JEDDAH: The Saudi stock market continued its downward march in the first quarter of 2009 after plunging over 55 percent last year.
According to the Tadawul statistical report for the first quarter released yesterday, the Tadawul All-Share Index (TASI) closed at 4,703.75 points, down 4,288.78 points or 47.69 percent at the end of the first quarter compared to the same period of the previous year. The index closed at 4,802.99 points at the end of 2008. The index closed yesterday at 4,717.38 points.
On an YTD basis TASI lost 85.61 points or 1.78 percent. Highest close level for the index during the period was 5,322.22 points as on Jan. 7. Total equity market capitalization at the end of the first quarter reached SR884.19 billion ($235.79 billion), decreasing by 47.20 percent over the same period of the previous year.
The total value of shares traded for the first quarter dropped by 56.80 percent to SR304.69 billion ($81.25 billion).
The total number of shares traded fell by 8.57 percent to 16.60 billion for the 1st quarter of this year compared to 18.16 billion shares traded during the same period in 2008.
The total number of transactions executed during the first quarter this year dropped by 36.32 percent to 10.04 million compared to 15.76 million trades during the first quarter of 2008.
There was only one new listing during the first quarter. Etihad Atheeb Telecommunication Co. was listed on March 21 with a paid up capital of SR1 billion divided into 100 million shares. The company offered 30 million shares at SR10 per share.
In the corporate actions, the Tadawul report said, The Saudi British Bank (SABB) increased its paid up capital by issuing one bonus share for every four shares, raising its total number of issued shares to 750 million.
The Saudi Hollandi Bank increased its paid up capital by issuing one bonus share for every four shares, raising its total number of issued shares to 330.75 million. Al-Babtain Power & Telecommunication Co. increased its paid up capital by issuing one bonus share for every two shares, raising its total number of issued shares to 40.5 million. The number of brokerage firms active in the market reached 35 at the end of first quarter.
The Tadawul report said total value of traded shares in the Saudi stock market in March was SR87.41 billion, down 14.44 percent, compared to SR102.16 billion in February.
The percentage share of Saudi nationals from the market trades was 92.4 percent for selling (SR80.77 billion) and 90 percent for buying (SR78.67 billion). The percentage share of Saudi companies from the market trades was 2.2 percent for selling (SR1.95 billion) and 3.7 percent for buying (SR3.27 billion). The percentage share of investment funds from the market trades was 1.8 percent for selling (SR1.56 billion) and 2.4 percent for buying (SR2.06 billion).
According to the Tadawul report, the percentage share of GCC (Gulf Cooperation Council) nationals from the market trades was 1.2 percent for selling (SR1.02 billion) and 1.5 percent for buying (SR1.29 billion).
The percentage share of Arab residents in Saudi Arabia from the market trades was 1.9 percent for selling (1.65 billion) and 1.8 percent for buying (SR1.60 billion). The percentage share of foreign residents in Saudi Arabia from the market trades was 0.2 percent for selling (SR191.76 million) and 0.2 percent for buying (SR167.80 million). The percentage share of foreigners via swap agreement from the market trades was 0.3 percent for selling (SR262.29 million) and 0.4 percent for buying SR356.62 million.
