Saudi stock market down 28% in H1

Saudi Arabia’s Tadawul stock market was down 28.47 per cent in the first half of the year compared to the same period in 2015, following oil prices volatility and global growth concerns.

The all-share index closed at 6,499.88 points in the first half of the year, a 2,587.01 point reduction from the previous year, according to the Tadawul Statistical Report.

The market was also down 411.88 points, or 5.96 per cent, on a year to date basis.

Total equity market capitalisation at the end of the first half reached SAR 1.50 trillion ($401.16bn), down 25.29 per cent over H1 2015, while the total value of shares traded was down 34.07 per cent to SAR 688.19bn ($183.52bn).

However, the total number of shares traded remained similar at 38.74 billion from 39.03 billion the previous year, a 0.74 per cent reduction.

Total buying and selling activity continued to be dominated by Saudi investors, at 95.52 per cent and 96.08 per cent respectively, despite recent efforts to attract foreign institutional investors.

Read: Saudi plans stock market reforms to draw foreign money

Saudis owned 93.24 per cent of the market cap on June 30, compared to 2.56 per cent from GCC investors and 4.21 per cent from foreign investors.

The highest close for the index in the first half was 6,952.22 point as on January 3. It is down 411.88 points, or 5.96 per cent, since the start of the year.