Saudi Stock Market Value Settles at USD 482.6bn

Saudi Stock Market Value Settles at USD 482.6bn

Saturday, 8 September, 2018 - 13:15
A trader uses his mobile as he monitors screens displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh June 15, 2015. REUTERS/Faisal Al Nasser/File Photo Reuters
Riyadh- Shujaa al-Bogmi
The market value of Saudi shares settled at SAR1.81 trillion (USD482.6 billion), with the local market preparing to list and trade shares of Leejam Sports Company starting Monday.

Market attractiveness has been reinforced by profit gaining operations witnessed by the Saudi stock market in the past days.

In this context, Tadawul announced that starting Monday (Sep. 10) Leejam Sports Company will be listed and traded – daily fluctuation rate of the share price would be 10 percent.

Saudi stock exchange concluded last week’s trading, dropping around 3.3 percent i.e. 260 points, closing at 7,688 points compared to the previous week closure at 7,948 points.

The Saudi shares market managed to retain a huge part of its gains achieved in 2018, in which the Saudi shares market index is accomplishing a positive performance of 6.5 percent during the current year.

Saudi shares index closed at 7687.76 points with a trading value of more than SAR3.7 billion (USD1 billion approximately). The total number of traded shares on Thursday exceeded 159 million shares distributed over 124,000 deals.

These developments coincide with the issuance of the 54th SAMA Annual Report that has proven the stability of the financial sector in Saudi Arabia, marking a 6.3 percent growth in the local banks' capitals and reserves in 2017.

SAMA Report reviewed the monetary and banking developments in the kingdom during 2017 in addition to the latest updates regarding the foreign sector and the oil and non-oil sectors, not to mention funding and insurance activities.

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