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TASI ends 2022 with first loss since 2015 of 7.1%
Tadawul trading screen
Saudi Arabia’s Tadawul All Share Index (TASI) ended 2022 with a decline of 7.1%, or 804 points, at 10,478 points, compared to 11,282 points in 2021, data compiled by Argaam show.
This is the first loss recorded by TASI since 2015, when it dropped 17%.
The benchmark gained 16% (1,808 points) in Q1 2022, and then fell 12% (1,567 points) in Q2 2022. It edged down 1% (118 points) in Q3 2022, and deepened its losses to 8.1% (927 points) in Q4 2022.
The index was hit by the state of uncertainty about global economic recessions and interest-rate hike repercussions. This is besides oil price fluctuations.
Major events impacting Saudi market's performance in 2022:
- The Saudi Central Bank (SAMA) raised the interest rates seven times after the US Federal Reserve’s consecutive interest-rate hike decisions. SAMA raised the repo and reverse repo rates to 500 and 450 basis points (bps), respectively.
- The Saudi Exchange (Tadawul) witnessed the initial public offerings (IPOs) of 17 companies, including the first dual listing as well as the approval to list four others.
- OPEC+ issued a number of decisions in light of the global oil market events. It cut oil output by two million barrels per day (bpd) as of November 2022, and agreed to stick to its oil output targets in December.
- The onset of the Russia-Ukraine war and the state of uncertainty it caused on oil markets and the global economy.
- Prices of Brent crude reached their highest and lowest levels of $139 and $75 a barrel, respectively, during the year.
- Saudi Tadawul Group Holding Co. (Tadawul Group) implemented new improvements to develop the post-trading infrastructure and increase its efficiency. Single stock futures (SSFs) were also launched, and the market-making framework for equity and derivatives markets was introduced.
- Amendment to the rules on the offering of securities and continuing obligations to offer an additional option of increasing capital through the issuance of shares without a rights issue.
- Delisting of National Petrochemical Co. (Petrochem) after its merger with the Saudi Industrial Investment Group (SIIG). In addition, Saudi Indian Company for Cooperative Insurance (Wafa Insurance) got delisted after the start of liquidation procedures.
- Tadawul also witnessed the delisting of AlAhli Takaful Co. (ATC) after its merger with Arabian Shield Cooperative Insurance Co. Further, SABB Takaful was delisted after its merger with Walaa Cooperative Insurance Co.
- Lifting COVID-19-related precautionary and preventive measures.
- King Salman bin Abdulaziz Al Saud issued a royal decree to earmark SAR 20 billion to face the repercussions of global price hikes.
- Another royal decree was also issued to appoint Crown Prince Mohammad bin Salman as Prime Minister.
- The Saudi economy recorded the highest growth rates among G20 countries this year.
- The Ministry of Finance announced the state's general budget for 2023, with an estimated revenue of SAR 1.130 trillion. Expenditures were forecasted at SAR 1.114 trillion, showing an expected surplus of SAR 16 billion.
|
TASI Performance Since 2005 |
|||
|
Year |
Closing (points) |
Change (points) |
Change (%) |
|
2005 |
16713 |
+8507 |
+104% |
|
2006 |
7934 |
(8779) |
(53%) |
|
2007 |
11039 |
+3105 |
+39% |
|
2008 |
4803 |
(6236) |
(56%) |
|
2009 |
6122 |
+1319 |
+27% |
|
2010 |
6621 |
+499 |
+8% |
|
2011 |
6418 |
(203) |
(3%) |
|
2012 |
6801 |
+383 |
+6% |
|
2013 |
8536 |
+1735 |
+26% |
|
2014 |
8333 |
(203) |
(2%) |
|
2015 |
6912 |
(1421) |
(17%) |
|
2016 |
7210 |
+298 |
+4% |
|
2017 |
7226 |
+16 |
+0.2% |
|
2018 |
7827 |
+601 |
+8% |
|
2019 |
8389 |
+562 |
+7% |
|
2020 |
8690 |
+301 |
+4% |
|
2021 |
11282 |
+2592 |
+30% |
|
2022 |
10478 |
(804) |
(7%) |
:Quarterly performance
|
TASI Quarterly Performance Since 2010 |
|||
|
Year |
Opening (points) |
Closing (points) |
Change (points) |
|
2010 |
|||
|
Q1 2010 |
6122 |
6801 |
+11.1% |
|
Q2 2010 |
6801 |
6094 |
(10.4%) |
|
Q3 2010 |
6094 |
6392 |
+4.9% |
|
Q4 2010 |
6392 |
6621 |
+3.6% |
|
2011 |
|||
|
Q1 2011 |
6621 |
6563 |
(0.9 (% |
|
Q2 2011 |
6563 |
6576 |
+0.2% |
|
Q3 2011 |
6576 |
6112 |
)7.1%) |
|
Q4 2011 |
6112 |
6418 |
+5.0% |
|
2012 |
|||
|
Q1 2012 |
6418 |
7835 |
+22.1% |
|
Q2 2012 |
7835 |
6710 |
(14.4%) |
|
Q3 2012 |
6710 |
6840 |
+1.9% |
|
Q4 2012 |
6840 |
6801 |
(%0.6) |
|
2013 |
|||
|
Q1 2013 |
6801 |
7126 |
+4.8% |
|
Q2 2013 |
7126 |
7497 |
+5.2% |
|
Q3 2013 |
7497 |
7965 |
+6.2% |
|
Q4 2013 |
7965 |
8536 |
+7.2% |
|
2014 |
|||
|
Q1 2014 |
8536 |
9474 |
+11.0% |
|
Q2 2014 |
9474 |
9513 |
+0.4% |
|
Q3 2014 |
9513 |
10855 |
+14.1% |
|
Q4 2014 |
10855 |
8333 |
(%23.2) |
|
2015 |
|||
|
Q1 2015 |
8333 |
8779 |
+5.3% |
|
Q2 2015 |
8779 |
9087 |
+3.5% |
|
Q3 2015 |
9087 |
7404 |
(18.5%) |
|
Q4 2015 |
7404 |
6912 |
(6.7%) |
|
2016 |
|||
|
Q1 2016 |
6912 |
6223 |
((10.0% |
|
Q2 2016 |
6223 |
6500 |
+4.4% |
|
Q3 2016 |
6500 |
5623 |
(%13.5) |
|
Q4 2016 |
5623 |
7210 |
+28.2% |
|
2017 |
|||
|
Q1 2017 |
7210 |
7002 |
(2.9%) |
|
Q2 2017 |
7002 |
7426 |
+6.1% |
|
Q3 2017 |
7426 |
7283 |
(%1.9) |
|
Q4 2017 |
7283 |
7226 |
(0.8% ( |
|
2018 |
|||
|
Q1 2018 |
7226 |
7871 |
+8.9% |
|
Q2 2018 |
7871 |
8314 |
+5.6% |
|
Q3 2018 |
8314 |
8000 |
(%3.8) |
|
Q4 2018 |
8000 |
7827 |
(2.2%) |
|
2019 |
|||
|
Q1 2019 |
7827 |
8819 |
+12.7% |
|
Q2 2019 |
8819 |
8822 |
+0.03% |
|
Q3 2019 |
8822 |
8092 |
(8.3%) |
|
Q4 2019 |
8092 |
8389 |
+3.7% |
|
2020 |
|||
|
Q1 2020 |
8389 |
6505 |
(22.5%) |
|
Q2 2020 |
6505 |
7224 |
+11.0% |
|
Q3 2020 |
7224 |
8299 |
+14.9% |
|
Q4 2020 |
8299 |
8690 |
+4.7% |
|
2021 |
|||
|
Q1 2021 |
8690 |
9908 |
+14.0% |
|
Q2 2021 |
9908 |
10984 |
+10.9% |
|
Q3 2021 |
10984 |
11496 |
+4.7% |
|
Q4 2021 |
11496 |
11282 |
(1.9%) |
|
2022 |
|||
|
Q1 2022 |
11282 |
13090 |
+16.0% |
|
Q2 2022 |
13090 |
11523 |
(12.0%) |
|
Q3 2022 |
11523 |
11405 |
(1.0%) |
|
Q4 2022 |
11405 |
10478 |
(8.1%) |
Monthly performance:
TASI gained in seven months of 2022. It recorded the biggest monthly rise of 8.8% in January, followed by 5.9% in July.
Meanwhile, the benchmark declined in five months. It recorded the biggest monthly fall of 10.8% in June, followed by another in September (7.1%) and November (6.6%).
|
TASI Monthly Performance in 2022 |
|||
|
Month |
Closing (points) |
Change (points) |
Change (%) |
|
January |
12272 |
+990 |
+8.8% |
|
February |
12590 |
+318 |
+2.6% |
|
March |
13090 |
+500 |
+4.0% |
|
April |
13734 |
+644 |
+4.9% |
|
May |
12922 |
(812) |
(5.9%) |
|
June |
11523 |
(1399) |
(10.8%) |
|
July |
12199 |
+676 |
+5.9% |
|
August |
12283 |
+84 |
+0.7% |
|
September |
11405 |
(878) |
(7.1%) |
|
October |
11668 |
+263 |
+2.3% |
|
November |
10897 |
(771) |
(6.6%) |
|
December |
10478 |
(419) |
(3.8%) |
Market sectors ended the year on a negative note, except for healthcare as well as software and services. Utilities also rose by 21-25%.
The pharmaceuticals sector was the top loser, dropping 45%, followed by consumer durables with a 33% contraction. Capital Goods also declined by 31%.
|
Performance by Sector in 2022 |
||||
|
Sector |
2021 |
2022 |
Change (points) |
Change(%) |
|
Energy |
5515 |
5427 |
(88) |
(2%) |
|
Materials |
7344 |
6290 |
(1054) |
(14%) |
|
Capital Goods |
7545 |
5226 |
(2319) |
(31%) |
|
Commercial & Professional Services |
4444 |
3436 |
(1008) |
(23%) |
|
Transportation |
5234 |
4541 |
(693) |
(13%) |
|
Consumer Durables |
6349 |
4225 |
(2124) |
(33%) |
|
Consumer Services |
4640 |
3690 |
(950) |
(20%) |
|
Media |
23254 |
21496 |
(1758) |
(8%) |
|
Retailing |
9847 |
7174 |
(2673) |
(27%) |
|
Food Retailing |
9122 |
8541 |
(581) |
(6%) |
|
Food & Beverages |
4836 |
4640 |
(196) |
(4%) |
|
Healthcare |
7315 |
9110 |
1795 |
25% |
|
Pharmaceuticals |
5191 |
2873 |
(2318) |
(45%) |
|
Banks |
12221 |
11542 |
(679) |
(6%) |
|
Diversified Financials |
6829 |
6361 |
(468) |
(7%) |
|
Insurance |
5990 |
5317 |
(673) |
(11%) |
|
Software and Services |
28654 |
35888 |
7234 |
25% |
|
Telecom |
7278 |
6389 |
(889) |
(12%) |
|
Utilities |
5933 |
7174 |
1241 |
21% |
|
REITs |
4612 |
3975 |
(637) |
(14%) |
|
Real Estate Management |
3171 |
2500 |
(671) |
(21%) |
|
Market |
11282 |
10478 |
(804) |
(7%) |
Index performance:
TASI hit its highest level in 2022 at 13,949 points on May 9. It reached its highest and lowest levels of 13,820 and 9,950 points on May 8 and Dec. 12, respectively.
The benchmark's highest daily trading value was recorded on May 31 at SAR 18.08 billion. The highest daily trading volume came on May 22 at 792.38 million shares.
|
TASI performance in 2022 |
|||
|
Period |
Performance |
Date |
Notes |
|
Highest (points) |
13949 |
May 9 |
Highest since April 2006 |
|
Lowest (points) |
9950 |
Dec. 12 |
-- |
|
Highest close (points) |
13820 |
May 8 |
Highest close since 2006 |
|
Lowest close (points) |
10033 |
Dec. 12 |
Lowest close since April 2021 |
|
Highest traded value (SAR bln) |
18.08 |
May 31 |
-- |
|
Lowest traded value (SAR bln) |
1.92 |
Dec. 26 |
Lowest since December 2019 |
|
Highest traded shares |
792.38 |
May22 |
Including the negotiated deal, through which PIF acquired 16.87% of Kingdom Holding for SAR 5.7 billion |
Sessions of biggest gains and losses:
TASI recorded its biggest daily gain of 2.4% on May15.
|
Sessions of biggest gains in 2022 |
||||
|
Session |
Opening (points) |
Closing (points) |
Change (points) |
Change (%) |
|
May 15 |
11660 |
13149 |
314 |
2.4% |
|
June 21 |
12589 |
11660 |
298 |
2.6% |
|
May25 |
11555 |
12589 |
288 |
2.3% |
|
July 18 |
12656 |
11555 |
263 |
2.3% |
|
March 16 |
11671 |
12656 |
249 |
2.0% |
|
June 28 |
11810 |
11671 |
244 |
2.1% |
|
Oct. 18 |
11405 |
11810 |
244 |
2.1% |
|
Sept. 29 |
12907 |
11405 |
235 |
2.1% |
|
May 30 |
11761 |
12907 |
218 |
1.7% |
|
July 19 |
11513 |
11761 |
206 |
1.8% |
|
Sessions of biggest decline in 2022 |
||||
|
Session |
Opening (points) |
Closing (points) |
Change (points) |
Change (%) |
|
May 12 |
13379 |
12835 |
(544) |
(4.1%) |
|
June 19 |
12835 |
11299 |
(525) |
(4.4%) |
|
June 22 |
10419 |
11320 |
(340) |
(2.9%) |
|
May 10 |
12053 |
13509 |
(306) |
(2.2%) |
|
Dec. 5 |
11161 |
10419 |
(305) |
(2.8%) |
|
Sept. 25 |
10185 |
11161 |
(300) |
(2.6%) |
|
Dec. 7 |
10909 |
10185 |
(259) |
(2.5%) |
|
Sept. 26 |
12428 |
10909 |
(252) |
(2.3%) |
|
May19 |
12322 |
12428 |
(285) |
(2.2%) |
|
June12 |
13509 |
12322 |
(282) |
(2.2%) |
Trading value:
Total trading value declined in 2022, amounting to SAR 1.708 trillion, down 24% compared with SAR 2.235 trillion a year earlier.
|
Trading Value (SAR bln) |
||||
|
Month |
2021 |
2022 |
Daily average |
Change (%) |
|
January |
160.81 |
148.64 |
6.76 |
(8%) |
|
February |
245.75 |
159.51 |
8.40 |
(35%) |
|
March |
290.69 |
234.67 |
10.20 |
(19%) |
|
April |
188.57 |
184.20 |
9.21 |
(2%) |
|
May* |
158.72 |
166.91 |
9.27 |
+5% |
|
June |
294.72 |
143.86 |
6.54 |
(51%) |
|
July** |
144.85 |
95.65 |
5.63 |
(34%) |
|
August |
154.11 |
158.84 |
6.91 |
+3% |
|
September |
147.86 |
108.61 |
5.43 |
(27%) |
|
October |
156.50 |
116.30 |
5.29 |
(26%) |
|
November |
133.29 |
106.66 |
5.08 |
(20%) |
|
December |
160.03 |
84.21 |
4.01 |
(45%) |
|
Total |
2235.90 |
1708.04 |
6.89 |
(24%) |
*Eid al-fitr Holiday
**Eid al-Adha Holiday
Stock performance:
For stock performance, 36 companies closed the year higher, while 152 stocks ended in the red.
Dallah Healthcare Co. was the best performer for the year, surging 97%, followed by ACWA Power Co., which jumped 81%.
|
Top 10 Performers in 2022* |
|||
|
Company |
2021 (SAR) |
2022 (SAR) |
Change (%) |
|
Dallah Healthcare |
75.10 |
148.00 |
97% |
|
ACWA Power |
84.00 |
152.00 |
81% |
|
Maaden |
39.25 |
64.70 |
65% |
|
Tanmiah |
82.10 |
131.20 |
60% |
|
Tadawul Group |
125.80 |
181.00 |
44% |
|
ANB |
22.86 |
32.05 |
40% |
|
Bupa Arabia |
105.15 |
143.80 |
37% |
|
Sulaiman Al Habib |
161.40 |
220.60 |
37% |
|
Alkhorayef Water |
102.40 |
139.40 |
36% |
|
Alinma Bank |
23.96 |
32.55 |
36% |
Insurance companies led decliners, led by United Cooperative Assurance Co. (UCA), Al Sagr Cooperative Insurance Co. and Arabia Insurance Cooperative Co., which plunged by 70-79%.
|
Top 10 Losers in 2022* |
|||
|
Company |
2021 (SAR) |
2022 (SAR) |
Change (%) |
|
UCA |
33.95 |
7.20 |
(79%) |
|
Al Sagr |
50.87 |
14.04 |
(72%) |
|
Arabia Insurance |
35.83 |
10.00 |
(72%) |
|
Saudi Enaya |
31.48 |
8.98 |
(71%) |
|
Salama |
42.50 |
12.96 |
(70%) |
|
Sadr Logistics |
102.40 |
32.30 |
(68%) |
|
Arab Sea |
196.00 |
64.00 |
(67%) |
|
AlinmaTokio |
31.40 |
12.00 |
(62%) |
|
CHUBB Arabia |
36.55 |
15.50 |
(58%) |
|
Amana Insurance |
20.83 |
9.13 |
(56%) |
Performance of listed companies in 2022:
Tadawul witnessed the listing of 17 companies in 2022, four of which moved up compared to the listing price.
|
Performance of listed companies in 2022 |
||||
|
Company |
Listing Price (SAR) |
Possible Trading Price (SAR)* |
2022 (SAR) |
Change** |
|
East Pipes*** |
53.33 |
58.18 |
37.30 |
(36%) |
|
SHL |
20.00 |
27.90 |
20.48 |
(27%) |
|
Equipment House |
52.00 |
78.75 |
61.10 |
(22%) |
|
Naqi |
69.00 |
82.80 |
65.70 |
(21%) |
|
AMAK |
63.00 |
87.65 |
71.90 |
(18%) |
|
Alsaif Gallery |
115.00 |
105.35 |
90.50 |
(14%) |
** Change compared to the possible trading price
***Change of listing price and possible trading prices to increase capital
Performance of REITs:
Real estate investment trusts (REITs) declined in 2022, except for Riyadh REIT that rose 0.3%.
SICO Saudi REIT was the worst performer, plunging 35%, followed by MEFIC REITthatdived 34%.
|
Performance of REITs in 2022 |
|||
|
REIT |
2021 (SAR) |
2022 (SAR) |
Change |
|
SICO Saudi REIT |
8.57 |
5.59 |
(35%) |
|
MEFIC REIT |
7.22 |
4.77 |
(34%) |
|
AlinmaRetail REIT |
7.15 |
4.90 |
(31%) |
|
AlJazira REIT |
22.78 |
17.84 |
(22%) |
|
Mulkia REIT |
9.85 |
7.75 |
(21%) |
|
Derayah REIT |
12.70 |
10.12 |
(20%) |
|
Jadwa REIT Al Haramain |
8.00 |
6.86 |
(14%) |
|
SEDCO Capital REIT |
12.00 |
10.32 |
(14%) |
|
Jadwa REITSaudi |
14.98 |
12.90 |
(14%) |
|
Alkhabeer REIT |
8.67 |
7.60 |
(12%) |
|
AlAhli REIT 1 |
11.40 |
10.10 |
(11%) |
|
Musharaka REIT |
9.92 |
8.85 |
(11%) |
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