Saudi Arabia's Tadawul All Share Index (TASI) registered the best monthly performance in the GCC in April, according to KAMCO Research.
The benchmark index was up 5.2 percent last month led by gains in large-cap stocks resulting in 18.5 percent gains since the start of the year, the highest in the GCC.
Trading activity improved month-on-month during, as total value of shares traded rose 13.8 percent to reach SAR 70.2 billion as compared SAR 61.7 billion in March. However, monthly volumes declined during the month by 1.3 percent to reach 2.7 billion shares indicating higher trades in large-cap stocks eyeing MSCI’s decision to add Saudi stocks to its Emerging Markets index starting the end of May.
Al Rajhi Bank topped the monthly value traded chart with shares worth SAR 9.9 billion changing hands during the month. SABIC was next on the list with SAR 7.6 billion in trades followed by Alinma Bank and Saudi Kayan at SAR 5.2 billion and SAR 2.4 billion, respectively.
On the monthly volume chart, Alinma Bank topped with 197 million shares traded during the month followed by Saudi Kayan and Dar Al Arkan Real Estate at 174 million shares and 152 million shares, respectively, the consultancy said.
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