Tadawul showed a notable decline in market activity last quarter, reflecting a broader slowdown in trading. Key metrics like trading value and transaction volume saw significant drops compared to the previous year. We take a closer look below at the data from the latest quarterly report.

Tadawul saw a broad slowdown in activity last quarter, with the total value of shares traded dropping 37% y-o-y to SAR 362.6 bn in 1Q 2025, according to Tadawul’s quarterly statistical report (pdf). The number of transactions slid 19.1% y-o-y to 28.3 mn, while traded volumes fell 27.6% to 17.1 bn shares over the same period, with the bulk of trading activity concentrated in January. As of the end of March, some 253 companies were listed and trading on the main market.

Tadawul’s benchmark index TASI closed the quarter at 12k points, down 3% y-o-y, after reaching a quarterly high of 12.5k points in the first half of February. Equity Market capitalization fell 9.3% y-o-y to SAR 9.92 tn over the same period.

The real estate management & development index logged the highest YTD sectoral gain through to March, climbing 14.9% as investor appetite held firm for property-linked plays. The telecom services index followed with a 12.6% YTD rise, while banks gained 7.7%, buoyed by stable credit conditions and strong earnings.

Tadawul’s large cap index was the only capitalization-weighted benchmark to post gains last quarter, edging up 0.5% YTD as investors leaned into highly liquid stocks amid broader sectoral weakness. The medium cap index fell nearly 0.07.% YTD in March, while the small cap index saw the steepest YTD decline, falling 3.78% last month. Tadawul’s IPO index fell 4.88% YTD last month, while the TASI50 index — which serves as a benchmark for ETFs— was down 0.13% YTD.

Top movers: Al Rajhi Bank topped the market by value traded last quarter with SAR 23.71 bn worth of shares changing hands — representing 6.54% of total market turnover. Aramco followed with SAR 16.53 bn (4.56%), trailed by SNB, Nice One, and Alinma.

ICYMI- Five companies rang the bell on Tadawul last quarter, namely e-brokerage firm Derayah Financial and poultry producer Arabian Company for Agriculture & Industrial Investments Entaj Foods in February, real estate developer Umm Al Qura for Development and Construction last month, and Almoosa Health and Nice One Beauty in January. Meanwhile, Raoom Trading left Nomu for the main market.

MEANWHILE ON NOMU-

Capped index NomuC rose 19.43% y-o-y to close 1Q at 31.1k points. The index hit a quarterly high of 31.7k points in February, supported by sustained investor appetite for growth-oriented listings. Market capitalization on Nomu rose 16.2% to roughly SAR 59.1 bn. Meanwhile, trading value declined 18.89% y-o-y to SAR 2.7 bn. Trade volumes climbed 9.2% to nearly 260 mn shares, while transaction count jumped 54.68% to 292.1k.

The last quarter saw the listing of eight companies, namely Shmoh Almadi, ItmamConsultancy, Alshehli Company for Metal Industries, Basma Adeem Medical, Hedab AlKhaleej, Ratio Specialty, and Twareat Medical Care (TMC) via direct listing.

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