Tadawul Quarterly Capital Markets Performance Report
Q4 2020
Despite pervasive uncertainty within the global capital markets, in Q4 Tadawul once again oversaw robust trading and strong international investor demand for shares in Saudi-listed companies. Average daily traded value on the Tadawul All Shares Index came to a record SAR 11.1 million for the period, while value traded also reached an all-time quarterly high of 733.4 billion.
Q4 was also the first full quarter since the landmark launch of the Tadawul Derivatives Market.
Demand for index futures contracts was strong, marking a successful opening period for derivatives
trading on Tadawul.
Tadawul continued to introduce enhancements designed to advance the efficiency and effectiveness of
the Saudi capital market in the quarter. The launch of the Repo Collateral Transfer service and the
updates to the Negotiated Deals and the Fluctuation Limits mechanism have strengthened the
exchange’s market infrastructure, while the Saudi Capital Market Awards will both promote and
recognise the leadership displayed by listed companies.
2020 has been a challenging time for markets the world over. However, Tadawul and its partners have
shown resilience and adaptability – continuing to provide a bespoke service while also delivering
key market improvements throughout the year that are further developing the Saudi market and
cementing its status as one of the premier destinations for global capital.
Q4 Market Trends
Key Highlights
11.1 million SAR
The average daily traded value on Tadawul in Q4 2020, a 217% increase on the year prior.
202% Y-o-Y growth in average daily volume traded
Q4 was a very active quarter with record average daily trading volumes. The Tadawul All Share Index closed the period up 4.7%.
159 billion SAR - value of QFI’s holdings
QFIs now hold 1.8% of shares issued on the Main Market as Tadawul steadily becomes a more globalized exchange.
17.7 million SAR - Value of futures contracts traded in Q4
In its first full quarter of trading since launch, Tadawul’s derivatives market saw strong investor demand as 156 futures contracts were traded.
Equities
The Tadawul All Share Index grew strongly in Q4, closing the period up 4.7% amid record quarterly trading by both value and volume.
| Main Market – Q4 Overview | |
|
9.10 trillion Market capitalization (SAR) |
733.34 billion (38.56%) ↑ Traded value (SAR) |
|
203 Constituents |
8,689.53 (4.70%) ↑ Tadawul All Share Index (TASI) closing |
| Nomu – Parallel Market – Q4 Overview | |
|
12.18 billion Market capitalization (SAR) |
2.76 billion (72.76%) ↑ Traded value (SAR) |
|
4 Constituents |
26,245.46 (85.96%) ↑ Parallel Market Capped Index (NomuC) closing |
TASI average daily traded value & velocity
TASI Price Performance and Volumes
| Top gainers | ||
| Company | % change Q-o-Q | |
| SPM | 131.29% | |
| AAAM Holdings | 100.52% | |
| ABO MOATI | 74.84% | |
| NASEEJ | 72.84% | |
| WAFRAH | 72.07% | |
| Top losers | ||
| Company | % change Q-o-Q | |
| JABAL OMAR | -20.27% | |
| MEFIC REIT | -18.71% | |
| WATANIYA | -18.29% | |
| SWICORP WABEL REIT | -17.11% | |
| JADWA REIT ALHARAMAIN | -17.00% | |
| Best performing sectors | ||
| Sector | % change Q-o-Q | |
| Consumer Durables and Apparel | +20.0% | |
| Software and Services | +18.0% | |
| Capital Goods | +15.0% | |
| Materials | +12.0% | |
| Diversified Financials | +11.0% | |
| Underperforming sectors | ||
| Sector | % change Q-o-Q | |
| Food and Staples Retailing | -20% | |
| Real Estate Mgmt and Dev’t | -18% | |
| Food & Beverages | -12% | |
| Energy | -10% | |
| Commercial & Professional SVC | -9% | |
Share of volume traded by industry group in Q4
| Most active members on the main market Q4 2020 | |||||
| Value Rank | Member Name | Value | Value(%) | Volume | Volume(%) |
| 1 | Al Rajhi Capital | 100,375,708,101.30 | 19.81% | 3,306,661,641 | 19.73% |
| 2 | NCB Capital | 70,680,042,434.03 | 13.95% | 2,288,372,889 | 13.65% |
| 3 | Derayah Financial | 57,268,468,431.12 | 11.30% | 1,800,917,857 | 10.75% |
| 4 | AlJazira Capital | 45,915,744,026.73 | 9.06% | 1,594,948,425 | 9.52% |
| 5 | Samba Capital | 40,170,185,142.11 | 7.93% | 1,317,055,557 | 7.86% |
| 6 | Riyad Capital | 31,208,763,209.58 | 6.16% | 1,027,726,136 | 6.13% |
| 7 | Saudi Fransi Capital | 26,361,145,064.38 | 5.20% | 915,626,952 | 5.46% |
| 8 | HSBC Saudi Arabia | 19,883,816,307.58 | 3.92% | 739,668,171 | 4.41% |
| 9 | Falcom Investment Company | 17,345,717,877.39 | 3.42% | 477,351,187 | 2.85% |
| 10 | Alinma Investment Company | 15,749,717,718.92 | 3.11% | 481,647,523 | 2.87% |
Sukuk & bonds
Tadawulʼs debt market continues to grow, over SAR 7.8 billion worth of sukuk and bonds were traded in Q4 as the total number of trades increased by 13% on the prior quarter.
| Sukuk / Bonds – Q4 Overview | ||
|
387.84 billion Total size of issuance (SAR) |
1022.68 (0.09%) ↓ Sukuk / Bonds Market Index closing |
72 Listed |
| Q4 2020 | % change Quarter-on-Quarter | % change Year-on-Year | |
|---|---|---|---|
| Number of Trades | 512 | 13.02% | 814.29% |
| Value Traded (SAR) | 7,824,685,961.29 | -39.21% | 383.86% |
| Nominal Value Traded (SAR) | 7,503,813,000.00 | -37.91% | 414.16% |
| Total Size of Issuances (SAR) | 387,840,399,020 | -1.42% | 12.06% |
| Index Close | 1,022.68 | -0.09% | 1.53% |
| Most active members in sukuk & bonds Q4 2020 | |||||
| Value Rank | Member Name | Value | Value(%) | Volume | Volume(%) |
| 1 | Samba Capital | 4,620,924,497.57 | 29.53% | 4,414,337,000 | 29.41% |
| 2 | NCB Capital | 3,042,733,116.48 | 19.44% | 2,898,717,000 | 19.31% |
| 3 | Riyad Capital | 2,552,429,562.16 | 16.31% | 2,441,131,000 | 16.27% |
| 4 | Al Rajhi Capital | 1,840,802,888.00 | 11.76% | 1,758,700,000 | 11.72% |
| 5 | EFG_Hermes KSA | 1,525,155,000.00 | 9.75% | 1,500,000,000 | 9.99% |
| 6 | Al Bilad Investment Company | 556,065,000.00 | 3.55% | 548,960,000 | 3.66% |
| 7 | AlIstithmar Capital | 472,749,500.00 | 3.02% | 449,000,000 | 2.99% |
| 8 | Alinma Investment Company | 376,693,724.33 | 2.41% | 361,889,000 | 2.41% |
| 9 | Saudi Fransi Capital | 287,035,200.00 | 1.83% | 279,000,000 | 1.86% |
| 10 | HSBC Saudi Arabia | 250,261,975.05 | 1.60% | 239,827,000 | 1.60% |
Derivatives
The number of SF Futures 30 contracts traded in Q4 stood at 156. Month end futures increased in price by 6.4% over the period, reflecting positive investor expectations for the index’s future.
| Derivatives – Q4 Overview | |
|
17.67 million Value traded |
156 Contracts traded |
MT30 Index Futures - Month-end
Ownership
Ownership of firms listed on the exchange is becoming increasingly institutional and international in nature - Saudi institutions increased their total holding of the market from 8.4% in Q3 to 9.3% in Q4.
| Foreign investor ownership* – Q4 Overview | |
|
Main Market 208.34 billion (5.98%) ↑ Holding value (SAR) |
Nomu – Parallel Market 6.78 million (7.04%) ↑ Holding value (SAR) |
*Includes SWAP Holders, Foreign Residents & Others, QFIs, Foreign DPMs and Foreign Strategic Investors