Riyadh, Saudi Arabia – The total market value of the primary Saudi stock market, represented by the All Tadawul Share Index (TASI), has reached an impressive SR11 trillion ($2.97 trillion). This valuation encompasses shares from 231 listed companies and funds currently actively traded in the market.
An analysis of the market by the Okaz and Saudi Gazette reveals that the market value of free float shares stands at approximately SR2.76 trillion ($0.74 trillion), constituting 25.02 percent of the total shares of these companies. The total number of shares listed on the main stock market is reported to be 336.56 billion, with free shares accounting for about 81.32 billion. The proportion of free shares is calculated at around 24.16 percent of the overall listed shares.
It’s important to highlight that free shares denote ownership by individuals or entities whose identities are not publicly disclosed. Conversely, non-free shares incorporate holdings by government agencies with stakes of five percent or more in a listed company. Also, restricted shares are those subjected to limitations on trading within specified periods.
To ensure a balanced market representation, the stock market has set a maximum weight limit of 15 percent for any company in the TASI index, preventing the dominance of major stocks. The TASI index specifically measures the value of free float shares and does not factor in the total company weight.
Breaking down the TASI index, Saudi Aramco claims the top position 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 figures underscore the robust performance and diverse composition of the Saudi stock market.