SABIC largest heavyweight on MT30 in December 2020; Al Rajhi & Aramco rank 2nd & 3rd

The Saudi Stock Exchange (Tadawul) disclosed the top 10 companies on the MSCI Tadawul 30 Index (MT30) by the end of December 2020.

The 10 companies accounted for 70.75% of the index weight, compared to 70.73% by the end of September 2020.

Major petrochemical producer, Saudi Basic Industries Corp. (SABIC), topped the list of the largest weighted stocks on the index with 12.92%, compared to 12.22% in September 2020.

Al Rajhi Bank moved back one notch to the second place with a 12.77% weight, compared to 12.36% last September.

Oil giant Saudi Aramco came in the third place with a 10.90% weight.

Saudi Electricity Co. (SEC) joined the list with a 2.76% weight, while fertilizer producer SABIC Agri-Nutrients exited the list.

Sector wise, the financial sector was the heaviest on MT30 with a 42.65% weight, followed by materials (25.06%).

MT30 was developed by the Saudi Stock Exchange (Tadawul) and MSCI Inc., a Global Leading provider of Indices Services, as a joint tradable index that can be used as a base for financial products including derivatives and ETFs.

MT30 Index represents the performance of approximately the 30 largest and most liquid securities listed in the Saudi equity market.

Tadawul launched the derivatives market on Aug. 30, 2020. The MT30 Index futures are traded as the first derivatives product in the market.

For More Reports