Saudi equity market cap falls to SR1.50 trillion in first half

Updated 05 July 2016
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Saudi equity market cap falls to SR1.50 trillion in first half

JEDDAH: The Saudi stock market fell in the first half of this year.

According to Tadawul Statistical Report, at the end of the first half of 2016, the Tadawul All-Share Index (TASI) closed at 6,499.88 points, down 2,587.01 points or 28.47 percent over the close of the same period of the previous year.
On an YTD basis TASI registered a negative decrease of 5.96 percent (411.88 points).
The report said highest close level for the index during the period was 6,952.22 point as on Jan. 3, 2016.
Total equity market capitalization at the end of the first half 2016 reached SR1.50 trillion ($401.16 billion), declined by 25.29 percent over the end of the 1st half of the previous year.
The total value of shares traded for the 1st half 2016 reached SR688.19 billion ($183.52 billion), dropped by 34.07 percent over the same period of the previous year.
The total number of traded shares reached 38.74 billion during the 1st half compared to 39.03 billion shares traded during the 1st half of the previous year, decreased by 0.74 percent.
The Tadawul report said total number of transactions executed during the 1st half 2016 reached 16.04 million compared to 17.85 million trades during the 1st half of the previous year, decreased by (10.14 percent.
Meanwhile, the total value of shares traded for the week ending June 30, 2016 amounted to SR21.71 billion, increasing by 40.60 percent over the previous week; while total stock market capitalization reached SR1.504 trillion at the end of this period, decreasing by 0.59 percent over the previous week.
The total value of shares purchased by Saudi investors during this period amounted to SR20.74 billion representing 95.52 percent of total buying activity, and sales of SR20.86 billion representing 96.08 percent of total selling activity. Total ownership of Saudi investors” stood at 93.24 percent of total market capitalization as of June 30, 2016, representing an increase of 0.01 percent from the previous week.
The total value of shares purchased by GCC investors during this period amounted to SR0.306 billion, representing 1.41 percent of total buying activity, and sales of SR0.260 billion, representing 1.20 percent of total selling activity. Total ownership of GCC investors stood at 2.56 percent of total market capitalization as of June 30, 2016, representing an increase of 0.0003 percent from the previous week.
The total value of shares purchased by foreign investors during this period amounted to SR0.666 billion representing 3.07 percent of total buying activity, and sales of SR0.592 billion representing 2.73 percent of total selling activity. Total ownership of foreign investors stood at 4.21 percent of total market capitalization as of June 30, 2016, representing a decrease of 0.01 percent from the previous week.


Iraq has enough oil capacity to meet customer needs: oil minister

Updated 20 min 12 sec ago
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Iraq has enough oil capacity to meet customer needs: oil minister

  • Thamer Ghadhban also says there are no acute oil shortages for the time being
  • but Iraq would continue to monitor the market to assess the need for additional supply

BAGHDAD: Iraq’s oil minister said on Thursday his country had the capacity to increase its oil production to 6 million barrels per day (bpd) if needed, but it was committed to OPEC-led output cuts and would not take unilateral action to boost supply.
Thamer Ghadhban also said there were no acute oil shortages for the time being, but Iraq would continue to monitor the market to assess the need for additional barrels at the next OPEC meeting.
On Monday, the United States decided not to renew exemptions from sanctions against Iran granted last year to buyers of Iranian oil, taking a tougher line than expected and triggering a rally in oil prices on fears of oil supply shortages.