of brokerages working on exchange-traded funds (ETFs) in April rose to 12, compared to March.

Falcom Financial Services was the leading firm for the month, accounting for 97.90 percent (SAR 450.7 million) of total trading compared to the previous month.