Tadawul trading screen
Tadawul All Share Index (TASI) ended the first quarter of 2023 with a rise of 1.1%, or 112 points, at 10,590 points, compared to 10,478 points at the end of 2022.
Economic uncertainty continued in Q1 2023 amid the global banking turmoil after the collapse of Silicon Valley Bank (SVB) and the crisis of beleaguered Credit Suisse.
The US Federal Reserve lifted interest rates. Accordingly, Saudi Central Bank (SAMA) also hiked its reverse repo and repo rates by 25 basis points (bps) to 500 bps and 550 bps, respectively.
During the quarter, the Saudi-listed firms announced their annual financial statements for 2022. The reporting season ended on March 31.
Further, the New Companies Law came into force, allowing stock split for companies.
The first wave of supported projects for large companies under the Shareek program at a total value of SAR 192.4 billion.
Oil prices averaged nearly $82 per barrel in the first quarter of 2023.
The following table shows TASI’s quarterly performance since 2010:
|
TASI Quarterly Performance Since 2010 |
|||
|
Year |
Open (points) |
Close (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%) |
|
2023 |
|||
|
Q1 2023 |
10478 |
10590 |
+1.1% |
Monthly performance:
TASI gained in January and March, but closed on a negative note in February.
|
TASI Monthly Performance in 2022 |
|||
|
Month |
Close (points) |
Change (points) |
Change (%) |
|
January |
10793 |
+315 |
+3% |
|
February |
10103 |
+318 |
(6%) |
|
March |
10590 |
+500 |
+5% |
Most of the market sectors ended the three-month period on in the green, led by consumer services with nearly 25%, healthcare as well as software and services (21%).
Materials added 1%, while the insurance sector surged 18%.
On the other hand, banks shed 7%. Diversified financials dropped the most at almost 12%, followed by utilities (4%).
|
Performance by Sector in Q1 2023 |
||||
|
Sector |
2022 |
Q1 2023 |
Change (points) |
Change(%) |
|
Energy |
5427 |
5503 |
+76 |
+1% |
|
Materials |
6290 |
6381 |
+91 |
+1% |
|
Capital Goods |
5226 |
6197 |
+971 |
+19% |
|
Commercial & Professional Services |
3436 |
3907 |
+470 |
+14% |
|
Transportation |
4541 |
5333 |
+791 |
+17% |
|
Consumer Durables |
4225 |
4406 |
+181 |
+4% |
|
Consumer Services |
3690 |
4616 |
+926 |
+25% |
|
Media |
21496 |
23424 |
+1929 |
+9% |
|
Retailing |
7174 |
7813 |
+639 |
+9% |
|
Food Retailing |
8541 |
9897 |
+1356 |
+16% |
|
Food & Beverages |
4640 |
4945 |
+305 |
+7% |
|
Healthcare |
9110 |
10982 |
+1872 |
+21% |
|
Pharmaceuticals |
2873 |
3132 |
+259 |
+9% |
|
Banks |
11542 |
10768 |
(774) |
(7%) |
|
Diversified Financials |
6361 |
5610 |
(751) |
(12%) |
|
Insurance |
5317 |
6272 |
+955 |
+18% |
|
Software and Services |
35888 |
43385 |
+7496 |
+21% |
|
Telecom |
6389 |
7212 |
+823 |
+13% |
|
Utilities |
7174 |
6921 |
(253) |
(4%) |
|
REITs |
3975 |
3843 |
(133) |
(3%) |
|
Real Estate Management |
2500 |
2954 |
+454 |
+18% |
|
Market |
10478 |
10590 |
+112 |
+1% |
Index performance:
TASI hit its highest level in Q1 2023 at 10,858 points on Jan. 29. It also reached its highest close in the same trading session at 10,839 points.
On the other hand, it reached its lowest level of 9,931 on Feb. 28, and its lowest close of 9,977 points on March 16.
The benchmark's highest daily traded value was recorded on March 16 at about SAR 7.66 billion. The highest daily traded volume came on March 29 at 250.9 million shares.
|
TASI performance in Q1 2023 |
|||
|
Period |
Performance |
Date |
Notes |
|
Highest (points) |
10,858 |
Jan. 29 |
-- |
|
Lowest (points) |
9,931 |
Feb. 28 |
-- |
|
Highest close (points) |
10,839 |
Jan. 29 |
-- |
|
Lowest close (points) |
9977 |
Mar. 16 |
-- |
|
Highest traded value (SAR bln) |
7.66 |
Mar. 16 |
FTSE implemented changes of semi-annual index review |
|
Lowest traded value (SAR bln) |
2.25 |
Jan. 1 |
-- |
|
Highest traded shares |
250.9 |
Mar. 29 |
-- |
The Saudi benchmark index headed north in 34 out of 64 trading sessions.
The biggest gain of 1.8%, or 181 points, was recorded on March 19.
|
Sessions of biggest gain in Q1 2023 |
||||
|
Session |
Open (points) |
Close (points) |
Change (points) |
Change (%) |
|
Mar. 19 |
9977 |
10158 |
181 |
1.8% |
|
Mar. 21 |
10218 |
10360 |
142 |
1.4% |
|
Mar. 5 |
10278 |
10411 |
134 |
1.3% |
|
Jan. 12 |
10617 |
10744 |
127 |
1.2% |
|
Feb. 28 |
9995 |
10103 |
108 |
1.1% |
|
Jan. 9 |
10537 |
10647 |
110 |
1.0% |
|
Feb. 13 |
10419 |
10520 |
100 |
1.0% |
|
Mar.23 |
10351 |
10446 |
96 |
0.9% |
|
Mar. 1 |
10103 |
10192 |
90 |
0.9% |
|
Mar. 2 |
10192 |
10278 |
86 |
0.8% |
|
Mar. 30 |
10503 |
10590 |
87 |
0.8% |
|
Jan. 3 |
10578 |
10661 |
83 |
0.8% |
TASI incurred the biggest loss of 1.6%, or 159 points, on March 15.
|
Sessions of biggest loss in Q1 2023 |
||||
|
Session |
Open (points) |
Close (points) |
Change (points) |
Change (%) |
|
Mar. 15 |
10207 |
10049 |
(159) |
(1.6%) |
|
Feb. 5 |
10702 |
10559 |
(143) |
(1.3%) |
|
Jan. 4 |
10661 |
10532 |
(129) |
(1.2%) |
|
Feb. 20 |
10493 |
10371 |
(122) |
(1.2%) |
|
Feb. 23 |
10270 |
10153 |
(116) |
(1.1%) |
|
Feb. 26 |
10153 |
10052 |
(102) |
(1.0%) |
|
Feb. 21 |
10371 |
10270 |
(101) |
(1.0%) |
|
Mar. 14 |
10305 |
10207 |
(98) |
(1.0%) |
|
Feb. 9 |
10508 |
10412 |
(96) |
(0/9%) |
|
Feb. 7 |
10556 |
10470 |
(86) |
(0.8%) |
Trading value:
Total trading value dropped 50% in the three-month period to SAR 269.71 billion, from SAR 542.8 billion a year earlier.
|
Trading Value (SAR bln) |
||||
|
Month |
Q1 2022 |
Q1 2023 |
Daily average |
Change (%) |
|
January |
148.64 |
89.82 |
3.91 |
(40%) |
|
February |
159.51 |
73.81 |
3.88 |
(54%) |
|
March |
234.67 |
106.09 |
4.82 |
(55%) |
|
Total |
542.82 |
269.71 |
4.21 |
(50%) |
The number of transactions fell 15% to 20.12 million in the first quarter.
|
Month |
Q1 2022 |
Q1 2023 |
Change (%) |
|
January |
6.91 |
6.80 |
(2%) |
|
February |
6.78 |
5.81 |
(14%) |
|
March |
9.95 |
7.51 |
(25%) |
|
Total |
23.64 |
20.12 |
(15%) |
Stock performance:
For stock performance, 161 stocks closed Q1 2023 higher, compared to 2022, while 44 stocks ended in the red.
Al Kathiri Holding was the best performer, soaring 91%, followed by Saudi German Health (48%), National Learning (46%).
|
Top 10 Performers |
|||
|
Company |
2022 (SAR) |
Q1 2023 (SAR) |
Change (%) |
|
Al Kathiri |
35.55 |
68.00 |
+91% |
|
SGH |
25.45 |
37.65 |
+48% |
|
National Learning |
68.30 |
100.00 |
+46% |
|
Riyadh Cables |
36.25 |
52.90 |
+46% |
|
Eelectrical Industries |
23.50 |
34.05 |
+45% |
|
Alhokair Group |
17.90 |
24.94 |
+39% |
|
SISCO |
20.30 |
28.15 |
+39% |
|
GACO |
18.80 |
26.00 |
+39% |
|
Dar Al Arkan |
11.62 |
16.02 |
+39% |
|
East Pipes |
37.30 |
51.00 |
+37% |
Saudi Tadawul Group Holding and Arab National Bank (ANB) led losers, diving 20% each. SABIC Agri-Nutrients followed with (13%), Saudi Kayan and Banque Saudi Fransi (11%) each.
|
Top 10 Losers |
|||
|
Company |
2022 (SAR) |
Q1 2023 (SAR) |
Change (%) |
|
Tadawul Group |
181.00 |
144.40 |
(20%) |
|
ANB |
32.05 |
25.80 |
(20%) |
|
SABIC Agri-Nutrients |
146.20 |
127.40 |
(13%) |
|
Saudi Kayan |
13.66 |
12.10 |
(11%) |
|
BSF |
40.60 |
36.20 |
(11%) |
|
Bank Albilad |
44.45 |
39.80 |
(10%) |
|
Alinma Bank |
32.55 |
29.45 |
(10%) |
|
SABB |
38.95 |
35.25 |
(9%) |
|
SNB |
50.50 |
45.85 |
(9%) |
|
Al Sagr Insurance |
14.04 |
12.78 |
(9%) |
*Price changes were taken into account due to capital changes
Performance of REITs:
Real estate investment trusts (REITs) showed mixed performance in Q1 2023. Five REITs went up, led by Al Maather REIT Fund and MEFIC REIT Fund with 3% each.
As many as 13 REITs went down, dragged by Alkhabeer REIT Fund and Musharaka REIT fund with 13% each.
|
Performance of REITs in Q1 2023 |
|||
|
REIT |
2022 (SAR) |
Q1 2023 (SAR) |
Change |
|
Al Maather REIT |
8.36 |
8.60 |
+3% |
|
MEFIC REIT |
4.77 |
4.90 |
+3% |
|
Jadwa REIT Al Haramain |
6.86 |
7.03 |
+2% |
|
Bonyan REIT |
9.16 |
9.21 |
+1% |
|
Jadwa REIT Saudi |
12.90 |
12.94 |
+0/3% |
|
Alinma Retail REIT |
4.90 |
4.88 |
(0.4%) |
|
SeDCO Capital REIT |
10.32 |
10.26 |
(1%) |
|
Al Rajhi REIT |
9.79 |
9.67 |
(1%) |
|
Derayah Saudi |
10.12 |
9.90 |
(2%) |
|
SICO Saudi REIT |
5.59 |
5.45 |
(3%) |
|
Mulkia REIT |
7.75 |
7.35 |
(5%) |
|
AlAhli REIT 1 |
10.10 |
9.52 |
(6%) |
|
Alinma Hospitality REIT |
*9.59 |
9.02 |
(6%) |
|
Riyad REIT |
9.88 |
9.20 |
(7%) |
|
Taleem REIT |
11.80 |
10.88 |
(8%) |
|
AlJazira REIT |
17.84 |
16.10 |
(10%) |
|
Alkhabeer REIT |
7.60 |
6.64 |
(13%) |
|
Musharaka REIT |
8.85 |
7.73 |
(13%) |
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