1 © All rights reserved
TASI Movement During January
TASI ended the month of January at 8,702.6 points, a 0.1%M/M increase. Total value traded stood at SAR 160.8bn, with an average daily value traded of SAR 7.66bn. Materials and Insurance sectors accounted for 34.4% of the total value traded. Software & Services and Consumer Durables were the best performing sectors, showing an increase of 7.4%M/M and 5.5%M/M, respectively.
Consumer Services and Food & Beverages sectors were the lowest performers, showing a decline of 4.5%M/M and 3.6%M/M, respectively.
TASI started the month at 8,689.5 points and closed at 8,702.6 with an average daily value traded of SAR 7.66bn compared to SAR 11.02bn in December 2020.
TASI increased YTD by 13.0 points (up 0.1%YTD). Software &
Services and Consumer Durables sectors showed the highest M/M increase of 7.4% M/M and 5.5%
M/M, respectively. On other hand, Consumer Services and Food & Beverages sectors were the lowest performing sectors, recording a decline of 4.5% M/M and 3.6% M/M, respectively.
Materials and Insurance registered the highest traded values among the sectors, accounting for 20.1% and 14.3%, respectively, of total value traded in January.
Value Traded(bn)-RHS Closing Price - LHS
5.00 6.00 7.00 8.00 9.00 10.00 11.00
8,500 8,550 8,600 8,650 8,700 8,750 8,800 8,850 8,900 8,950 9,000
3-Jan 4-Jan 5-Jan 6-Jan 7-Jan 10-Jan 11-Jan 12-Jan 13-Jan 14-Jan 17-Jan 18-Jan 19-Jan 20-Jan 21-Jan 24-Jan 25-Jan 26-Jan 27-Jan 28-Jan 31-Jan
Sectors Performance
Value Traded per Sector (%)
M/M Performance
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
0.1% 1.7%2.1%1.3%
5.5%
1.1% 2.1%
7.4%
4.4%
2.5%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
-1.2% -0.1%
-4.5%-2.7% -1.6%
-3.6% -3.1%
-0.4%
-2.5%-1.4% -0.1%
-2.1%
Materials Insurance Food and Beverage Capital Goods Banks Energy
Consumer Services Consumer Durables & ApparelCommercial &Professional Svc
Retailing Others
20.06%
14.33%
9.97% 8.28% 7.16% 5.95% 5.26% 4.59% 4.34% 3.60%
16.46%
%0
%5
%10
%15
%20
%25
Source: TADAWUL, Aljazira Capital
Source: Bloomberg, Aljazira Capital
Source: TADAWUL, Aljazira Capital
2 © All rights reserved
SADR was the best performing stock in January, recording an increase of 52.1%M/M. Followed by BAAZEEM, which showed an increase of 47.2%M/M. On the other hand, SOLIDARITY was the worst performing stock, recording a decline of 12.1%M/M, followed by ACIG which showed a decline of 11.9%M/M.
Amongst GCC markets, Abu Dhabi Index was the best performing index showing an increase of 10.9% M/M. On the other hand, Bahrain Index was the worst performer showing a decline of 1.8%M/M.
ALUJAIN and SEERA traded at the lowest P/E of 5.43x and 6.84x, respectively. Followed by BAHRI and ALETIHAD at 8.82x and 10.05x, respectively.
Monthly
Abu Dhabi
(ADSMI) Bahrain
(BHSEASI) (MSM30)Oman
Dubai
(DFMGI) Kuwait TASI
(KWSEPM) Qatar (DSM) -2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
52.1%
47.2%
27.5% 25.4%
22.1%
-20.0%
-10.0%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
SADR BAAZEEM ALOMRAN UCA ACC AYYAN SAUDI RE SPM ACIG SOLIDARITY
-8.0% -8.6% -10.8% -11.9% -12.1%
5.43 6.84
8.82 10.05 11.00 11.39 12.54 12.57 12.76 13.17 14.09 14.15 14.50 14.54 14.76
3.004.00 5.006.00 7.008.00 10.009.00 11.00 12.00 13.00 14.00 15.00
ALUJAIN* SEERA* BAHRI ALETIHAD NCB AXA COOPERATIVE ALDREES RIBL MAHARAH ANB BJAZ SAMBA UACC HCC SASCO
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
3 © All rights reserved
3-month and 6-month SAIBOR ended the month at 0.82%
and 0.87%, respectively. The 3-month SAIBOR showed an M/M decline of 0.3bps, while the 6-month SAIBOR showed a decline of 0.5bps.
Saudi Arabia inflation rate declined to stand at 5.30% in December compared to 5.80%
in November.
Bank Deposits showed an increase of 8.94bn (0.5%M/M) by the end of December. Loans showed an increase of 8.87bn (0.5%M/M).
SAIBOR 3M SAIBOR 6M
Oct 2020 Nov 2020 Dec 2020 Jan 2021
Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020 Sep 2020
0.80%
1.20%
1.60%
2.00%
2.40%
Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec -20
-2.00%
-1.00%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
Changes In Deposits (LHS) Changes in Loans (LHS) ADR (RHS)
80%
82%
84%
86%
88%
90%
92%
-2.5%
-1.0%
0.5%
2.0%
3.5%
5.0%
Jan-18 Jun-18 Nov-18 Apr-19 Sep-19 Feb-20 Jul-20 Dec-20
Inflation Rate SAIBOR
Deposits & loans
Source: Bloomberg, Aljazira Capital
Source: SAMA, Aljazira Capital
Source: SAMA, Aljazira Capital
Total loans showed an increase of 14.8%Y/Y in December.
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 10.7%Y/Y. While loans with maturity less than 1 year increased by 2.6%Y/Y.
Less than 1 Year (%) -LHS 1 to 3 year (%) -LHS Above 3 year (%) -LHS Total loan YoY Growth (%) -RHS -5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
-20.0%
-10.0%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
Jan-18 Jun-18 Nov-18 Apr-19 Sep-19 Feb-20 Jul-20 Dec-20
Change in Loans by Maturity (%)
Source: SAMA, Aljazira Capital4 © All rights reserved
Demand deposits showed an increase of SAR 23.3bn (1.8%M/M) in December. Time
& Saving Deposits showed an increase of SAR 2.4bn (0.5%M/M). Government deposits showed a decline of 4.8% M/M.
Point of Sale showed an increase of 9.8%M/M in December and stood at SAR 37.6bn, with total number of transactions standing at 346.6mn (up 9.0%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-18 Jun-18 Nov-18 Apr-19 Sep-19 Feb-20 Jul-20 Dec-20
Sales(bn) (LHS) No. of Transactions (mn) (RHS)
SAR bn
SAR mnDec-17 Feb-18 Apr-18 Jun-18 Aug-18 Oct-18 Dec-18 Feb-19 Apr-19 Jun-19 Aug-19 Oct-19 Dec-19 Feb-20 Apr-20 Jun-20 Aug-20 Oct-20 Dec-20
0.0 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0
10.0 15.0 20.0 25.0 30.0 35.0 40.0
Change in Demand - Time and Saving Deposits
POS (Point of Sale)
Source: SAMA, Aljazira Capital
Source: SAMA, Aljazira Capital
Brent showed an increase of 7.9%M/M, and closed at $55.9.
While WTI showed an increase of 7.6%M/M, and closed at
$52.2.
Spread(RHS) Brent(LHS) WTI(LHS)
-10 0 10 20 30 40 50 60 70
-60 -40 -20 0 20 40 60 80
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
Oil Prices (USD) Commodities Prices
Source: Bloomberg, Aljazira Capital
5 © All rights reserved
Gold showed a decline of 2.7%M/M, and closed the month at $1,747.7. Where, silver showed an increase of 2.2%M/M and closed the month at $27.0.
Copper showed an increase of 1.1%M/M and ended the month at 3.56 USD/lb.
Steel showed an increase of 14.3%M/M and ended the month at 1,149.0 USD/ton.
VLCC rate showed a decline of 94.3%M/M by end of January, standing at USD 1.02K/day.
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%-5.0%0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21
USD/Ib
2.0 2.2 2.4 2.6 2.8 3.0 3.2 3.4 3.6 3.8
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
USD/Ton
400 500 600 700 800 900 1000 1100 1200
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
VLCC Rate
(2,000) 48,000 98,000 148,000 198,000 248,000
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
* 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
6 © All rights reserved
EUR/USD Dollar Index
88 90 92 94 96 98 100 102 104
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
USD/YUAN
USD/YEN
1.06 1.08 1.1 1.12 1.14 1.16 1.18 1.2 1.22 1.24
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
6.3 6.4 6.5 6.6 6.7 6.8 6.9 7 7.1 7.2
Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21
Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Jan-21Dec-20
100 102 104 106 108 110 112 114
Exchange Rate
Dollar Index increased by 0.7%M/M at the end of January and stood at 90.58 points.
Euro decreased by 0.7%M/M against the Dollar, standing at 1.21 EUR/USD.
YUAN increased by 1.5%M/M against the Dollar and stood at 6.43 USD/YUAN.
YEN decreased by 1.38%M/M against the Dollar and stood at 104.68 USD/YEN.
Source: Bloomberg, Aljazira Capital
Source: Bloomberg, Aljazira Capital
Source: Bloomberg, Aljazira Capital
Source: Bloomberg, Aljazira Capital
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General Manager – Brokerage Services &
sales
Alaa Al-Yousef
+966 11 2256060AGM-Head of international and institutions
Ahmad Salman, CFA +966 11 2256201
AGM-Head of Qassim & Eastern Province
Abdullah Al-Rahit
+966 16 3617547AGM-Head of Central & Western Region Investment Centers
