2 © All rights reserved
TASI Movement During July
TASI ended the month at 11,012.7 points, a 0.3%M/M increase. Total value traded stood at SAR 144.8bn, with an average daily value traded of SAR 9.05bn. Materials and Banks sectors accounted for 34.9% of the total value traded. Software & Services and Utilities were the best performing sectors, showing an increase of 21.6%M/M and 7.1%M/M, respectively. Food & Staples and Food
& Beverages sectors were the worst performers, showing a decline of 4.2%M/M each.
TASI started the month at 10,979.05 points and closed at 11,012.71 with an average daily value traded of SAR 9.05bn compared to SAR 13.4bn in June.
TASI increased YTD by 2,323.2 points (up 26.7%YTD), and increased M/M by 28.6 points (up 0.3%M/M). Software &
Services and Utilities sectors showed the highest M/M increase of 21.6%M/M and 7.1%M/M, respectively. On other hand, Food & Staples and Food
& Beverages sectors were the worst performers, recording a decline of 4.2%M/M each.
Materials and Banks registered the highest traded values among the sectors, accounting for 25.1% and 9.9%, respectively, of total value traded in July.
Value Traded(bn)-RHS Closing Price - LHS
6.00 8.00 10.00 12.00 14.00
10,500 10,600 10,700 10,800 10,900 11,000 11,100
1-Jul 4-Jul 5-Jul 6-Jul 7-Jul 8-Jul 11-Jul 12-Jul 13-Jul 14-Jul 15-Jul 25-Jul 26-Jul 27-Jul 28-Jul 29-Jul
Sectors Performance
Value Traded per Sector (%)
M/M Performance YTD
TASI Energy Materials Capital Goods Commercial Service Transportation Consumer Durables Consumer Services Media Retailing Food & Staples Food & Beverages Healthcare Pharma & Bio Tech Banks Diversified Financials Insurance Software & Services Telecom Utilities REITs Real Estate
0.3% 3.0% 0.6% 0.4% 0.1% 1.7% 4.7% 2.2% 21.6% 0.5% 7.1% 1.6% 1.8%
26.7% 2.5% 31.0% 41.2% 6.8% 32.0% 46.4% 16.5% 111.3% 25.5% 10.7% 39.5% 54.1% 35.0% 73.4% 14.6% 92.1% 21.6% 24.1% 19.8% 22.1%
-5.0%
15.0%
35.0%
55.0%
75.0%
95.0%
115.0%
-0.4% -1.8% -1.3% -0.1% -3.1% -4.2% -4.2% -1.1% -0.9%-4.0%
Materials Banks Insurance Real EstateMgmt &Dev't CapitalGoods Food &Beverages Retailing ConsumerDurables &Apparel Energy Software &Services Others
25.1%
9.9% 7.4% 6.8% 5.6% 5.1% 5.0% 4.4% 4.4% 3.9%
22.4%
0%
5%
10%
15%
20%
25%
Source: TADAWUL, Aljazira Capital
Source: Bloomberg, Aljazira Capital
Source: TADAWUL, Aljazira Capital
3 © All rights reserved
Arab Sea was the best performing stock in July, recording an increase of 22.9%M/M. Followed by Chemanol, which showed an increase of 21.7%M/M. On the other hand, Atheeb Telecom was the worst performing stock, recording a decline of 11.3%M/M, followed by Fawaz AlHokair which showed a decline of 8.3%M/M.
Amongst GCC markets, Abu Dhabi Index was the best performing index showing an increase of 7.1% M/M. On the other hand, Kuwait Index was the worst performer, showing a decline of 5.1%M/M.
SAIB and ARDCO traded at the lowest P/E of 12.29x and 13.13x, respectively. Followed by AXA Cooperative and Sipchem at 14.75x and 15.15x, respectively.
Monthly Abu Dhabi
(ADSMI) Dubai
(DFMGI) Bahrain
(BHSEASI) Oman
(MSM30) Kuwait
(KWSEPM)
TASI Qatar
(DSM) -6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
ARAB SEA CHEMANOL MIS ARDCO TASNEE TAKWEEN SABB TAKAFUL ALMARAI ALHOKAIR ATHEEB TELECOM
-15.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0% 22.9% 21.7% 20.9%
17.0%
12.0%
-6.3% -6.5% -7.4% -8.3%
-11.3%
12.29 13.13 14.75 15.14 15.27 15.80 15.92 16.91 16.95 17.08 17.68 17.69 17.94 18.10 18.88
7.0 9.0 11.0 13.0 15.0 17.0 19.0
SAIB ARDCO AXA COOPERATIVE Sipchem ALRAJHI TAKAFUL SAICO RIBL UACC Budget Saudi ANB ALBILAD Najran Cement SABB GASCO City Cement
Top/Worst Performing Companies GCC Market Performance
Companies with Lowest PE
Source: Bloomberg, Aljazira Capital
Source: TADAWUL, Aljazira Capital
Source: TADAWUL, Aljazira Capital * due to exceptional gain
4 © All rights reserved
3-month and 6-month SAIBOR remained flat at the end of the month at 0.79%
and 0.84%, respectively.
Saudi Arabia inflation rate increased to stand at 6.2% in June compared to 5.7% in May.
Bank Deposits showed an increase of 28.9bn (1.4%M/M) by the end of Jun. Loans showed an increase of 30.1bn (1.6%M/M).
SAIBOR 3M SAIBOR 6M
Apr-21 May-21 Jun-21 Jul-21
Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21
0.70%
0.80%
0.90%
1.00%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21
Changes In Deposits (%) -LHS Changes in Loans(%) -LHS ADR (RHS)
80%
82%
84%
86%
88%
90%
92%
94%
96%
98%
-2.5%
-1.0%
0.5%
2.0%
3.5%
5.0%
Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21
Inflation Rate SAIBOR
Deposits & loans
Source: Bloomberg, Aljazira Capital
Source: SAMA, Aljazira Capital
Source: SAMA, Aljazira Capital
Total loans showed an increase of 16.8%Y/Y in Jun. Loans with maturity above 3 years showed an increase of 29.5%Y/Y, and loans of maturity of 1-3 years showed an increase of 2.8%Y/Y.
While loans with maturity less than 1 year increased by 9.0%Y/Y.
Less than 1 Year (%) -LHS 1 to 3 year (%) -LHS Above 3 year (%) -LHS Total loan YoY Growth (%) -RHS -8.0%
-4.0%
0.0%
4.0%
8.0%
12.0%
16.0%
20.0%
-10.0%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21
Change in Loans by Maturity (%)
Source: SAMA, Aljazira Capital5 © All rights reserved
Demand deposits showed an increase of SAR 9.0bn (0.7%M/M) in Jun. Time & Saving Deposits showed an increase of SAR 6.1bn (1.4%M/M).
Government deposits showed an increase of 8.3% M/M.
Point of Sale showed a decline of 3.9%M/M in June and stood at SAR 38.7bn, with total number of transactions standing at 427.3mn (up 4.9%M/M).
Demand Deposit (LHS) Time & Savings Deposits (LHS)
Other Deposits (LHS) Government Deposits ( includes all types of deposits) (RHS)
SAR bn
SAR (Million)
500 550 600 650 700 750 800
-40,000 -20,000 0 20,000 40,000 60,000 80,000
Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21
Sales(bn) (LHS) No. of Transactions (mn) (RHS)
SAR bn SAR mn
May-19 Jul-19 Sep-19 Nov-19
Jan-19 Mar-19 May-20 Jul-20 Sep-20 Nov-20Jan-20 Mar-20 May-21Jan-21 Mar-21
0.0 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 450.0
10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0
Change in Demand - Time and Saving Deposits
POS (Point of Sale)
Source: SAMA, Aljazira Capital
Source: SAMA, Aljazira Capital
Brent showed an increase of 1.6%M/M, and closed at $76.33 While WTI showed an increase of 0/7%M/M, and closed at
$73.95.
Source: Argam, Aljazira Capital
Spread(RHS) Brent(LHS) WTI(LHS)
0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0
30.0 35.0 40.0 45.0 50.0 55.0 60.0 65.0 70.0 75.0 80.0
Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21
Oil Prices (USD) Commodities Prices
Source: Bloomberg, Aljazira Capital
6 © All rights reserved
Gold showed an increase of 2.5%M/M, and closed the month at $1,814.19. Where, silver showed a decline of 2.4%M/M and closed the month at $25.5.
Copper showed an increase of 4.3%M/M and ended the month at 4.48 USD/lb.
Steel showed an increase of 4.3%M/M and ended the month at 1,888 USD/ton.
VLCC rate declined from 320/USD/
day end of June to -5100 USD/day by end of July.
Changes in Gold Price(LHS) Changes in Silver Price(LHS) G/S Price (RHS) 60 70 80 90 100 110 120
-20.0%
-15.0%
-10.0%10.0%15.0%20.0%25.0%30.0%35.0%-5.0%0.0%5.0%
Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21
USD/Ib
2.0 2.5 3.0 3.5 4.0 4.5 5.0
Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21
USD/Ton
400 600 800 1000 1200 1400 1600 1800 2000
Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21
VLCC Rate
-10,000 -5,000 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000
Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21
* HRC1 Index
Gold & Silver (% Monthly change)
Copper
Steel*
VLCC Rate
Source: Bloomberg, Aljazira Capital
Source: Bloomberg, Aljazira Capital
Source: Bloomberg, Aljazira Capital
Source: Bloomberg, Aljazira Capital
7 © All rights reserved
EUR/USD Dollar Index
88 89 90 91 92 93 94 95
Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21
USD/YUAN
USD/YEN
Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21
1.10 1.12 1.14 1.16 1.18 1.20 1.22 1.24
6.30 6.40 6.50 6.60 6.70 6.80 6.90 7.00 7.10 7.20
Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21
100 102 104 106 108 110 112 114
Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21
Exchange Rate
Dollar Index decreased by 0.3%M/M at the end of July and stood at 92.17 points.
Euro increased by 0.1%M/M against the Dollar, standing at 1.19 EUR/USD.
YUAN declined by 0.07%M/M against the Dollar and stood at 6.46 USD/YUAN.
YEN increased by 1.25%M/M against the Dollar and stood at 109.72 USD/YEN.
Source: Bloomberg, Aljazira Capital
Source: Bloomberg, Aljazira Capital
Source: Bloomberg, Aljazira Capital
Source: Bloomberg, Aljazira Capital
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Head of Securities
Alaa Al-Yousef
+966 11 2256060Head of Sales and Distribution
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+966 11 2256364Head of International and Institutions
Ahmad Salman, CFA +966 11 2256201
