Tadawul soared in first quarter, with turnover and TASI both up

The Tadawul All Share Index (TASI) closed 1Q 2024 up 17.1% y-o-y at 12.4k points, according to a statistical report (pdf) from the stock exchange. Turnover soared 113.5% to y-o-y in the first quarter of the year to c. SAR 576 bn (c. USD 153.6 bn), while total executed transactions rose 74% y-o-y to c. 35 mn.

SAL Saudi Logistics topped the main market’s five most-actively traded stocks measured by the volume of shares traded, followed by Aramco, Ades Holding, Al Rajhi, and MBC Group. Aramco led the list by the value of shares traded at SAR 28.8 bn, followed by Al Rajhi, SAL, SNB and Ades.

Newcomers to the TASI in the quarter:

• MBC Group, which listed in January after a blockbuster IPO ;
• Avalon Pharma, which listed in February after a SAR 492 mn IPO ;
• Modern Mills, which listed in March after an IPO that saw it sell a 30% stake;
• Saudi Cable, which saw its two-year Tadawul suspension lifted.

And a new index: Tadawul launched TASI50 Index, which tracks the 50 largest companies by market cap listed on the exchange.

A look at Nomu during 1Q: Parallel market Nomu Capped Index (NomuC) was up 30.9% y-o-y during the first quarter to close at 26k points. Turnover rose 86.1% y-o-y during the period to SAR 3.3 bn, while the total number of executed transactions jumped 52.7% y-o-y to 188.9k.

The first quarter of the year was a busy one for Nomu listings, with six companies offering shares for the parallel market. They include:

• Pan Gulf Marketing, which listed in February after taking a 12% stake to the market in February;
• WSM Information Tech, which listed in February after selling a 20% stake;
• Al Modawat Specialized Medical, which listed in February after selling a 20% stake;
• Quara Finance, which listed in March after offering a 8.8% stake;
• Al Mohafaza Education, which listed in March after it floated a 20% stake;
• Taqat Mineral Trading, which listed in March after offering a 20% stake.