Average daily value traded on Tadawul rises 8% YTD

The average daily value traded on the Saudi Stock Exchange (Tadawul) has risen by 8 percent at $949.53 million on a year-to-date (Jan-Sep 30, 2018) basis, compared to $882.23 million in the same period last year, EmiratesNBD noted in the report on Wednesday.

On a monthly basis, however, the value traded on the Tadawul dropped 18 percent in September.

“The Tadawul saw outflows for a fourth consecutive month with foreign investors selling stocks worth SAR 617 million in September 2018. However, on an aggregate basis, the Saudi Arabian equity markets has seen foreign inflows of SAR 9.6 billion in first nine months of 2018, compared to SAR 3.17 billion outflows in the same period last year,” Aditya Pugalia, Director, Financial Markets Research, EmiratesNBD, told Argaam.

He said the foreign ownership of stocks has dropped marginally but remains above 5 percent at the end of September 2018.