Arab Today, arab today value of saudi traded shares reaches sr110 trillion
Last Updated : GMT 09:11:28
Arab Today, arab today
Arab Today, arab today

Value of Saudi traded shares reaches SR1.10 trillion

Arab Today, arab today

Arab Today, arab today Value of Saudi traded shares reaches SR1.10 trillion

Jeddah - Arabstoday

Worries about global markets, euro zone debt crisis and geopolitical issues in the Gulf region kept investors subdued last year and prevented the Saudi stock market from making sharp gains, according to Kingdom-based analysts. Their remarks came as fresh data, issued Monday, revealed that the Tadawul All-Share Index (TASI) dropped slightly last year from the levels of 2010. According to Tadawul\'s Annual Statistical Report, the index closed 203.02 points or 3.07 percent down at 6,417.73 points at the end of 2011 compared to 6,620.75 points in 2010. The analysts, highlighting the Capital Market Authority’s (CMA) keenness to develop the Kingdom’s equity markets, said its plan to allow direct foreign ownership to investors is expected to make a limited expansion of the bourse this year. The highest closing level for the index was 6,788.42 points as on Jan. 16, according to the report. Ragheb Othmani, senior officer, asset management at the Riyadh-based Bakheet Investment Group, said Tadawul’s performance in 2011 was relatively good as compared to other GCC markets with the exception of Qatar. He said the Saudi stock market did not rise sharply in 2011 because of some worries over international markets and the economic situation around the world. \"The Gulf region is in tension and geopolitical issues have shaken the confidence of some investors,\" Othmani added, commenting on the market statistics. Some of the Tadawul-listed companies have branches in those affected countries in the region and this is having some negative impact on the performance of these companies, he pointed out. The total market capitalization in 2011 dropped by 4.12 percent to SR1.27 trillion ($338.89 billion). The total value of shares traded reached SR1.10 trillion ($293.02 billion) compared to SR759.18 billion ($202.45 billion) for the previous year, increasing by 44.74 percent. The Tadawul report said total number of transactions executed during the year 2011 reached 25.55 million compared to 19.54 million trades for the previous year, increasing by 30.77 percent. The total number of shares traded up by 45.61 percent to reach 48.54 billion compared to 33.33 billion shares traded during the previous year. The performance of Tadawul during 2011 is somewhat paradoxical in view of the record-breaking performance of the economy as a whole. Jarmo T. Kotilaine, chief economist at the National Commercial Bank, pointed out that the Saudi bourse rallied from its lows and the final decline for the year was relatively modest. He said the numbers on the volume of trading are even more encouraging. \"In spite of considerable volatility in the course of the year, we ended up with a marked improvement on last year. This is obviously positive news not only for the exchange but also the broader non-banking financial sector,\" he told Arab News. Overall, he said the exchange is beginning to look fairly well positioned for the much anticipated relaxation in foreign ownership rules. \"In sectoral terms, the strong performance of petrochemicals is not surprising in view of its weight and the robust oil price. The insurance sector continues to be characterized by somewhat unique dynamics, partly in reflection of its fragmentation and the potential for consolidation this creates,\" Kotilaine said. The Tadawul report said that daily average number of transactions in 2011 reached 103.01 thousand trades compared to 78.46 thousand trades during the previous year, increasing by 31.29 percent. The daily average value of traded shares jumped by 45.32 percent to SR4.43 billion in 2011 compared to SR3.05 billion in 2010. The daily average number of traded shares reached 195.71 million compared to 133.87 million shares during the previous year, increasing by 46.19 percent, the Tadawul report said.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today value of saudi traded shares reaches sr110 trillion Arab Today, arab today value of saudi traded shares reaches sr110 trillion

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today Former head of Egypt’s syndicate submits appeal

GMT 20:11 2017 Saturday ,25 March

Former head of Egypt’s syndicate submits appeal
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Actress Mervat Amin reveals her role in new series
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 15:06 2017 Saturday ,25 March

Dialysis Supplies Dwindle for Syrians

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday