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
QNBK 127 470,450
ETISALAT 17.2 1,101,899
GFH 0.59 99,270
DAMAC 3.06 2,229,322
EMIRATESNBD 7.96 235,332
MASQ 69
SABIC 102.33 6,566,984
Recent News

Maaden announces new Vice Chairman
The Saudi Arabian Mining Company (Maaden) announces the Board of Directors decision on June 21, 2017 of appointing H.E. Sulaiman Bin Abdulrahman Al-Gwaiz (non-executive member) as the Vice Chairman f

QNB sees minimal impact from standoff
Qatar National Bank said it expects to meet its earnings targets as the ongoing Saudi-led campaign to ‘isolate’ the country has minimal impact on its operations.

The Middle East’s largest le

Egypt seeks FDI boost as its economy struggles
Egypt’s investment ministry has finalised a much-anticipated set of regulations outlining incentives that it hopes will lure back badly needed foreign investors, Investment Minister Sahar Nasr told R

Qatar bourse says Gulf institutions dumped Qatari shares
The Qatar Stock Exchange on Wednesday said it believed some institutional investors from Saudi Arabia, the UAE and Bahrain dumped shares to drive down the Qatari stock market in the wake of the diplo

UAE banks clear $175bn cheques in 5 months
A total of 12.922 million cheques worth Dh643.7 billion ($175 billion) were handled by the UAE Clearing Cheque System during the first five months of 2017, according to the UAE Central Bank data.

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?