SABIC largest heavyweight on MT30 in June, Al Rajhi ranks 2nd

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

The 10 companies accounted for 70.63% of the index weight, compared to 68.29% by the end of March 2020.

The major petrochemical producer SABIC topped the list of the largest weighted stocks on the index with 14.02%, compared to 11.46% in March 2020.

Al Rajhi Bank moved back one notch to the second place with a 12.26% weight, compared to 14.39% last March.

Meanwhile, National Commercial Bank (NCB) ranked 4th with 9.69%.

The giant oil producer Saudi Aramco slipped one notch to the fifth place with a 6.90% weight, compared to 7.90 % in Q1 2020.

Fertilizer producer SAFCO joined the list with a 2.69 % weight, while Alinma Bank exited the list.

Sector wise, the financial sector was the heaviest on MT30 with a 44.06 % weight, followed by materials (26.74 %).

MSCI TADAWUL 30 INDEX (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 will launch the derivatives market on Aug. 30, 2020. The MT30 Index futures will be traded as the first derivatives product in the market.

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