Saudi Arabia’s stock market cap dipped by more than 11% in the first nine months of 2024 compared with a year ago.

Total equity market capitalisation at the end of the nine-month period reached SAR 10,102.73 billion ($2,694.06 billion), dropping by 11.46% over the same period last year, the Saudi Stock Exchange (Tadawul) reported on Tuesday.

However, the total value of shares traded during the same period went up by 50.8% to SAR 1,469.12 billion.

The volume of shares traded (adjusted to all corporate actions during the period) reached 65.35 billion, dropping by 8.95% from a year earlier.

In terms of the number of transactions, the exchange recorded a 45.12% growth, with total trades in the year to September reaching 97.95 million, up from 67.5 million a year ago.

The Tadawul All Share Index (TASI) closed at 12,226.10 points, rising by 1,170.14 points over the same period last year.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com