Saudi Arabia’s TadawulAll Share Index (TASI) added 0.6%, or 70 points, to close out 2024 at 12,037 compared to 11,967 points in 2023, data compiled by Argaamshowed. 
The Saudi gauge notched a 19-year higher, after closing at 16,713 points in 2005.
The index gained 3.6%, or 435 points, in A1 2024, but slumped 5.8%, or 722 points in the second quarter.
In Q3, TASI jumped 4.7%, or 546 points, but dropped 1.5%, or 189 points in the last quarter of the year.
Various events shaped the market performance, notably the Federal Reserve’s decision to cut interest rates three times in 2024 by a total of 100 basis points, bringing rates to a range of 4.25% to 4.50%. In response, the Saudi Central Bank (SAMA) also reduced reverse repo and repo rates three times during the year to 450 basis points and 500 basis points, respectively.
Moreover, 8% of Saudi Aramco’s total issued shares were transferred from the state to portfolios managed by companies owned by the Public Investment Fund (PIF). Additionally, Saudi Aramco conducted a secondary public offering of 1.545 billion shares, representing 0.64% of the company’s shares.
In December, OPEC decided to postpone its plan to increase oil production until April 2025.
Saudi Arabia also announced its 2025 budget, projecting revenues of SAR 1.1 trillion and expenditures of SAR 1.28 trillion.
In 2024, 13 companies and one REIT were listed on the Saudi Exchange (Tadawul). Moreover, oil prices ranged between $68 and $93 per barrel.
TASI Performance Since 2005
Year
Closing
(points)
Change
(points)
Change
(%)
2005
16713
+8507
+104%
2006
7934
(8779)
(53%)
2007
11039
+3105
+39%
2008
4803
(6236)
(56%)
2009
6122
+1319
+27%
2010
6621
+499
+8%
2011
6418
(203)
(3%)
2012
6801
+383
+6%
2013
8536
+1735
+26%
2014
8333
(203)
(2%)
2015
6912
(1421)
(17%)
2016
7210
+298
+4%
2017
7226
+16
+0.2%
2018
7827
+601
+8%
2019
8389
+562
+7%
2020
8690
+301
+4%
2021
11282
+2592
+30%
2022
10478
(804)
(7%)
2023
11967
+1489
+14%
2024
12037
+70
+0.6%
The table below shows TASI quarterly performance since 2010
TASI Quarterly Performance Since 2010
Year
Opening (points)
Closing (points)
Change(points)
2010
Q1
6122
6801
+11.1%
Q2
6801
6094
(10.4%)
Q3
6094
6392
+4.9%
Q4
6392
6621
+3.6%
2011
Q1
6621
6563
(0.9%)
Q2
6563
6576
+0.2%
Q3
6576
6112
)7.1%)
Q4
6112
6418
+5.0%
2012
Q1
6418
7835
+22.1%
Q2
7835
6710
(14.4%)
Q3
6710
6840
+1.9%
Q4
6840
6801
(0.6%)
2013
Q1
6801
7126
+4.8%
Q2
7126
7497
+5.2%
Q3
7497
7965
+6.2%
Q4
7965
8536
+7.2%
2014
Q1
8536
9474
+11.0%
Q2
9474
9513
+0.4%
Q3
9513
10855
+14.1%
Q4
10855
8333
(23.2%)
2015
Q1
8333
8779
+5.3%
Q2
8779
9087
+3.5%
Q3
9087
7404
(18.5%)
Q4
7404
6912
(6.7%)
2016
Q1
6912
6223
(10.0%)
Q2
6223
6500
+4.4%
Q3
6500
5623
(13.5%)
Q4
5623
7210
+28.2%
2017
Q1
7210
7002
(2.9%)
Q2
7002
7426
+6.1%
Q3
7426
7283
(1.9%)
Q4
7283
7226
(0.8%(
2018
Q1
7226
7871
+8.9%
Q2
7871
8314
+5.6%
Q3
8314
8000
(3.8%)
Q4
8000
7827
(2.2%)
2019
Q1
7827
8819
+12.7%
Q2
8819
8822
+0.03%
Q3
8822
8092
(8.3%)
Q4
8092
8389
+3.7%
2020
Q1
8389
6505
(22.5%)
Q2
6505
7224
+11.0%
Q3
7224
8299
+14.9%
Q4
8299
8690
+4.7%
2021
Q1
8690
9908
+14.0%
Q2
9908
10984
+10.9%
Q3
10984
11496
+4.7%
Q4
11496
11282
(1.9%)
2022
Q1
11282
13090
+16.0%
Q2
13090
11523
(12.0%)
Q3
11523
11405
(1.0%)
Q4
11405
10478
(8.1%)
2023
Q1
10478
10590
+1.1%
Q2
10590
11459
+8.2%
Q3
11459
11056
(3.5%)
Q4
11056
11967
+8.2%
2024
Q1
12402
+3.6%
11967
Q2
11680
(5.8%)
12402
Q3
12226
+4.7%
11680
Q4
12037
(1.5%)
12226
Monthly performance:
TASIgainedin six months of 2024. It recorded the biggest monthly rise of 7.1% (834 points) in February, and 3.7% or 430 points in July.
On the other hand, the benchmark declined in six months. It recorded the biggest monthly loss of 7.2% (892 points) in May.
Saudi Arabia’s TadawulAll Share Index (TASI) added 0.6%, or 70 points, to close out 2024 at 12,037 compared to 11,967 points in 2023, data compiled by Argaamshowed.
The Saudi gauge notched a 19-year higher, after closing at 16,713 points in 2005.
The index gained 3.6%, or 435 points, in A1 2024, but slumped 5.8%, or 722 points in the second quarter.
In Q3, TASI jumped 4.7%, or 546 points, but dropped 1.5%, or 189 points in the last quarter of the year.
Various events shaped the market performance, notably the Federal Reserve’s decision to cut interest rates three times in 2024 by a total of 100 basis points, bringing rates to a range of 4.25% to 4.50%. In response, the Saudi Central Bank (SAMA) also reduced reverse repo and repo rates three times during the year to 450 basis points and 500 basis points, respectively.
Moreover, 8% of Saudi Aramco’s total issued shares were transferred from the state to portfolios managed by companies owned by the Public Investment Fund (PIF). Additionally, Saudi Aramco conducted a secondary public offering of 1.545 billion shares, representing 0.64% of the company’s shares.
In December, OPEC decided to postpone its plan to increase oil production until April 2025.
Saudi Arabia also announced its 2025 budget, projecting revenues of SAR 1.1 trillion and expenditures of SAR 1.28 trillion.
In 2024, 13 companies and one REIT were listed on the Saudi Exchange (Tadawul). Moreover, oil prices ranged between $68 and $93 per barrel.
TASI Performance Since 2005
Year
Closing
(points)
Change
(points)
Change
(%)
2005
16713
+8507
+104%
2006
7934
(8779)
(53%)
2007
11039
+3105
+39%
2008
4803
(6236)
(56%)
2009
6122
+1319
+27%
2010
6621
+499
+8%
2011
6418
(203)
(3%)
2012
6801
+383
+6%
2013
8536
+1735
+26%
2014
8333
(203)
(2%)
2015
6912
(1421)
(17%)
2016
7210
+298
+4%
2017
7226
+16
+0.2%
2018
7827
+601
+8%
2019
8389
+562
+7%
2020
8690
+301
+4%
2021
11282
+2592
+30%
2022
10478
(804)
(7%)
2023
11967
+1489
+14%
2024
12037
+70
+0.6%
The table below shows TASI quarterly performance since 2010
TASI Quarterly Performance Since 2010
Year
Opening (points)
Closing (points)
Change(points)
2010
Q1
6122
6801
+11.1%
Q2
6801
6094
(10.4%)
Q3
6094
6392
+4.9%
Q4
6392
6621
+3.6%
2011
Q1
6621
6563
(0.9%)
Q2
6563
6576
+0.2%
Q3
6576
6112
)7.1%)
Q4
6112
6418
+5.0%
2012
Q1
6418
7835
+22.1%
Q2
7835
6710
(14.4%)
Q3
6710
6840
+1.9%
Q4
6840
6801
(0.6%)
2013
Q1
6801
7126
+4.8%
Q2
7126
7497
+5.2%
Q3
7497
7965
+6.2%
Q4
7965
8536
+7.2%
2014
Q1
8536
9474
+11.0%
Q2
9474
9513
+0.4%
Q3
9513
10855
+14.1%
Q4
10855
8333
(23.2%)
2015
Q1
8333
8779
+5.3%
Q2
8779
9087
+3.5%
Q3
9087
7404
(18.5%)
Q4
7404
6912
(6.7%)
2016
Q1
6912
6223
(10.0%)
Q2
6223
6500
+4.4%
Q3
6500
5623
(13.5%)
Q4
5623
7210
+28.2%
2017
Q1
7210
7002
(2.9%)
Q2
7002
7426
+6.1%
Q3
7426
7283
(1.9%)
Q4
7283
7226
(0.8%(
2018
Q1
7226
7871
+8.9%
Q2
7871
8314
+5.6%
Q3
8314
8000
(3.8%)
Q4
8000
7827
(2.2%)
2019
Q1
7827
8819
+12.7%
Q2
8819
8822
+0.03%
Q3
8822
8092
(8.3%)
Q4
8092
8389
+3.7%
2020
Q1
8389
6505
(22.5%)
Q2
6505
7224
+11.0%
Q3
7224
8299
+14.9%
Q4
8299
8690
+4.7%
2021
Q1
8690
9908
+14.0%
Q2
9908
10984
+10.9%
Q3
10984
11496
+4.7%
Q4
11496
11282
(1.9%)
2022
Q1
11282
13090
+16.0%
Q2
13090
11523
(12.0%)
Q3
11523
11405
(1.0%)
Q4
11405
10478
(8.1%)
2023
Q1
10478
10590
+1.1%
Q2
10590
11459
+8.2%
Q3
11459
11056
(3.5%)
Q4
11056
11967
+8.2%
2024
Q1
12402
+3.6%
11967
Q2
11680
(5.8%)
12402
Q3
12226
+4.7%
11680
Q4
12037
(1.5%)
12226
Monthly performance:
TASIgainedin six months of 2024. It recorded the biggest monthly rise of 7.1% (834 points) in February, and 3.7% or 430 points in July.
On the other hand, the benchmark declined in six months. It recorded the biggest monthly loss of 7.2% (892 points) in May.
