Local investors were net sellers on Tadawul’s main market in February with net sold positions worth SAR 1.6 bn, according to the Tadawul monthly ownership and trading activity report (pdf). GCC investors were also net sellers with net sold positions worth SAR 405 mn, while foreign investors were net buyers with net acquired positions worth SAR 2 bn.

Ownership structure: The total holding of local investors in listed companies on the main market Tadawul rose 4.7% m-o-m to SAR 10.7 tn in February. GCC investors’ holdings increased 4.7% m-o-m to SAR 71.5 bn in February, while that of foreign investors grew 7.7% m-o-m to SAR 426 bn in the same month.

PARALLEL MARKET NOMU-

Nomu trading values in February 2024: Local investors were net buyers on Nomu in February with net acquired positions worth SAR 6.8 mn, according to the latest data from Tadawul (pdf). GCC investors were also net buyers with net acquired positions worth SAR 784 mn, while foreign investors were net sellers with net sold positions worth SAR 7.6 mn.

Ownership structure: The total holding of local investors in listed companies on Nomu rose 4.7% m-o-m to SAR 50 bn in February. GCC investors’ holdings increased 7% m-o-m to SAR 260 mn in February, while that of foreign investors grew 15% m-o-m to SAR 734 mn in the same month.

SUKUK / BONDS MARKET-

Local investors were net sellers in the local sukuk market with net sold positions worth SAR 274 mn in February, while GCC investors were net sellers with net sold positions worth SAR 6k, and foreign investors were net buyers with net acquired positions worth SAR 274 mn.

The total holding of local investors in the local sukuk market inched up 1.4% m-o-m to SAR 7.6 bn in February, while that of GCC investors inched up 0.4% to SAR 1.2 bn, and that of foreign investors increased 7% to SAR 4.6 bn in the same month.

MARKETS THIS MORNING-

In Asia, it’s red as far as the eye can see, with Chinese, Korean, and Japanese benchmarks edging lower this morning as China’s big annual political get-together kicked off this morning. Traders are looking for clarity on the Communist Party’s economic policy for the year. Officials are now guiding for GDP growth of “around 5%” for this year, a bit below the 5.2% it advanced in 2023.

Futures point to a soft open for stocks in Europe, on Wall Street, and on Bay Street later today.

TASI

12,434.59

-1% (YTD: +3.9%)

MSCI Tadawul 30

1,592.03

-1.1% (YTD: +2.7%)

USD : SAR (SAMA)

3.75 Sell

3.75 Buy

Interest rates

6% repo

5.5% reverse repo

EGX30

30,542.33

+5.1% (YTD: +22.7%)

ADX

9,285.59

+0.1% (YTD: -3.1%)

DFM

4,326.62

-0.7% (YTD: +6.6%)

S&P 500

5,130.95

-0.1% (YTD: +7.6%)

FTSE 100

7,640.33

-0.6% (YTD: -1.2%)

Euro Stoxx 50

4,912.92

+0.4% (YTD: +8.7%)

Brent crude

USD 82.81

-0.9%

Natural gas (Nymex)

USD 1.94

+5.5%

Gold

USD 2,124.70

+1.4%

BTC

USD 67,170.61

+7.1% (YTD: +199.5%)

THE CLOSING BELL-

The TASI fell 1% yesterday on turnover of SAR 10.5 bn. The index is up 3.9% YTD.

In the green: Al Baha(+7.1%), SSP (+5.7%) and Acwa Power (+5.4%).

In the red: Seera (-9.9%), Al Khaleej Training (-9.9%) and Ayyan (-7.6%).

CORPORATE ACTIONS-

Nomu-listed Atlas Elevators’ general assembly has agreed to a buyback of up to 300k treasury shares, the company said in disclosure to Tadawul yesterday. It attributed the move to a current share stock price lower than the fair value. The buyback, which will be self-financed, would be implemented within a maximum period of 12 months.

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