Al Rajhi Bank tops MSCI Tadawul 30 Index heavyweights

The Saudi Stock Exchange (Tadawul) disclosed the top ten companies on the MSCI Tadawul 30 Index (MT30) by the end of September 2019. The ten companies account for 72.26% of the index, compared to 74.16% last May.

Al Rajhi Bank was the largest weighted stock on the index with 15.02%, compared to 15% by the end of May.

Major petrochemical producer SABIC moved down to the second place with a 13.37% weight, compared to 15.07% in May.

National Commercial Bank (NCB) came third with 10.71%.

Sector wise, the financial sector is the heaviest on MT30 with a 48.55% weight, followed by basic materials (28.46%).

The MT30 Index was jointly launched by MSCI and Tadawul last February. 

The Index targets the top 30 securities, listed on the Saudi Main Equity Market, based on market capitalization with weight capping criteria, and is designed to serve as the basis for financial products including derivatives and ETPs.