TASI rises 26% to 10,984 points in H1 2021, most stocks gain

01/07/2021 Argaam Special


Saudi Arabia's Tadawul All Share Index (TASI) closed H1 2021 in the positive territory, rising 26%, or 2,294 points, to 10,984 points, compared to 8,690 points at the end of 2020.

 

In H1 2021, TASI crossed the 11,000-mark in the last session, for the first time since 2014. 

 

The benchmark rose by 14%, or 1,218 points, in Q1 2021, and by 11%, or 1,076 points, in Q2.

 

Accordingly, the Saudi gauge extended its uptrend for the fifth straight quarter to record the highest quarterly close since Q4 2007, when it closed at 11,039 points.

 

Key highlights in Q2 2021:

 

Crown Prince Mohammed bin Salman issued statements on the Kingdom’s economic progress, in line with Vision 2030.

 

Oil prices hit two-and-a-half-year high, with Brent crude rising above $76/bbl.

 

Saudi Arabia lifted ban on citizens travelling abroad on May 17.

 

Delisting of Samba Financial Group after its merger with National Commercial Bank, to form Saudi National Bank (SNB).

 

The Capital Market Authority (CMA) approved listing of four companies on the main market, namely solutions by stc, ACWA Power, Tanmiah Food Co., and Arabian Contracting Services Co.

 

Saudi Arabia extended the deferred payment program for additional three months ending Sept. 30.

 

Saudi Arabia announced Q1 2021 budget with SAR 205 billion in revenue and SAR 212 billion in expenditure.

 

TASI Performance since Q1 2020

Period

Opening (points)

Closing (points)

Variation %

Q1 2020

8,389

6,505

(22.5%)

Q2 2020

6,505

 7,224

+ 11.0 %

Q3 2020

 7,224

8,299

+ 14.9 %

Q4 2020

8,299

8,690

+ 4.7 %

Q1 2021

8,690

9,908

+ 14.0 %

Q2 2021

9,908

10,984

+ 10.9%

 

The Saudi benchmark reported strong performance during H1 2021, with an increase of 8.3% in March, and February and April with more than 5% gains each.

 

All market sectors ended H1 2021 in the green, led by media and entertainment with 111%, and investment and finance at 75%.

 

Banks and materials increased by 36% and 27%, respectively, while energy inched up 3%.

 

The Saudi gauge's turnover hit SAR 1.339 trillion in H1 2021, versus SAR 825.2 billion in the year earlier period.

 

As for listed companies, Etihad Atheeb Telecom Co. (GO) was the top gainer in H1 2021, surging 233%.

 

Top Gainers (SAR)

Company

End of 2020

H1 2021

Variation %

Etihad Atheeb

*11.06

36.85

 +233 %

SAIC

18.90

56.40

 +198 %

AlAbdullatif

15.30

37.35

 +144 %

Al-Jouf Agriculture

36.70

84.30

 +130 %

SRMG

78.50

177.00

 +125 %

Shaker

16.12

32.80

 +103 %

Fitaihi Group

17.78

35.75

+101 %

Knowledge City

11.88

22.94

 +93 %

Astra

25.70

49.35

 +92 %

Zamil Industrial

20.76

39.00

 +88 %

Al Yamamah Steel

29.65

54.70

 +84 %

National Gypsum

27.95

51.40

 +84 %

MEPCO

19.32

35.05

 +81 %

SIDC

14.20

25.40

 +79 %

Takween

14.00

24.96

 +78 %

Sipchem

17.32

30.65

 +77 %

Al Akaria

15.12

26.70

 +77 %

TADCO**

23.25

39.95

 +72 %

Petro Rabigh

13.82

23.50

 +70 %

MESC

15.42

26.20

 +70 %

* Stock opening price after lifting trading halt on Feb. 14, 2021.

** Capital amendment during the period.

 

Meanwhile, Allied Cooperative Insurance Group (ACIG) was the worst performer, plummeting 27% in H1 2021.

 

Top Losers (SAR)

Company

End of 2020

H1 2021

Variation %

ACIG

62.80

46.15

(27%)

Amana Insurance*

68.53

61.70

(10%)

BinDawood

119.00

110.80

(7%)

Bahri

40.55

39.10

(4%)

MEDGULF*

27.10

26.95

(1%)

Al-Etihad

24.58

24.52

(0.2%)

* Capital amendment during the period.

 

All market heavyweights reported robust performance in H1 2021, with Al Rajhi Bank rising 51% while Saudi Arabian Mining Co. (Maaden) soared by 56%

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.