Tadawul announces new industry classification


08/01/2017 07:10 AST

The Saudi Stock Exchange (Tadawul) has reclassified its equity market sectors in accordance with the Global Industry Classification Standard (GICS).

The new industry classification shall be effective from Jan. 8, said a Tadawul statement. “This step is in line with Tadawul’s strategy to support the development of the Saudi capital market, and aims to enhance transparency and provide more reliable information on sector performance,” it added.

The new industry classification consists of 20 industry groups representing the second level of GICS. All listed companies have been briefed on the classification methodology, including the company’s business activity and revenue as the two main factors of classification.

The calculation of new sector indices will be calculated at 5,000 points, plus the companies’ data pertaining to the previous year to ensure better sector performance comparability. The new indices and the changed percentage values will appear on the second day of the launch. The companies’ history will still be available on Tadawul’s website.

The materials sector comprised the biggest number of listed companies, including leading petrochemical companies such as SABIC and SAFCO.

Arab News
Market News
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | News Archive
Most Viewed Companies
Ticker Price Volume
GFH 0.49 1,642,170
QNBK 133.5 133,285
SABIC 98.2 249,279
AMLAK 1.07 4,593,610
AIRARABIA 1.13 3,611,365
DSI 0.37 10,758,890
BKMB 0.37 624,000
Recent News

Drake & Scull to proceed with Fairmont Abu Dhabi MEP works
Drake & Scull International (DSI), a regional market leader in engineering and related services, has announced that it will proceed with the mechanical, electrical and plumbing (MEP) works for the Fa

$32bn worth urban projects 'at tendering stage in GCC'
As many as 801 construction projects with a combined estimated value of Dh117.44 billion ($32 billion) are currently in the tendering stage in the GCC's urban construction sector, according to a repo

Engie completes $762m investment in Tabreed
The National Central Cooling Company (Tabreed) has announced the successful completion of an investment of approximately Dh2.8 billion ($762.32 million) by Engie, a global energy company, to acquire

UAE Central Bank deposits top $33 billion in H1
The total value of monetary deposits at the UAE Central Bank amounted to Dh123 billion ($33.5 billion) during the first half (H1) of the year, Dh122.95 billion of which are in banknotes and Dh50 mill

Qatar sovereign wealth fund trims Credit Suisse stake
The Qatar Investment Authority has reduced its shareholding in Credit Suisse Group to 4.94 percent, amid the Middle Eastern nation’s diplomatic crisis with neighbouring countries.

The coun

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?