Total market value of Saudi stocks surges to SR11 trillion
The collective market value of the primary Saudi stock market, the All Tadawul Share Index (TASI), has reached an impressive SR11 trillion. This valuation encompasses the shares of 231 actively traded listed companies and funds.
Notably, the market value of free float shares stands at approximately SR2.76 trillion, constituting 25.02 percent of the overall company shares, as per a comprehensive analysis conducted by Okaz/Saudi Gazette.
In terms of share composition, the total number of shares for companies listed on the main stock market totals 336.56 billion, with free shares accounting for 81.32 billion. The percentage of free shares, reflecting shares whose owners are unidentified, comprises about 24.16 percent of the total listed shares. This data underscores the diverse and dynamic nature of the Saudi stock market.
Distinguishing between share categories, non-free shares incorporate government agencies holding five percent or more in a listed company. Conversely, restricted shares are those temporarily barred from trading. The regulatory framework of the stock market stipulates that no single company should have a weight exceeding 15 percent of the TASI index, a measure designed to prevent undue influence by major stocks.
It’s crucial to note that the TASI stock market index primarily gauges the value of free float shares of companies. It does not assess the total weight of a company within the index. In the latest assessment, Saudi Aramco leads the TASI index with a substantial value of 27.13 percent, followed by Al-Rajhi at 12.54 percent and the Saudi National Bank at 5.84 percent. These rankings indicate the influential positions of key players in the Saudi stock market, contributing to its overall resilience and strength.
