19 JULY 2020 NCBC ON THE MARKETS CLOSING BELL · 2020-07-19 · CLOSING BELL NCB CAPITAL 19 JULY...
Transcript of 19 JULY 2020 NCBC ON THE MARKETS CLOSING BELL · 2020-07-19 · CLOSING BELL NCB CAPITAL 19 JULY...
Please refer to the last page for important disclaimer www.alahlicapital.com
Saudi Arabia - TASI: The benchmark TASI declined
0.1%, closing at 8,236.17 points. SABB and Al Rajhi
were up 0.6% and 0.3%, respectively. SAMBA and
Ma'aden were down 1.5% and 1.0%, respectively. The
Diversified Financials sector increased 1.9%, while the
Food & Staples sector declined 2.8%.Market breadth
was positive with 110 stocks up and 76 stocks down.
Turnover stood at SAR 10.1bn.
Saudi Arabia – MT30: The benchmark MSCI Tadawul
30 Index declined 0.4%, closing at 1,089.0 points.
Saudi Arabia – NomuC: The benchmark NomuC
gained 3.8%, closing at 14,509.8 points. Turnover stood
at SAR 49.7mn.
Dubai: The DFM benchmark index declined 1.5%,
closing at 2,252.3 points. Emaar Development was
down 3.2%.
Abu Dhabi: The Abu Dhabi index declined 0.5%,
closing at 4,466.8 points. Etisalat was up 0.4%. AD
National Energy was down 2.1%.
Kuwait: The Kuwait Main Market benchmark declined
0.3%, closing at 6,221.6 points. Warba Bank was up
1.6%. Burgan Bank was down 1.9%.
Qatar: The Qatari bourse benchmark remained flat,
closing at 9,788.3 points. Ooredoo was up 7.0%. Masraf
Al Rayan was down 1.2%.
Egypt: The EGX30 benchmark declined 0.6%, closing
at 10,911.4 points. Eastern Tobacco was up 0.7%. T M
G Holding was down 2.6%.
Oman: The MSM30 benchmark index gained 0.1%,
closing at 3,627.0 points. Nat'l Bk Of Oman was up
1.8%. HSBC was down 1.1%.
Bahrain: The Bahrain benchmark index remained flat,
closing at 1,450.4 points. Bahrain Telecom was up
0.4%. GFH Financial Grp was down 1.8%.
`
Najran cement to distribute SAR0.75 for H1 20:
Najran Cement announced a cash dividend of
SAR0.75/share for H1 20. . Record date is 01 October
2020 December, while payment date will be announced
later. (Tadawul, NCBC Research)
SACO opens a new store in Jeddah: SACO
announced the opening of a new store in Jeddah, with
an area of 5,517 sqm. This will increase SACO store
count to 35 stores in Saudi Arabia covering 18 cities.
(Tadawul, NCBC Research)
Weekly POS sales down 6.2% wow: Point-of-sales
(POS) transactions declined by -6.2% wow (+37.2% yoy)
to SAR6.88bn for the week ended 19 September 2020
from SAR7.33bn a week earlier. Number of transactions
dropped by -4.4% wow (+94% yoy) to 64,385 for the
week vs 67,353 for the week earlier. In 2020 ytd, POS
transaction are up +20.1% to SAR238.5bn, while number
of transaction are up +67.8% to 1.76mn. (Sama, NCBC
Research)
Resumption of Umrah services: Saudi Arabia
announced to resume Umrah in four phases. The first
phase (04 October), citizens and residents will be
allowed to perform Umrah at a 30% capacity (6,000
pilgrims per day). In the second phase (October 18) as
well citizens and residents will only be allowed to perform
Umrah, but at 75% capacity (15,000 pilgrims per day).
Under the third phase (November 01), Umrah, visits will
also be allowed for the people outside the country at a
100% capacity (20,000 Umrah pilgrims per day), but for
those countries approved by the MOH. Under the fourth
phase, Umrah and prayers will be allowed for at 100%
capacity. The four phases will be under continuous
evaluation, in light of the COVID-19 pandemic
developments. (SPA, NCBC Research)
Market performance MSCI EM vs. MSCI World (last 2 months) Index Close % last %MTD %QTD %YTD
2,000
2,100
2,200
2,300
2,400
2,500
2,600
900
950
1,000
1,050
1,100
1,150
23-Sep14-Sep3-Sep25-Aug14-Aug5-Aug27-Jul16-Jul7-Jul
MSCI EM (RHS) MSCI World
Saudi - TASI 8,236.2 (0.1) 3.7 14.0 (1.8)
Saudi - MT30 1,089.0 (0.4) 2.5 9.2 (7.5)
Saudi - NomuC 14,509.8 3.8 56.4 81.0 102.1
Dubai 2,252.3 (1.5) 0.3 9.1 (18.5)
Abu Dhabi 4,466.8 (0.5) (1.2) 4.2 (12.0)
Kuwait 6,221.6 (0.3) 6.3 11.0 (10.8)
Qatar 9,788.3 0.0 (0.6) 8.8 (6.1)
Egypt 10,911.4 (0.6) (4.0) 1.4 (21.8)
Oman 3,627.0 0.1 (3.8) 3.2 (8.9)
Bahrain 1,450.4 (0.0) 5.0 13.5 (9.9)
Source: Bloomberg Source: Bloomberg
24 SEPTEMBER 2020
NCBC ON THE MARKETS CLOSING BELL
Market Recap Economy and Business News
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
2
Regional and global markets statistics
Regional markets Mcap($bn) T/O ($mn) P/E-TTM P/BV DY (%) ROE-TTM(%) ROA-TTM(%)
Saudi - TASI 2,468.9 2,583.9 30.0 2.0 2.5 6.2 1.5
Saudi - Nomu 2.1 54.3 58.3 6.7 1.1 11.1 8.2
Qatar 143.2 140.6 15.9 1.5 4.1 9.4 1.8
Abu Dhabi 182.7 89.9 16.3 1.3 5.5 8.0 1.3
Dubai 66.9 75.0 8.5 0.8 4.3 8.9 1.8
Kuwait 26.9 64.6 NA 0.8 3.5 (0.6) (0.2)
Bahrain 22.0 2.4 13.5 0.9 4.8 6.6 1.0
Oman 10.9 0.6 10.8 0.7 6.7 7.2 1.2
Egypt 19.8 29.4 11.4 1.5 2.9 13.0 2.4
Source: Bloomberg, NCBC Research
Global equity indices Interest rates
Index value % Chg % YTD P/E 1 month 3month 6month
S&P 500 3,236.9 (2.4) 0.2 25.2
NASDAQ 10,633.0 (3.0) 18.5 61.2
FTSE 5,845.6 (0.9) (22.5) 104.5
Nikkei 23,087.8 (1.1) (2.4) 37.5
Singapore 2,450.8 (1.2) (24.0) 18.4
Hang Seng 23,311.1 (1.8) (17.3) 12.3
KSA (SIBOR) 0.71 0.87 0.92
UAE (AEIBOR) 0.27 0.46 0.69
LIBOR (US$) 0.15 0.22 0.27
US T-BILL (Yield) 0.07 0.08 0.09
KSA Inter-bank deposits 0.80 1.00 1.15
USA-10yr Govt (Yield)
0.66
Source: Bloomberg
Source: Bloomberg
Currencies vs. USD Commodities market Currencies Exchange rate % Chg % YTD Price % Chg % YTD
Saudi Riyal 3.75 0.0 0.0
Japanese Yen 105.42 (0.0) 3.0
Euro 1.16 (0.2) 3.8
Great British Pound 1.28 0.2 (3.8)
Swiss Franc 0.93 (0.2) 4.4
Gold 1,856.1 (0.4) 22.3
Nat Gas Spot ($/MMBTU) 1.7 16.8 (16.7)
Brent ($/bbl) 40.9 (0.0) (38.4)
OPEC Grade ($/bbl) 41.4 0.2 (39.1)
Copper Futures ($/lb) 292.9 (2.2) 3.6
Source: Bloomberg
Source: Bloomberg
Company events Country Event Date Details
SABIC Saudi Arabia Record date SAR1.5 DPS (H1 20) 03 September 2020
Othaim Saudi Arabia Record date SAR3.0 DPS (H1 20) 03 September 2020
Riyad REIT Saudi Arabia Record date SAR0.2 DPS (H1 20) 03 September 2020
SHG Saudi Arabia Dividends payment date (SAR0.4/share) 06 September 2020
Mahara Saudi Arabia H1 20 DPS record date of SAR2.25 06 September 2020
Thimar Saudi Arabia Start trading OTC 06 September 2020
Abu Moati Saudi Arabia 2019 DPS record date of SAR0.5 09 September 2020
Qassim Cement Saudi Arabia Dividends payment date (SAR1.0/share) 09 September 2020
Othaim Saudi Arabia Dividends payment date (SAR3.0/share) 10 September 2020
Um Alqurra Saudi Arabia Dividends payment date (SAR0.3/share) 10 September 2020
Jouf Agri. Saudi Arabia Dividends payment date (SAR0.5/share) 10 September 2020
SABIC Saudi Arabia Dividends payment date (SAR1.5/share) 20 September 2020
Maharah Saudi Arabia Dividends payment date (SAR2.25/share) 21 September 2020
Abo Moati Saudi Arabia Dividends payment date (SAR0.50/share) 21 September 2020
Northern Cement Saudi Arabia Dividends payment date (SAR0.25/share) 24 September 2020
Source: Mubasher
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
3
Saudi Arabia - TASI
Market recap: The benchmark TASI declined 0.1%, closing at 8,236.17 points. SABB and Al Rajhi were up 0.6%
and 0.3%, respectively. SAMBA and Ma'aden were down 1.5% and 1.0%, respectively. The Diversified Financials
sector increased 1.9%, while the Food & Staples sector declined 2.8%.Market breadth was positive with 110 stocks
up and 76 stocks down. Turnover stood at SAR 10.1bn.
TASI intraday
TASI 1-year movement and turnover
8,170
8,180
8,190
8,200
8,210
8,220
8,230
8,240
8,250
8,260
10:00 10:50 11:40 12:30 13:20 14:10
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
8,500
9,000
0
50
100
150
200
250
300
Sep-20Jun-20Mar-20Jan-20Oct-19
Turnover (RHS) TASI
Source: Bloomberg, NCBC Research
Source: Bloomberg, NCBC Research
Top gainers Top losers Most active
Company Close %Chg T/O Company Close %Chg T/O Company Close %Chg T/O
Al Sagr Ins. 14.96 10.0 20.1
Wataniya Insurance 58.40 10.0 17.7
Al-Ahlia Ins. 14.78 10.0 1.5
Tihama 55.30 9.9 125.7
Najran Cement 15.56 9.9 18.1
Al Othaim 128.20 (3.0) 4.6
BCI 28.40 (2.9) 5.5
Care 55.70 (2.3) 3.8
SPIMACO 33.80 (2.0) 9.3
SARCO 82.90 (2.0) 42.2
Saudi Fisheries 54.00 5.9 293.8
Tihama 55.30 9.9 125.7
Amana Insurance 30.00 2.2 104.6
Dar Al Arkan 8.89 (0.1) 85.9
Alinma Bank 16.12 (0.9) 57.8
Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research
All Close values are in SR unless specified otherwise, T/O in $ million
Performance and valuation of market heavyweights
Close T/O MCap Price change TTM (%) Valuation (x) DY
Company (SR) ($mn) ($mn) %Last %MTD %YTD ROE ROA P/E-TTM PBV (%)
Saudi Aramco 36.70 57.5 1,957,333 0.1 3.2 4.1 23.9 22.1 17.6 7.1 2.1
SABIC 88.80 39.2 71,040 (0.9) 0.9 (5.4) (1.9) 1.8 NA 1.6 4.2
STC 100.00 35.2 53,333 (0.6) 4.2 (1.8) 17.1 9.0 18.7 3.2 4.0
Al Rajhi 66.80 37.1 44,533 0.3 2.9 2.1 19.3 2.6 17.1 3.2 2.2
NCB 37.30 13.8 29,840 (0.5) 0.3 (24.3) 17.0 2.2 10.8 1.8 3.2
Saudi Electricity 16.50 20.5 18,333 (0.6) 3.6 (18.4) (1.7) 0.3 NA 1.0 4.2
Riyad Bank 18.90 6.2 15,120 (0.7) (1.5) (21.3) 12.9 2.1 11.1 1.4 0.0
SAMBA 27.00 4.0 14,400 (1.5) (2.0) (16.8) 9.3 1.6 12.5 1.2 2.6
SABB 25.30 6.1 13,863 0.6 (5.8) (27.1) (7.4) 1.1 NA 1.1 4.7
Ma'aden 40.80 3.2 13,389 (1.0) 3.6 (8.1) (4.0) (0.8) NA 1.7 0.0
Source: Bloomberg, NCBC Research
Top 5 stocks rising for 3 consecutive days
Top 5 stocks losing for 3 consecutive days
22-Sep 23-Sep 24-Sep 24-Aug
Amana Insurance 26.7 29.4 30.0 24.3
Al Sagr Ins. 12.8 13.6 15.0 12.7
UCA 12.9 13.8 14.7 12.8
Malath Insurance 17.3 18.3 18.7 16.3
Solidarity Takaful 15.5 16.1 17.2 15.1
22-Sep 23-Sep 24-Sep 24-Aug
Alsorayai 20.3 19.9 19.7 21.1
SIIG 23.6 23.4 23.0 24.3
KEC 13.0 12.8 12.7 13.3
Zamil Ind. 19.5 19.4 19.3 20.2
Advanced 59.9 58.9 57.9 60.7
.
Source: Bloomberg, NCBC Research
.
Source: Bloomberg, NCBC Research
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
4
Companies touching a new 52-week high*
Companies touching a new 52-week low*
Close
Intra-day
high %chg
T/O
($mn)
Jarir 184.2 186.0 1.2 12.5
Najran Cement 15.6 15.6 9.9 18.1
Hail Cement 15.1 15.2 5.6 17.8
Chemanol 11.2 11.5 6.0 44.9
Farm Superstore 29.4 30.9 (1.7) 28.4
Close
Intra-day
low %chg
T/O
($mn)
.
Source: Bloomberg, NCBC Research * List includes top 5 companies by market cap who have crossed 52-week high today
.
Source: Bloomberg, NCBC Research * List includes top 5 companies by market cap who have crossed 52-week low today
Sector performance – today
Market volume and number of trades
1.91.6
1.1 0.9 0.8 0.7 0.6 0.4 0.4 0.2 0.2 0.0 0.0
-0.1 -0.1 -0.2 -0.3 -0.4 -0.5
-2.0
-2.8-4.0
-3.0
-2.0
-1.0
0.0
1.0
2.0
3.0
Div
ers
ifie
d F
ina
nci
als
Insu
ran
ce
Me
dia
Re
taili
ng
Tra
ns
po
rt
Ca
pita
l G
ood
s
He
alt
h C
are
Co
mm
erc
ial &
Pro
f.
RE
ITs
Co
nsu
me
r S
erv
ice
s
Re
al E
sta
te
En
erg
y
Fo
od
& B
eve
rag
TA
SI
Co
nsu
me
r D
ura
ble
s
Ma
teria
ls
Ba
nks
Te
lec
om
Util
itie
s
Ph
arm
a
Fo
od
& S
tap
les
-
100
200
300
400
500
600
700
0
100
200
300
400
500
600
700
800
900
24-Sep22-Sep21-Sep20-Sep17-Sep16-Sep15-Sep14-Sep
Volume (LHS) No. of trades
(mn)
Source: Bloomberg, NCBC Research
Source: Bloomberg, NCBC Research
Saudi indices – performance and valuation
Index No. of Turnover Mkt cap Free float Change (%) TTM (%) Valuation (x)
Index value Cos (SR mn) (SR mn) Wt (%) Last YTD ROE ROA PBV P/E TTM
TASI 8,236 201 9,494 9,248,788 100.0 (0.1) (1.8) 6.2 1.5 2.0 30.0
Energy 5,600 5 667 7,372,161 13.0 0.0 2.9 16.8 7.3 5.2 23.4 Materials 5,095 41 1,353 529,340 20.6 (0.2) (1.4) (0.5) (0.2) 1.7 190.8
Capital Goods 5,128 11 320 11,850 0.8 0.7 18.4 (2.6) (1.0) 1.8 -
Commercial & Prof. 4,139 3 66 9,644 0.5 0.4 (13.3) 18.8 8.1 4.8 24.6
Transportation 4,429 5 144 12,596 0.9 0.8 0.8 2.2 1.1 2.0 85.5
Consumer Durables 4,635 6 114 5,250 0.3 (0.1) 32.2 (7.6) (4.0) 2.2 -
Consumer Services 4,102 10 247 19,396 1.1 0.2 3.6 10.7 6.3 1.4 13.3 Media 9,565 2 505 6,628 0.2 1.1 1.7 13.8 3.2 4.9 39.9
Retailing 8,438 11 166 35,686 3.5 0.9 9.6 16.1 4.6 6.8 8,780.0
Food & Staples 10,475 3 124 13,432 0.8 (2.8) 58.3 20.6 5.8 6.9 -
Food & Beverages 5,712 12 1,630 98,744 3.7 0.0 31.2 10.2 3.8 3.4 34.4 Health Care Equipment 5,175 7 148 56,494 2.1 0.6 38.7 11.1 5.4 3.7 32.7
Pharma 4,459 1 35 4,056 0.2 (2.0) 24.0 (9.6) (3.6) 2.3 -
Banks 7,053 11 567 583,748 35.6 (0.3) (13.0) 9.8 1.4 1.6 16.6
Diversified Financials 4,369 4 230 34,735 0.3 1.9 32.3 (2.2) (1.3) 1.3 -
Insurance 5,811 31 2,105 50,405 2.7 1.6 28.7 7.2 2.4 2.8 40.2 Telecom 6,548 3 277 228,959 6.9 (0.4) 1.2 11.1 4.4 2.5 22.6
Utilities 3,656 2 83 71,036 1.3 (0.5) (16.9) (1.5) (0.2) 1.0 -
REITs 4,168 17 92 13,011 0.8 0.4 (0.7) 4.5 3.6 1.0 22.7
Real Estate 3,330 11 620 91,618 5.3 0.2 6.3 (1.3) (0.6) 1.6 -
Source: Bloomberg, NCBC Research * Aggregate P/E calculation considers companies whose earnings data is negative; # - based on latest available book value
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
5
Saudi Arabia - Nomu Market recap: The benchmark NomuC gained 3.8%, closing at 14,509.8 points. Turnover stood at SAR 49.7mn.
Nomu intraday
Nomu 1-year movement and turnover
12800
13000
13200
13400
13600
13800
14000
14200
14400
10:00 10:30 11:00 11:30 12:00 12:30 13:00 13:30
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
-
200
400
600
800
1,000
1,200
Sep-20Jun-20Mar-20Jan-20Oct-19
Turnover (RHS) Nomu
Source: Bloomberg, NCBC Research
Source: Bloomberg, NCBC Research
Top gainers Top losers Most active
Company Close %Chg T/O Company Close %Chg T/O Company Close %Chg T/O
Al-Samaani 160.0 10.3 1.8
DWF 142.0 4.1 7.9
NBM 309.0 0.8 0.0
Sumou 57.8 (1.7) 2.5
SAWCEM 28.6 (1.6) 1.1
DWF 142.0 4.1 7.9
Sumou 57.8 (1.7) 2.5
Al-Samaani 160.0 10.3 1.8
SAWCEM 28.6 (1.6) 1.1
NBM 309.0 0.8 0.0
Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research
All Close values are in AED unless specified otherwise, T/O in $ million
Performance and valuation
Close T/O MCap Price change (%) Valuation (x) DY
Company (SR) ($mn) ($mn) %Last %MTD %YTD ROE ROA P/BV P/E (%)
SAWCEM 28.6 1.03 914 (1.6) 42.8 42.8
0.0 2.0
2.6
NBM 309.0 0.00 494 0.8 29.8 10.8 4.8 3.1 13.8 293.2
Sumou 57.8 2.48 385 (1.7) 2.1
11.8
0.2
Al-Samaani 160.0 1.82 107 10.3 77.8 97.8 (5.5) (4.6) 12.2
0.2
DWF 142.0 7.92 95 4.1 111.3 80.0 24.1 5.9 4.6 27.5
Source: Bloomberg, NCBC Research
Top 5 stocks rising for 3 consecutive days
Top 5 stocks losing for 3 consecutive days
22-Sep 23-Sep 24-Sep 24-Aug
22-Sep 23-Sep 24-Sep 24-Aug
.
Source: Bloomberg, NCBC Research
.
Source: Bloomberg, NCBC Research
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
6
Saudi equities fact sheet
Performance and valuation
TASI Close T/O Mkt cap FF Price change TTM (%) Valuation (x) Div yld
Code Company Name (SR) (SR mn) (SR mn) wt(%) % last % YTD ROE ROA P/E P/BV (%)
Energy
2222 Saudi Arabian Oil Co 36.7 216 7,340,000 10.9 0.1 4.1 23.9 22.1 17.6 7.1 3.8
4030 National Shipping Co Of/The 39.9 172.3 15,691 1.0 (0.7) (0.4) 16.6 7.6 10.0 1.6 2.5
2380 Rabigh Refining And Petroche 14.2 105.9 12,474 0.3 0.0 (34.3) (42.7) (5.1)
1.8 -
4200 Aldrees Petroleum And Transp 66.6 15.0 3,996 0.3 0.0 6.6 39.1 7.9 13.8 4.8 2.3
2030 Saudi Arabia Refineries Co 82.9 158.2 1,244 0.1 (2.0) 85.5 3.4 3.3 87.9 3.2 1.2
Materials
2010 Saudi Basic Industries Corp 88.8 146.9 266,400 6.5 (0.9) (5.4) (1.9) (1.0)
1.6 3.4
1211 Saudi Arabian Mining Co 40.8 12.2 50,208 1.3 (1.0) (8.1) (4.0) (1.2)
1.7 -
2020 Saudi Arabian Fertilizer Co 81.4 10.6 33,917 1.3 (0.2) 5.0 19.1 14.6 23.9 4.5 2.5
2290 Yanbu National Petrochemical 58.8 12.8 33,075 1.1 (0.3) 5.2 3.5 3.0 61.6 2.3 4.3
2350 Saudi Kayan Petrochemical Co 10.4 113.6 15,570 0.8 (1.0) (6.5) (7.4) (3.1) - 1.1 -
2002 National Petrochemical Co 29.4 3.8 14,088 0.3 (0.3) 23.6 2.1 0.9 84.7 1.8 1.7
2330 Advanced Petrochemicals Co 57.9 32.0 12,534 1.0 (1.7) 17.2 21.2 15.8 18.9 4.1 4.5
2310 Sahara International Petroch 16.1 43.5 11,792 0.9 (0.2) (10.5) (1.3) (0.7) - 0.9 7.5
2250 Saudi Ind Investment Group 23.0 19.0 10,350 0.8 (1.7) (4.2) (0.1) (0.0)
1.6 4.3
3050 Southern Province Cement Co 65.7 5.3 9,198 0.4 0.5 2.0 17.4 13.8 16.2 2.8 6.8
3030 Saudi Cement 57.2 25.3 8,752 0.7 0.7 (18.4) 18.3 11.3 19.5 3.6 5.2
2060 National Industrialization C 12.4 36.1 8,321 0.7 0.3 (9.1) (26.4) (9.7) - 1.1 -
3040 Qassim Cement/The 72.1 6.7 6,489 0.4 1.5 9.1 24.6 21.5 15.0 3.6 5.5
3060 Yanbu Cement Co 35.1 13.7 5,520 0.4 0.4 (8.1) 8.5 7.4 20.3 1.7 5.7
3020 Yamama Cement Co 25.4 32.0 5,144 0.4 3.2 (1.9) 8.4 5.3 16.9 1.4 2.0
3003 City Cement Co 19.6 12.1 3,708 0.3 1.7 9.5 9.5 9.2 17.3 1.6 -
3010 Arabian Cement 31.2 22.2 3,115 0.3 0.2 (15.4) 6.7 5.2 16.6 1.1 6.4
2170 Alujain Holding 44.0 59.6 3,045
1.6 46.7 34.8 34.0 6.4 1.9 -
3080 Eastern Province Cement Co 34.3 11.0 2,946 0.2 0.4 (4.9) 9.5 8.4 13.5 1.2 4.4
3002 Najran Cement Co 15.6 0.0 2,645 0.2 9.9 30.1 6.2 4.9 21.6 1.3 9.6
3004 Northern Region Cement Co 11.6 44.3 2,084 0.2 2.7 (2.2)
20.2 1.0 4.3
3091 Al Jouf Cement 10.5 63.8 1,504 0.1 2.7 9.9 1.7 1.1 53.2 1.0 -
3001 Hail Cement 15.1 66.7 1,482 0.1 5.6 24.1 9.4 7.6 14.7 1.3 -
3005 Umm Al-Qura Cement Co 26.7 66.6 1,469 0.1 1.7 20.8 16.5 8.1 14.0 2.2 2.2
3090 Tabuk Cement Co 16.2 22.7 1,458 0.1 2.4 2.5 3.4 2.3 35.3 1.2 -
2001 Methanol Chemicals Co 11.2 168.2 1,356 0.1 6.0 34.6 (12.7) (6.8) - 1.4 -
1301 United Wire Factories Compan 34.4 6.3 1,206 0.1 0.0 58.3 6.2 5.5 36.1 2.2 5.8
2240 Zamil Industrial Investment 19.3 0.0 1,156 0.1 (0.6) 6.1 (10.3) (2.1)
1.0 -
1304 Al Yamamah Steel Industries 22.3 41.0 1,131 0.1 (0.6) 17.8 0.6 0.3 306.7 1.8 -
1320 Saudi Steel Pipe Co 22.1 21.2 1,129 0.0 (0.2) 7.1 (12.0) (5.8)
2.3 -
1201 Takween Advanced Industries 10.4 29.7 988 0.0 2.6 30.0 (12.8) (3.8)
1.7 -
2150 National Co For Glass In/The 29.4 20.5 967 0.1 (1.0) 66.5 (6.7) (5.4)
1.7 -
1202 Middle East Paper Co 17.9 20.6 895 0.1 0.3 25.2 2.7 1.2 44.7 1.2 -
3007 Zahrat Al Waha For Trading C 58.2 3.8 873 0.0 (0.9) 23.8 26.6 11.6 15.4 3.8 2.6
1210 Basic Chemical Industries 28.4 20.6 781 0.1 (2.9) 18.4 8.7 6.1 16.7 1.4 -
2210 Nama Chemicals Co 31.1 24.8 730 0.1 (0.8) 31.5
2.6 -
2090 National Gypsum 23.0 7.7 730 0.1 (0.7) 69.7 7.7 7.3 18.7 1.6 1.5
3008 Al Kathiri Holding Co 156.6 14.0 708 0.0 0.3 18.6 22.4 13.3 45.9 9.5 -
2200 Arabian Pipes Co 17.3 18.7 691 0.1 0.1 35.4 (4.6) (1.9)
1.4 2.9
2220 Maadaniyah 22.1 17.0 620 0.0 1.4 44.4 (23.0) (14.3)
2.1 -
2180 Filing & Packing Materials M 49.2 33.4 566 0.0 0.0 70.2 (9.6) (4.6)
4.0 -
2300 Saudi Paper Manufacturing Co 50.6 23.0 466 0.0 0.4 99.2 (28.1) (3.1)
6.0 -
Capital Goods
2040 Saudi Ceramic Co 41.9 16.7 2,514 0.2 (0.4) 15.6 4.7 2.3 38.2 1.8 -
1212 Astra Industrial Group 22.3 5.0 1,784 0.1 (0.4) 45.0 5.4 2.2 28.0 1.4 -
2320 Al Babtain Power & Telecommu 27.4 10.2 1,168 0.1 0.0 1.5 10.2 4.0 14.2 1.5 3.6
2140 Al-Ahsa Development Co. 15.2 24.8 1,121 0.1 0.5 35.2 2.4 1.6 59.0 1.5 -
1302 Bawan Co 18.4 11.1 1,104 0.1 0.1 14.6 6.1 1.7 28.4 1.7 -
1303 Electrical Industries Co 22.1 48.1 993 0.1 2.6 40.9 (7.9) (4.2)
1.8 -
2360 Saudi Vitrified Clay Pipe Co 55.9 2.5 839 0.0 (0.5) 5.9 5.0 4.4 56.5 2.9 1.8
2110 Saudi Cable Co 20.3 73.9 732 0.1 2.8 9.4 (35.3) (5.0) - 2.5 -
2370 Middle East Specialized Cabl 13.7 43.0 546 0.0 3.8 44.4 (2.5) (1.3) - 1.5 -
2160 Saudi Arabian Amiantit Co 15.4 46.1 531 0.0 1.9 0.5 (87.2) (9.9) - 3.1 -
4140 Saudi Industrial Export Co 80.1 38.9 519 0.0 0.6 22.5 (24.6) (20.7) - 12.1 -
Source: Bloomberg, NCBC Research
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
7
Performance and valuation
TASI Close T/O Mkt cap FF Price change TTM (%) Valuation (x) Div yld
Code Company Name (SR) (SR mn) (SR mn) wt(%) % last % YTD ROE ROA P/E P/BV (%)
Commercial & Professional Svc
6004 Saudi Airlines Catering Co 82.3 14.2 6,749 0.4 0.6 (19.9) 9.8 4.3 58.6 6.3 6.8
1831 Maharah Human Resources Co 77.2 13.2 2,895 0.2 0.0 (10.3) 54.6 25.1 10.5 5.5 2.9
4270 Saudi Printing & Packaging C 19.3 38.4 1,156 0.1 0.5 48.4 (2.2) (0.8)
1.6
Transportation
4031 Saudi Ground Services Co 30.5 17.5 5,734 0.2 0.8 (13.1) (1.9) (1.3)
2.1 -
4260 United International Transpo 34.0 11.6 2,416 0.2 (0.7) (7.0) 14.1 11.2 14.9 2.0 2.9
4040 Saudi Public Transport Co 18.2 57.9 2,275 0.2 4.7 1.2 (8.1) (3.2)
1.6 -
2190 Saudi Industrial Services Co 26.6 16.4 2,171 0.2 (0.6) 35.7 8.7 2.8 22.7 1.9 2.3
4110 Batic Investments And Logist 32.4 40.8 971 0.1 0.5 11.0 (1.9) (1.3)
2.7 -
Consumer Durables & Apparel
4012 Alaseel Co 57.0 1.8 1,710 0.1 0.5 30.7 15.8 14.0 20.0 3.4 3.5
2340 Alabdullatif Industrial Inv 14.6 7.3 1,185 0.0 (0.4) 20.7 (3.5) (2.9)
1.1 -
4011 L'Azurde Co For Jewelry 21.9 39.6 943 0.0 (1.9) 29.1 (7.2) (1.5)
2.3 -
4180 Fitaihi Holding Group 16.9 14.8 928 0.1 (0.6) 46.8 (6.9) (6.4)
1.6 -
2130 Saudi Industrial Development 12.1 24.8 485 0.0 1.0 47.8 (17.2) (12.9)
2.3 -
1213 Naseej International Trading 19.7 26.0 351 0.0 (1.0) 15.2 (82.4) (11.7)
3.5 -
Consumer Services
1810 Seera Group Holding 18.8 99.4 5,634.0 0.4 0.6 (14.2) 16.2 12.0 5.6 0.8 -
1830 Leejam Sports Co Jsc 70.2 12.5 3,677.3 0.1 0.3 (13.4) 4.9 1.3 115.7 5.8 2.8
6002 Herfy Food Services Co 53.4 0.7 3,453.9 0.1 0.2 (0.6) 10.5 4.9 35.2 3.8 4.1
4010 Dur Hospitality Co 29.5 12.1 2,945.0 0.2 1.2 25.9 2.4 1.2 72.8 1.7 1.7
4291 National Co For Learning & E 48.6 6.5 2,089.8 0.1 (0.4) 69.9 10.6 8.2 38.9 3.5 1.6
4292 Ataa Educational Co 39.9 27.6 1,596.0 0.1 (1.8) 35.0 11.7 7.3 19.0 2.2 2.5
4290 Al Khaleej Training And Educ 24.7 38.8 1,111.5 0.1 0.2 78.0 11.4 4.2 17.2 1.9 1.0
1820 Abdul Mohsen Al-Hokair Touri 16.7 18.1 920.7 0.1 (1.3) 5.8 (21.6) (3.6)
2.1 -
6012 Raydan Food Co 24.5 31.7 551.3 0.0 (1.4) 39.2 (8.9) (5.7)
2.2 -
Media
4210 Saudi Research And Marketing 72.0 33.6 5,760.0 0.5 (0.3) (7.3) 17.8 3.7 26.1 4.4 -
4070 Tihama Advertising & Public 55.3 471.5 867.8 0.1 9.9 153.3 (51.5) (12.5) - 18.2 -
Retailing
4190 Jarir Marketing Co 184.2 46.8 22,104 1.6 1.2 11.2 65.8 26.0 21.2 13.5 3.7
4240 Fawaz Abdulaziz Alhokair & C 22.2 13.0 4,662 0.2 (1.0) (13.3) (73.5) (13.7) - 4.1 -
4003 United Electronics Co 70.3 25.1 4,218 0.3 0.7 12.6 33.5 8.5 18.0 5.8 2.8
4050 Sasco 32.5 10.6 1,950 0.1 1.9 10.4 16.0 5.0 16.2 2.4 3.1
4008 Saudi Co For Hardware Llc 50.2 17.7 1,807 0.1 0.0 (3.6) 11.5 4.1 27.5 3.1 2.0
1214 Al-Hassan G.I. Shaker Co 15.0 28.2 945 0.1 (0.4) 37.9 (1.5) (0.6) - 1.5 -
4191 Abdullah Saad Mohammed Abo M 31.8 24.7 636 0.0 0.0 65.8 6.3 4.2 39.7 2.7 1.6
Food & Staples Retailing
4001 Abdullah Al Othaim Markets 128.2 17.1 11,538 0.9 (3.0) 57.3 29.8 9.1 25.6 7.3 4.7
4006 Saudi Marketing Co 29.4 106.7 1,323 0.0 (1.7) 84.0 6.2 1.5 36.3 2.2 -
4061 Anaam International Holding 266.0 0.0 399 0.0 2.0 60.3
- 25.5 -
4160 Thimar 17.2 0.0 172
0.0 0.0 (10.0) (6.2) - 1.6 -
Food & Beverages
2280 Almarai Co 54.0 21.4 54,000 2.0 0.4 9.1 13.4 5.8 27.6 3.7 1.6
2050 Savola 49.6 11.5 26,459 2.0 (0.7) 44.3 12.6 3.5 28.2 3.4 0.6
2270 Saudia Dairy & Foodstuff Co 180.0 3.0 5,850 0.3 (0.8) 25.9 20.0 12.9 20.7 4.0 2.8
6010 The National Agriculture Dev 32.2 14.3 3,273 0.2 (0.2) 40.0 9.2 3.4 23.5 2.1 -
6050 Saudi Fisheries 54.0 1,101.7 2,160 0.1 5.9 131.3 (19.3) (10.5)
6.6 -
6001 Halwani Bros Co 68.1 4.7 2,140 0.1 (1.2) 94.0 12.0 5.7 37.5 4.4 1.5
6070 Al Jouf Agriculture Developm 40.4 56.0 1,212 0.1 2.9 80.4 (1.6) (1.2) - 1.9 2.5
6040 Tabuk Agricultural Developme 37.9 184.4 916 0.1 (0.1) 118.9 (31.8) (19.6)
3.4 -
6090 Jazan Energy And Development 16.1 0.0 804 0.1 0.0 37.4 (0.1) (0.1) - 1.5 -
6060 Ash-Sharqiyah Development Co 88.7 84.3 665 0.1 0.8 72.6 (37.7) (30.6) - 4.6 -
2100 Wafrah For Industry And Deve 83.5 149.0 644 0.1 3.2 133.8 (27.6) (13.5)
21.7 -
6020 Al Gassim Investment Holding 20.7 0.0 620 0.1 2.3 85.5 (7.7) (5.1)
2.1 -
Health Care Equipment & Svc
4013 Dr Sulaiman Al Habib Medical 94.3 21.1 33,005 0.7 (0.2)
20.7 10.8 36.4 7.1 0.4
4002 Mouwasat Medical Services Co 126.4 18.0 12,640 0.7 2.6 43.6 24.1 13.7 28.2 6.4 1.6
4004 Dallah Healthcare Co 46.6 10.0 4,194 0.1 (0.3) 19.5 8.3 4.2 32.5 2.7 2.5
4007 Al Hammadi Co For Developmen 27.9 14.4 3,342 0.2 1.3 32.4 7.2 4.3 29.3 2.0 -
4009 Middle East Healthcare Co 36.0 30.8 3,313 0.1 (1.6) 21.2 7.1 3.3 30.6 2.1 -
2230 Saudi Chemical Co Holding 31.4 39.8 2,648 0.2 (0.5) 30.9 2.5 0.9 59.4 1.6
4005 National Medical Care Co 55.7 14.2 2,498 0.1 (2.3) 14.6 9.5 7.0 26.3 2.5 3.6
Pharma, Biotech & Life Science
2070 Saudi Pharmaceutical Industr 33.8 34.8 4,056 0.3 (2.0) 24.0 (8.1) (3.3)
2.3 1.5
Source: Bloomberg, NCBC Research
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
8
Performance and valuation
TASI Close T/O Mkt cap FF Price change TTM (%) Valuation (x) Div yld
Code Company Name (SR) (SR mn) (SR mn) wt(%) % last % YTD ROE ROA P/E P/BV (%)
Banks
1120 Al Rajhi Bank 66.8 139.3 167,000 12.6 0.3 2.1 19.3 2.5 17.1 3.2 4.5
1180 National Commercial Bank 37.3 51.6 111,900 4.1 (0.5) (24.3) 17.0 2.1 10.8 1.8 -
1010 Riyad Bank 18.9 23.2 56,700 2.9 (0.7) (21.3) 12.9 1.9 11.1 1.4 5.8
1090 Samba Financial Group 27.0 15.0 54,000 2.5 (1.5) (16.8) 9.3 1.6 12.5 1.2 5.2
1060 Saudi British Bank 25.3 22.8 51,986 2.8 0.6 (27.1) (7.4) (1.4) - 1.1 4.7
1050 Banque Saudi Fransi 32.0 6.2 38,571 2.9 (1.5) (15.6) 7.6 1.3 15.3 1.1 6.3
1150 Alinma Bank 16.1 216.6 32,240 2.4 (0.9) (15.2) 9.7 1.6 14.7 1.4 -
1080 Arab National Bank 20.0 9.9 30,030 1.3 (1.1) (26.9) 8.9 1.4 12.1 1.1 5.0
1140 Bank Albilad 24.1 0.0 18,105 1.2 (0.3) (10.3) 13.3 1.5 14.5 1.8 4.1
1030 Saudi Investment Bank/The 15.8 0.2 11,850 0.5 (0.4) (12.4) 4.5 0.6 20.1 0.9 -
1020 Bank Al-Jazira 13.9 62.1 11,365 0.9 (0.6) (7.8) 7.4 1.0 13.4 1.0 4.3
1182 Amlak International For Real 23.6 20.2 2,142 - 0.5 - - - - 1.9 3.2
Diversified Financials
4280 Kingdom Holding Co 8.5 20.3 31,500 0.1 3.0 12.6 (3.7) (2.3) - 1.1 5.9
4080 Aseer Trading Tourism & Manu 13.7 17.4 1,737 0.1 (0.1) 51.3 (4.0) (1.8) - 1.3 -
2120 Saudi Advanced Industries 17.2 17.5 861 0.1 0.0 25.1 2.6 2.6 40.9 1.1 1.5
4130 Al-Baha Development & Invest 36.0 174.5 637 0.0 5.1 109.1 (3.0) (1.4) - 4.7 -
Insurance
8210 Bupa Arabia For Cooperative 122.0 8.1 14,640 0.7 0.0 19.1 25.4 8.7 17.8 4.1 -
8010 Co For Cooperative Insurance 82.1 10.7 10,263 0.5 (0.7) 7.0 21.7 4.1 20.5 4.1 -
8230 Al Rajhi Co For Co-Operative 76.0 23.6 3,040 0.2 (0.9) 19.7 14.3 3.7 26.0 3.5 -
8030 Mediterranean & Gulf Insuran 25.3 150.4 2,024 0.1 3.0 58.3 0.6 0.1 540.0 2.9 -
8250 Axa Cooperative Insurance 37.7 22.6 1,885 0.1 1.1 41.7 13.8 3.5 20.3 2.5 1.9
8040 Allianz Saudi Fransi Coopera 21.8 80.8 1,306 0.0 3.2 36.4 2.7 0.5 94.3 2.5 -
8280 Al Alamiya Cooperative Insur 23.9 61.9 954 0.0 2.5 28.4 2.7 1.3 88.8 2.3 -
8020 Malath Insurance 18.7 120.8 935 0.1 2.0 85.9 0.4 0.1 589.5 2.0 -
8270 Buruj Cooperative Insurance 28.0 96.5 839 0.0 9.8 45.4 (6.1) (2.8) - 2.1 -
8012 Aljazira Takaful Ta'Awuni Co 22.7 93.3 794 0.0 2.8 27.8 10.0 4.0 18.7 1.8 -
8310 Amana Cooperative Insurance 30.0 392.2 720 0.1 2.2 148.8 - - - 4.5 -
8060 Walaa Cooperative Insurance 21.6 46.4 1,398 0.1 2.2 29.5 (0.8) (0.2) - 1.8 -
8240 Chubb Arabia Cooperative Ins 32.9 51.3 658 0.0 3.8 41.8 7.7 4.1 27.2 2.0 1.5
8312 Alinma Tokio Marine 20.1 100.5 602 0.0 3.0 60.9 (8.9) (8.0) - 2.9 -
8200 Saudi Re For Cooperative Rei 12.8 0.0 1,034 0.1 3.6 37.2 3.6 1.1 33.1 1.2 -
8150 Allied Cooperative Insurance 41.0 88.4 578 0.0 5.1 53.8 4.2 4.0 86.6 3.8 -
8130 Alahli Takaful Co 33.6 79.2 559 0.0 1.7 32.9 2.9 0.8 79.8 2.3 -
8311 Saudi Enaya Cooperative Insu 33.0 85.1 495 0.0 0.9 38.7 (42.3) (28.1) - 3.6 -
8160 Arabia Insurance Cooperative 18.0 56.3 477 0.0 2.3 1.6 (16.2) (5.5) - 2.2 -
8170 Al-Etihad Cooperative Insura 21.4 48.7 856 0.1 6.0 45.6 11.5 4.0 16.0 1.8 -
8080 Sabb Takaful 26.3 57.6 894 0.0 4.2 59.4 (11.1) (4.2) - 2.9 -
8260 Gulf General Cooperative Ins 18.9 35.6 378 0.0 5.0 53.7 3.6 3.3 62.5 2.2 -
8070 Arabian Shield Cooperative 22.9 36.4 688 0.1 (0.1) 32.4 2.8 1.0 57.6 1.6 -
8300 Wataniya Insurance Co 58.4 66.2 1,168 0.1 10.0 219.1 1.8 0.3 260.4 4.7 -
8180 Al Sagr Co-Operative Insuran 15.0 0.0 598 0.0 10.0 48.4 (26.3) (10.3) - 1.8 -
8190 United Co-Operative Assuranc 14.7 91.7 590 0.0 6.8 61.8 (0.2) (0.2) - 1.6 -
8120 Gulf Union Cooperative Insur 19.0 0.0 285 0.0 7.0 47.3 6.8 6.4 29.6 1.9 -
8050 Salama Cooperative Insurance 20.5 86.2 512 0.0 4.9 70.7 (1.4) (1.2) - 2.5 -
8100 Saudi Arabian Coop Ins Co 17.6 44.7 528 0.0 2.6 47.2 2.8 2.7 57.7 1.6 -
8290 Solidarity Saudi Takaful Co 17.2 64.1 431 0.0 7.2 39.0 (19.7) (11.0) - 2.2 -
8140 Al-Ahlia Cooperative Insuran 14.8 5.6 182 0.0 10.0 31.3 (4.0) (1.8) - 2.5 -
8110 Wafa Insurance 9.5 0.0 95 - 0.0 0.0 - (396.5) - - -
Software & Services
7200 Al Moammar Information Syste 64.7 11.3 1,294 0.1 0.3 82.2 34.9 8.3 13.9 5.1 1.5
7201 Arab Sea Information Systems 67.3 21.4 673 0.0 0.1 206.2 12.5 11.4 38.8 4.5 -
Telecommunication Services
7010 Saudi Telecom Co 100.0 132.1 200,000 4.9 (0.6) (1.8) 17.1 9.4 18.7 3.2 4.0
7020 Etihad Etisalat Co 27.9 42.7 21,445 1.5 (0.4) 11.4 1.7 0.6 87.6 1.5 -
7030 Mobile Telecommunications Co 12.4 102.1 7,262 0.3 2.5 6.0 9.7 1.4 18.7 1.7 -
7040 Etihad Atheeb Telecommunicat 11.1 0.0 253 - 0.0 0.0 (31.6) (3.1) - 1.8 -
Utilities
5110 Saudi Electricity Co 16.5 76.7 68,749 1.4 (0.6) (18.4) (1.7) (0.3) - 1.0 4.2
2080 National Gas & Industrializa 30.5 6.7 2,288 0.2 0.2 (1.3) 2.2 1.6 61.0 1.5 - Source: Bloomberg, NCBC Research
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
9
Performance and valuation
TASI Close T/O Mkt cap FF Price change TTM (%) Valuation (x) Div yld
Code Company Name (SR) (SR mn) (SR mn) wt(%) % last % YTD ROE ROA P/E P/BV (%)
REITs
4342 Jadwa Reit Saudi Fund 13.3 0.9 2,105 0.2 (0.6) 18.9 - - 27.5 1.4 5.4
4340 Al Rajhi Reit 9.6 3.7 1,546 0.1 0.1 (1.1) - - 25.5 1.0 5.9
4347 Bonyan Reit 9.0 0.4 1,466 0.0 1.4 (8.5) - - 16.6 1.0 2.7
4330 Riyad Reit Fund 8.2 2.6 1,408 0.1 0.0 (5.9) 4.3 3.4 19.9 0.9 4.9
4338 Alahli Reit Fund 1 9.2 1.0 1,258 0.0 (0.5) (3.7) - - 31.1 0.9 2.7
4339 Derayah Reit 10.0 2.7 1,079 0.1 0.2 (4.4) - - - 1.0 3.6
4345 Swicorp Wabel Reit 7.4 3.1 868 0.0 (0.5) (10.5) - - 14.6 0.8 5.8
4335 Musharaka Reit Fund 9.1 17.0 801 0.1 1.7 (4.1) 4.6 3.4 19.8 0.9 3.8
4333 Taleem Reit 12.9 1.4 659 0.0 0.3 3.5 7.0 6.9 17.9 1.2 4.9
4348 Alkhabeer Reit 9.8 5.3 648 0.0 0.8 (10.6) - - - - 8.2
4336 Mulkia Gulf Real Estate Reit 9.0 0.9 613 0.0 0.1 (8.6) 4.9 3.5 18.9 0.9 1.1
4344 Sedco Capital Reit Fund 9.3 0.5 560 0.0 1.2 (6.2) - - - 1.0 6.5
4346 Mefic Reit 7.4 9.3 544 0.0 0.4 (5.4) - - 19.5 0.7 6.7
4332 Jadwa Reit Alharamain Fund 7.7 5.8 506 0.0 0.1 (6.4) 3.0 2.3 26.6 0.8 5.2
4334 Al Maather Reit Fund 8.2 3.4 503 0.0 0.9 (6.5) - - 23.5 0.8 7.6
4337 Al Mashaar Reit 7.9 0.8 449 0.0 0.1 (3.2) 4.2 4.2 18.4 0.8 2.5
4331 Al-Jazira Riet Fund 22.0 33.1 260 0.0 6.3 76.3 (0.2) (0.2) - 2.4 -
Real Estate Mgmt & Dev't
4250 Jabal Omar Development Co 35.8 86.8 33,226 2.7 0.4 31.7 (12.2) (3.8) - 3.9 -
4321 Arabian Centres Co Ltd 26.3 16.8 12,469 0.4 (0.4) (9.9) 9.3 3.2 21.9 2.0 1.9
4100 Makkah Construction & Devepl 66.2 62.2 10,911 0.9 0.3 (13.4) 6.0 5.4 37.5 2.6 2.3
4300 Dar Al Arkan Real Estate Dev 8.9 322.1 9,601 0.8 (0.1) (19.2) 1.2 0.8 43.6 0.5 -
4220 Emaar Economic City 10.0 24.9 8,534 0.4 (0.4) 5.1 (12.5) (5.1) - 1.3 -
4090 Taiba Investments Co 30.9 7.6 4,950 0.4 (0.2) (1.0) 5.9 5.4 22.8 1.3 6.5
4310 Knowledge Economic City 12.7 11.7 4,309 0.1 (0.5) 27.8 (0.4) (0.4) - 1.4 -
4020 Saudi Real Estate Co 14.2 27.5 3,403 0.1 (0.6) 4.0 (7.6) (3.2) - 1.2 -
4150 Arriyadh Development Company 16.4 7.0 2,916 0.2 (0.2) 9.3 8.1 6.8 18.1 1.5 6.1
4320 Alandalus Property Co 18.6 43.7 1,299 0.1 3.9 18.8 5.0 3.4 37.2 1.2 5.4
4230 Red Sea International Co 17.3 9.8 1,037 0.0 (0.7) 23.4 (12.7) (6.8) - 1.8 -
Parallel Market (NOMU)
9512 Saudi White Cement Co 28.6 0.0 3,426 - (1.6) - - - - 2.0 2.6
9510 National Building And Market 309.0 0.0 1,854 - 0.8 10.8 4.8 3.4 293.2 13.8 -
9511 Sumou Real Estate Co 57.8 9.3 1,445 - (1.7) - - - - - 0.2
9504 Al Samaani Factory For Metal 160.0 0.0 400 - 10.3 97.8 (5.5) (4.6) - 12.2 0.2
9501 Development Works Food Co 142.0 29.7 355 - 4.1 80.0 24.1 7.7 27.5 4.6 - Source: Bloomberg, NCBC Research
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
10
Dubai Market recap: The DFM benchmark index declined 1.5%, closing at 2,252.3 points. Emaar Development was
down 3.2%.
DFM intraday
DFM 1-year movement and turnover
2225
2230
2235
2240
2245
2250
2255
2260
2265
2270
2275
2280
9:00 9:30 10:00 10:30 11:00 11:30 12:00 12:30
1000
1500
2000
2500
3000
-
200
400
600
800
1,000
1,200
1,400
1,600
Sep-20Jun-20Apr-20Jan-20Oct-19
Turnover (RHS) Dubai
Source: Bloomberg, NCBC Research
Source: Bloomberg, NCBC Research
Top gainers Top losers Most active
Company Close %Chg T/O Company Close %Chg T/O Company Close %Chg T/O
Dar Al Takaful 1.0 (5.0) 0.3
Arabtec Holding 0.6 (4.9) 5.8
Dubai Islamic Insurance 1.1 (4.3) 5.1
Gulf Navigation Holding 0.4 (4.0) 0.1
Emaar Development 2.4 (3.2) 2.2
Emaar Properties 2.9 (2.4) 15.1
Emirates NBD 10.5 (1.4) 9.5
Arabtec Holding 0.6 (4.9) 5.8
Dubai Islamic Insurance 1.1 (4.3) 5.1
Dubai Islamic Bank 4.3 (0.7) 4.7
Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research
All Close values are in AED unless specified otherwise, T/O in $ million
Performance and valuation of market heavyweights
Close T/O MCap Price change TTM (%) Valuation (x) DY
Company (AED) ($mn) ($mn) %Last %MTD %YTD ROE ROA P/BV P/E TTM (%)
Emirates NBD 10.5 9.51 17,986 (1.4) (3.2) (19.6) 16.0 1.8 0.9 5.9 3.8
Commercial Bk Of Dubai 3.8 0.00 10,650 0.0 5.6 (5.0) 12.5 1.4 1.0 8.6 5.4
Emaar Development 2.4 2.19 9,560 (3.2) 5.8 (39.0)
0.9
Dubai Islamic Bank 4.3 4.73 8,425 (0.7) 4.1 (22.5) 15.0 1.7 1.1 7.4 8.2
DU 5.3 0.03 6,484 (0.8) 0.0 (4.9) 16.6 9.0 2.9 17.1 6.5
Emaar Properties 2.9 15.13 5,560 (2.4) (1.0) (29.1) 9.6 4.3 0.4 4.0
Emaar Malls 1.5 1.51 5,213 (1.3) 5.8 (19.7)
1.0
Mashreq Bank 62.8 0.00 3,035 0.0 (6.2) (10.7) 6.6 0.9 0.5 8.1 6.4
Dubai Financial Market 0.8 0.36 1,833 (1.6) (3.0) (13.3) 1.7 1.4 0.9 49.1 3.0
Tabreed 2.2 0.19 1,598 (0.9) 0.9 12.5 10.5 4.7 1.2 11.8 4.9
Source: Bloomberg, NCBC Research
Top 5 stocks rising for 3 consecutive days
Top 5 stocks losing for 3 consecutive days
22-Sep 23-Sep 24-Sep 24-Aug
22-Sep 23-Sep 24-Sep 24-Aug
Gulf Navigation Holding 0.46 0.45 0.43 0.50
Shuaa Capital 0.65 0.65 0.65 0.63
.
Source: Bloomberg, NCBC Research
.
Source: Bloomberg, NCBC Research
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
11
Abu Dhabi
Market recap: The Abu Dhabi index declined 0.5%, closing at 4,466.8 points. Etisalat was up 0.4%. AD National
Energy was down 2.1%.
ADX intraday
ADX 1-year movement and turnover
4450
4455
4460
4465
4470
4475
4480
4485
4490
9:00 9:30 10:00 10:30 11:00 11:30 12:00 12:30
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
-
100
200
300
400
500
600
700
800
900
1,000
Sep-20Jun-20Apr-20Jan-20Oct-19
ADI Turnover (RHS)
Source: Bloomberg, NCBC Research
Source: Bloomberg, NCBC Research
Top gainers Top losers Most active
Company Close %Chg T/O Company Close %Chg T/O Company Close %Chg T/O
Agthia Group 3.6 1.7 0.5
RAK Cement 0.8 1.5 0.2
RAK Properties 0.4 0.8 0.3
Etisalat 16.6 0.4 2.8
RAK Bank 3.6 0.3 0.5
Eshraq Properties 0.3 (5.0) 1.5
Gulf Cement 0.4 (4.9) 0.0
AD National Hotels 2.6 (4.8) 0.0
Methaq Takaful Ins 0.7 (4.4) 0.1
AD National Insurance 3.8 (2.6) 0.0
Intl Holdings 37.8 (0.3) 19.7
First Abu Dhabi Bank 11.1 (0.9) 18.9
Aldar Properties 2.0 (1.5) 15.0
AD Commercial Bank 5.5 (0.4) 11.3
Abu Dhabi National Oil 3.4 0.0 8.5
Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research
All Close values are in AED unless specified otherwise, T/O in $ million
Performance and valuation of market heavyweights
Close T/O MCap Price change TTM (%) Valuation (x) DY
Company (AED) ($mn) ($mn) %Last %MTD %YTD ROE ROA P/BV P/E TTM (%)
AD National Energy 1.4 1.33 41,971 (2.1) (6.8) 163.0 (62.5) (2.0) 4.9
Etisalat 16.6 2.81 39,337 0.4 0.2 1.5 19.4 7.2 3.2 16.5 4.8
First Abu Dhabi Bank 11.1 18.87 33,028 (0.9) (3.1) (26.8) 11.6 1.3 1.4 11.5 6.7
Intl Holdings 37.8 19.73 18,750 (0.3) (0.3) 509.4 44.8 20.4 14.7 44.4
Abu Dhabi National Oil 3.4 8.50 11,649 (1.4) 6.9 15.5 53.3 13.9 12.4 21.8 5.6
AD Commercial Bank 5.5 11.34 10,427 (0.4) (0.7) (30.6) 7.7 0.9 0.8 10.4 6.9
Aldar Properties 2.0 15.00 4,285 (1.5) (1.5) (7.4) 7.2 4.5 0.6 9.0 7.2
AD Islamic Bank 4.1 2.34 4,077 0.2 3.0 (23.6) 12.4 1.6 1.1 9.0 6.6
National Bank Of Fujairah 5.0 N.A. 2,598 0.0 0.0 3.3 4.7 0.6 1.9 52.8 2.0
RAK Bank 3.6 0.51 1,621 0.3 1.7 (25.3) 11.5 1.5 0.8 7.1 8.5
Source: Bloomberg, NCBC Research
Top 5 stocks rising for 3 consecutive days
Top 5 stocks losing for 3 consecutive days
22-Sep 23-Sep 24-Sep 24-Aug
22-Sep 23-Sep 24-Sep 24-Aug
Eshraq Investments 0.36 0.34 0.32 0.41
Methaq Takaful Insurance 0.74 0.72 0.69 0.61
.
Source: Bloomberg, NCBC Research
.
Source: Bloomberg, NCBC Research
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
12
Kuwait
Market recap: The Kuwait Main Market benchmark declined 0.3%, closing at 6,221.6 points. Warba Bank was up
1.6%. Burgan Bank was down 1.9%.
KSE intraday
KSE 1-year movement and turnover
6180
6190
6200
6210
6220
6230
6240
6250
6260
8:50 9:20 9:50 10:20 10:50 11:20 11:50 12:20
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
-
10
20
30
40
50
60
70
80
90
100
Sep-20Jun-20Mar-20Dec-19Oct-19
('0
00s
)
Turnover (RHS) KWSE
Source: Bloomberg, NCBC Research
Source: Bloomberg, NCBC Research
Top gainers Top losers Most active
Company Close %Chg T/O Company Close %Chg T/O Company Close %Chg T/O
Boursa Kuwait 1.18 3.7 5.52
Warba Bank 0.25 1.6 8.79
Burgan Bank 0.21 (1.9) 2.72
Qurain Petrochemical 0.28 (1.1) 0.45
Kuwait Int'l Bank 0.20 (1.0) 8.92
Humansoft Holding 2.68 (1.0) 1.01
Mezzan Holding 0.62 (1.0) 0.47
Kuwait Finance House 0.69 (0.1) 41.55
Zain Kuwait 0.59 (0.2) 10.63
Ahli United Bank 0.24 (0.4) 9.46
Gulf Bank 0.23 (0.4) 9.07
Kuwait Int'l Bank 0.20 (1.0) 8.92
Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research
All Close values are in KWD unless specified otherwise, T/O in $ million
Performance and valuation of market heavyweights
Close T/O MCap Price change TTM (%) Valuation (x) DY
Company (KWD) ($mn) ($mn) %Last %MTD %YTD ROE ROA P/BV P/E TTM (%)
Kuwait Finance House 0.69 47.58 18,457 (0.1) 10.7 (6.0) 10.7 1.0 2.9 26.8 2.6
Ahli United Bank 0.24 10.83 8,263 (0.4) 4.7 (16.9) 17.0 1.9 1.8 11.1 5.8
Boubyan Bank 0.60 2.82 6,417 0.0 4.5 (1.1) 8.8 0.9 3.7 40.4 1.4
Agility 0.68 10.09 4,552 0.0 8.7 (4.7) 5.7 2.9 1.4 22.0 0.6
Gulf Bank 0.23 10.39 2,339 (0.4) 8.0 (24.1) 8.4 0.9 1.1 12.6 4.8
Burgan Bank 0.21 3.11 1,920 (1.9) 5.6 (31.3) 5.5 0.9 0.8 13.7 5.7
Warba Bank 0.25 10.07 1,371 1.6 24.6 (5.3) (5.1) (0.2) 2.1
Shamal Az-Zour 0.34 8.15 1,293 0.0 4.7
15.1 2.3 4.8 30.0
Humansoft Holding 2.68 1.16 1,151 (1.0) 6.1 (10.9) 35.2 22.0 3.7 12.4
Kuwait Projects 0.16 2.11 1,088 (0.6) 6.0 (26.9) 6.9 0.3 1.3 19.5 6.3
Source: Bloomberg, NCBC Research
Top 5 stocks rising for 3 consecutive days
Top 5 stocks losing for 3 consecutive days
22-Sep 23-Sep 24-Sep 24-Aug
Boursa Kuwait 1.12 1.14 1.18
22-Sep 23-Sep 24-Sep 24-Aug
Humansoft Holding 2.78 2.71 2.68 2.57
.
Source: Bloomberg, NCBC Research
.
Source: Bloomberg, NCBC Research
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
13
Qatar
Market recap: The Qatari bourse benchmark remained flat, closing at 9,788.3 points. Ooredoo was up 7.0%.
Masraf Al Rayan was down 1.2%.
DSM20 intraday
DSM20 1-year movement and turnover
9650
9700
9750
9800
9850
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00
6,000
7,000
8,000
9,000
10,000
11,000
50 150 250 350 450 550 650 750 850 950
Sep-20Jun-20Mar-20Dec-19Oct-19Turnover (RHS) DSM 20
Source: Bloomberg, NCBC Research
Source: Bloomberg, NCBC Research
Top gainers Top losers Most active
Company Close %Chg T/O Company Close %Chg T/O Company Close %Chg T/O
Ooredoo 7.1 7.0 55.3
Vodafone 1.3 6.8 8.0
Qatar Insurance 2.1 3.0 1.3
Ezdan Holding 1.9 2.4 15.2
Barwa 3.4 1.6 5.6
United Development 1.9 (2.6) 0.0
Mesaieed Petrochemical 2.1 (1.4) 1.8
Masraf Al Rayan 4.1 (1.2) 2.8
QEWC 16.6 (1.0) 3.9
QNB 17.4 (0.9) 14.9
Qatar Islamic Bank 16.0 (0.3) 79.6
Ooredoo 7.1 7.0 55.3
Ezdan Holding 1.9 2.4 15.2
QNB 17.4 (0.9) 14.9
Vodafone 1.3 6.8 8.0
Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research
All Close values are in QAR unless specified otherwise, T/O in $ million
Performance and valuation of market heavyweights
Close T/O MCap Price change TTM (%) Valuation (x) DY
Company (QAR) ($mn) ($mn) %Last %MTD %YTD ROE ROA P/BV P/E TTM (%)
QNB 17.4 14.86 44,025 (0.9) (3.6) (15.7) 17.2 1.4 2.3 13.8 3.5
Industries Qatar 10.0 0.73 16,554 0.4 1.0 (3.1) 4.9 4.4 1.9 38.2 4.0
Qatar Islamic Bank 16.0 79.53 10,354 (0.3) (0.3) 4.0 17.6 1.9 2.2 13.3 3.3
Masraf Al Rayan 4.1 2.84 8,427 (1.2) (1.9) 3.3 16.7 2.1 2.3 14.0 5.5
Ooredoo 7.1 55.26 6,266 7.0 7.9 0.6 7.6 2.0 1.0 13.6 3.5
QEWC 16.6 3.94 5,016 (1.0) (3.5) 3.2 16.2 8.9 2.1 12.6 4.7
Commercial Bank 3.9 2.89 4,370 0.0 (5.4) (16.4) 10.2 1.4 0.9 9.0 5.1
Nakilat 2.6 4.24 3,973 (0.8) (4.2) 9.2 17.4 3.4 2.4 13.5 3.8
Barwa 3.4 5.55 3,629 1.6 (0.5) (4.1) 8.2 5.0 0.7 8.3 5.9
Qatar Int'l Islamic 8.2 1.73 3,418 0.0 (4.0) (15.1) 15.3 1.7 2.1 14.1 5.2
Source: Bloomberg, NCBC Research
Top 5 stocks rising for 3 consecutive days
Top 5 stocks losing for 3 consecutive days
22-Sep 23-Sep 24-Sep 24-Aug
Ooredoo 6.5 6.7 7.1 6.7
22-Sep 23-Sep 24-Sep 24-Aug
QNB 17.7 17.5 17.4 18.3
Qatar Islamic Bank 16.1 16.0 16.0 16.1
.
Source: Bloomberg, NCBC Research
.
Source: Bloomberg, NCBC Research
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
14
Egypt
Market recap: The EGX30 benchmark declined 0.6%, closing at 10,911.4 points. Eastern Tobacco was up 0.7%. T
M G Holding was down 2.6%.
TASI intraday
TASI 1-year movement and turnover
10850
10860
10870
10880
10890
10900
10910
10920
10930
10940
10950
10960
11:00 11:30 12:00 12:30 13:00 13:30 14:00 14:30
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
-
200
400
600
800
1,000
1,200
1,400
1,600
Sep-20Jun-20Mar-20Dec-19Sep-19
Turnover (RHS) EGX 30
Source: Bloomberg, NCBC Research
Source: Bloomberg, NCBC Research
Top gainers Top losers Most active
Company Close %Chg T/O Company Close %Chg T/O Company Close %Chg T/O
Sidi Kerir 8.9 1.7 0.0
Dice Sport 1.7 1.7 8.4
Ezz Steel 8.1 1.0 0.0
Eastern Tobacco 11.9 0.7 0.6
Beltone 2.8 (3.8) 2.4
Egyptian Iron & Steel 3.2 (2.8) 0.0
Orascom Investment 0.5 (2.8) 0.0
Ghabbour Auto 2.5 (2.7) 0.0
T M G Holding 6.1 (2.6) 1.0
Beltone 2.8 (3.8) 2.4
Elswedy Electric 6.8 (1.7) 2.0
Edita Food 9.6 (0.5) 1.5
T M G Holding 6.1 (2.6) 1.0
Egypt Kuwait Holding 1.1 (0.1) 0.1
Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research
All Close values are in EGP unless specified otherwise, T/O in $ million
Performance and valuation of market heavyweights
Close T/O MCap Price change TTM (%) Valuation (x) DY
Company (EGP) ($mn) ($mn) %Last %MTD %YTD ROE ROA P/BV P/E TTM (%)
CIB 67.0 3.56 5,788 (0.1) (0.9) (19.3) 21.5 3.0 1.9 9.5 1.9
Eastern Tobacco 11.9 0.23 1,568 0.7 (6.8) (23.9) 34.9 19.3 2.5 7.6 19.7
Telecom Egypt 11.6 0.72 1,161 (1.8) (14.2) 14.9 10.1 6.2 0.5 5.6 2.2
Elswedy Electric 6.8 0.78 870 (1.7) (9.9) (41.1) 20.6 5.9 1.0 4.8 11.8
T M G Holding 6.1 0.36 740 (2.6) (11.7) (25.3) 5.7 1.7 0.4 7.1 0.7
Emaar Misr 2.4 0.12 629 (1.7) (7.1) (19.2) 13.4 5.3 0.6 5.4
Credit Agricole Egypt 25.6 0.02 468 (0.9) 3.3 (41.4) 28.3 3.4 1.2 4.5 13.4
Cleopatra Hospital 5.0 0.59 468 (0.6) (1.0) (17.6) 12.7 10.9 4.2 39.9
Heliopolis Housing 5.7 0.48 445 (0.9) (13.3) (28.0) 86.4 16.3 1.6 10.8 0.3
Cairo Inv. 12.9 0.00 444 (0.5) (0.5) (6.8) 23.6 15.4 7.1 31.6 0.3
Source: Bloomberg, NCBC Research
Top 5 stocks rising for 3 consecutive days
Top 5 stocks losing for 3 consecutive days
22-Sep 23-Sep 24-Sep 24-Aug
Ezz Steel 7.6 8.0 8.1 7.5
Sidi Kerir 8.6 8.8 8.9 7.7
22-Sep 23-Sep 24-Sep 24-Aug
Orascom Dev 4.0 4.0 3.9 4.6
Ibnsina Pharma 7.3 7.2 7.0 7.8
Credit Agricole Egypt 25.9 25.8 25.6 25.8
Cairo Inv. 13.0 13.0 12.9 12.9
.
Source: Bloomberg, NCBC Research
.
Source: Bloomberg, NCBC Research
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
15
Oman
Market recap: The MSM30 benchmark index gained 0.1%, closing at 3,627.0 points. Nat'l Bk Of Oman was up
1.8%. HSBC was down 1.1%.
TASI intraday
TASI 1-year movement and turnover
3618
3620
3622
3624
3626
3628
9:00 9:30 10:00 10:30 11:00 11:30
-
1,000
2,000
3,000
4,000
5,000
-
2,500
5,000
7,500
10,000
12,500
15,000
17,500
20,000
Sep-20Jun-20Mar-20Dec-19Oct-19
Turnover (RHS) MSM 30
Source: Bloomberg, NCBC Research
Source: Bloomberg, NCBC Research
Top gainers Top losers Most active
Company Close %Chg T/O Company Close %Chg T/O Company Close %Chg T/O
Gulf Inv. Services 0.1 3.1 0.0
Nat'l Bk Of Oman 0.2 1.8 0.0
Oman Cement Co 0.2 1.8 0.0
Oman Fisheries 0.1 1.2 0.0
Bank Nizwa 0.1 1.0 0.0
Renaissance 0.3 (2.4) 0.0
Muscat Finance 0.0 (2.0) 0.0
Al Anwar Holdings 0.1 (1.5) 0.0
Al Madina Takaful 0.1 (1.3) 0.0
Raysut Cement 0.3 (1.3) 0.0
HSBC 0.09 (1.1) 0.25
Al-Anwar Ceramic 0.17 (0.6) 0.11
Bank Sohar 0.10 0.0 0.10
Ooredoo 0.39 0.0 0.07
Oman Telecom 0.63 0.0 0.06
Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research
All Close values are in OMR unless specified otherwise, T/O in $ million
Performance and valuation of market heavyweights
Close T/O MCap Price change TTM (%) Valuation (x) DY
Company (OMR) ($mn) ($mn) %Last %MTD %YTD ROE ROA P/BV P/E TTM (%)
Bank Muscat 0.4 0.03 3,108 0.5 (8.0) (11.0) 9.0 1.3 0.7 7.4 9.06
Oman Telecom 0.6 0.06 1,232 0.0 1.9 5.3
0.9
8.76
Bank Dhofar 0.1 0.00 818 0.0 (5.4) (14.6) 2.9 0.6 0.6 18.7 2.86
Nat'l Bk Of Oman 0.2 0.00 710 1.8 (6.1) (8.7) 8.4 1.1 0.7 9.4 10.00
Ominvest 0.3 0.00 697 0.0 (0.6) (2.4) 21.0 2.2 1.3 5.7 7.53
Ooredoo 0.4 0.07 656 0.0 (2.5) (26.0) 10.7 6.0 1.0 9.5 10.31
Bank Sohar 0.1 0.10 607 0.0 (10.3) (10.1) 6.9 0.9 0.7 8.0 3.00
Ahli Bank 0.1 0.00 600 0.0 2.2 13.1 11.3 1.2 0.9 10.4 6.85
HSBC 0.1 0.25 473 (1.1) (7.1) (24.8) 2.0 0.3 0.5 24.2 9.56
Bank Nizwa 0.1 0.03 394 1.0 0.0 6.3 8.0 1.2 1.0 12.5
Source: Bloomberg, NCBC Research
Top 5 stocks rising for 3 consecutive days
Top 5 stocks losing for 3 consecutive days
22-Sep 23-Sep 24-Sep 21-Sep
22-Sep 23-Sep 24-Sep 21-Sep
.
Source: Bloomberg, NCBC Research
.
Source: Bloomberg, NCBC Research
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
16
Bahrain
Market recap: The Bahrain benchmark index remained flat, closing at 1,450.4 points. Bahrain Telecom was up
0.4%. GFH Financial Grp was down 1.8%.
TASI intraday
TASI 1-year movement and turnover
1445
1446
1447
1448
1449
1450
1451
1452
9:30 9:55 10:15 10:40 11:15
1,000
1,100
1,200
1,300
1,400
1,500
1,600
1,700
1,800
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Sep-20Jun-20Mar-20Dec-19Oct-19
Turnover (RHS) BAX
Source: Bloomberg, NCBC Research
Source: Bloomberg, NCBC Research
Top gainers Top losers Most active
Company Close %Chg T/O Company Close %Chg T/O Company Close %Chg T/O
Bahrain Telecom 0.5 0.4 0.2
Seef Properties 0.2 (1.2) 0.0
Ahli United Bank 0.8 (0.4) 2.1
BBK 0.5 (0.2) 0.0
Nat'l Bk Of Bahrain 0.6 (0.2) 0.0
Bmmi 0.74 0.0 7.80
Ahli United Bank 0.80 (0.4) 2.06
GFH Financial Grp 0.16 0.0 0.54
Ithmaar Holding 0.09 9.0 0.23
Bahrain Telecom 0.46 0.4 0.19
Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research Source: Bloomberg, NCBC Research
All Close values are in BHD unless specified otherwise, T/O in $ million
Performance and valuation of market heavyweights
Close T/O MCap Price change TTM (%) Valuation (x) DY
Company (BHD) ($mn) ($mn) %Last %MTD %YTD ROE ROA P/BV P/E TTM (%)
Ahli United Bank 0.8 2.06 20,244 (0.4) 9.2 (16.5) 17.0 1.9 1.8 11.0 5.70
Nat'l Bk Of Bahrain 0.6 0.01 2,819 (0.2) 1.1 (1.8) 14.7 2.3 2.0 12.7 3.60
Arab Banking Corp 0.3 0.04 2,488 0.0 1.3 (35.3) 4.9 0.7 0.2 4.3 NA
Bahrain Telecom 0.5 0.19 2,026 0.4 9.7 19.6 11.0 5.4 1.6 14.9 6.70
BBK 0.5 0.05 1,810 (0.2) 1.0 (7.5) 15.0 2.0 1.3 8.8 5.66
GFH Financial Grp 0.2 0.54 1,570 (1.8) (1.8) (29.6) 7.8 1.5 0.5 7.7 5.49
Aluminium Bahrain 0.4 0.16 1,495 0.0 4.4 (4.3) 1.3 0.6 0.5 29.0 0.25
Albaraka Banking Grp 0.3 0.01 841 0.0 (0.4) (17.1) NA NA NA NA 7.78
Al-Salam Bank 0.1 0.03 467 0.0 4.1 (19.9) NA NA 0.6 NA 5.00
Bahrain Duty Free 0.7 0.08 247 0.0 18.9 (14.3) 14.4 12.4 1.8 12.5 7.63
Source: Bloomberg, NCBC Research
Top 5 stocks rising for 3 consecutive days
Top 5 stocks losing for 3 consecutive days
22-Sep 23-Sep 24-Sep 24-Aug
22-Sep 23-Sep 24-Sep 24-Aug
.
Source: Bloomberg, NCBC Research
.
Source: Bloomberg, NCBC Research
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
17
Glossary – Abbreviations used
%Chg % change MCap Market capitalization TTM Trailing 12 month*
bn Billion mn Million VAR Variance
DY Dividend yield Nm Not meaningful Vol Volume (No of stocks traded)
O/N Overnight P/E Price to earnings* YoY Year on Year
Fut. Futures’ prices (commodities) PBV Price to book value* YTD Year to date
%Last % change in last trading day QoQ Quarter on Quarter MTD Month to date
Close Adjusted Closing Price ROA Return on assets* QTD Quarter to date
T/O Turnover (Value of stocks traded) ROE Return on equity* 1M, 2M 1 Month, 2 Month etc
Important information
The authors of this report hereby certify that the views expressed in this document accurately reflect their personal views regarding the securities and companies that are the subject of this document. The authors also certify that neither they nor their respective spouses or dependents (if relevant) hold a beneficial interest in the securities that are the subject of this document. Funds managed by NCB Capital and its subsidiaries for third parties may own the securities that are the subject of this document. NCB Capital or its subsidiaries may own securities in one or more of the aforementioned companies, or funds or in funds managed by third parties The authors of this document may own securities in funds open to the public that invest in the securities mentioned in this document as part of a diversified portfolio over which they have no discretion. The investment banking division of NCB Capital may be in the process of soliciting or executing fee earning mandates for companies that are either the subject of this document or are mentioned in this document. This document is issued to the person to whom NCB Capital has issued it. This document is intended for general information purposes only, and may not be reproduced or redistributed to any other person. This document is not intended as an offer or solicitation with respect to the purchase or sale of any security. This document is not intended to take into account any investment suitability needs of the recipient. In particular, this document is not customized to the specific investment objectives, financial situation, risk appetite or other needs of any person who may receive this document. NCB Capital strongly advises every potential investor to seek professional legal, accounting, tax and financial guidance when determining whether an investment in a security is appropriate to his or her needs. Any investment recommendations contained in this document take into account both risk and expected return. Information and opinions contained in this document have been compiled or arrived at by the author are from sources believed to be reliable, but NCB Capital has not independently verified the contents of this document and such information may be condensed or incomplete. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on the fairness, accuracy, completeness or correctness of the information and opinions contained in this document. To the maximum extent permitted by applicable law and regulation, NCB Capital shall not be liable for any loss that may arise from the use of this document or its contents or otherwise arising in connection therewith. Any financial projections, fair value estimates and statements regarding future prospects contained in this document may not be realized. All opinions and estimates included in this document constitute the author’s judgment as of the date of production of this document, and are subject to change without notice. Past performance of any investment is not indicative of future results. The value of securities, the income from them, the prices and currencies of securities, can go down as well as up. An investor may get back less than he or she originally invested. Additionally, fees may apply on investments in securities. Changes in currency rates may have an adverse effect on the value, price or income of a security. No part of this document may be reproduced without the written permission of NCB Capital. Neither this document nor any copy hereof may be distributed in any jurisdiction outside the Kingdom of Saudi Arabia where its distribution may be restricted by law. Persons who receive this document should make themselves aware, of and adhere to, any such restrictions. By accepting this document, the recipient agrees to be bound by the foregoing limitations. NCB Capital is authorised by the Capital Market Authority of the Kingdom of Saudi Arabia to carry out dealing, as principal and agent, and underwriting, managing, arranging, advising and custody, with respect to securities under licence number 37-06046. The registered office of NCB Capital is at King Saud Road, NCB Regional Building P.O. Box 22216, 11495 Riyadh, Kingdom of Saudi Arabia.
Research disclosures
Third Party Research This research is prepared by NCB Capital, with headquarters in Riyadh, Saudi Arabia. NCB Capital is authorized to engage in securities activities according to its domestic legislation. This research is not a product of Tellimer Markets, Inc., a U.S. registered broker-dealer. NCB Capital has sole control over the contents of this research report. Tellimer Markets, Inc. does not exercise any control over the contents of, or the views expressed in, research reports prepared by NCB Capital. NCB Capital is not registered as a broker-dealer in the United States and, therefore, is not subject to U.S. rules regarding the preparation of research reports and the independence of research analysts. This research report is provided for distribution to “major U.S. institutional investors” and other “U.S. institutional investors” in reliance on the exemption from registration provided by Rule 15a-6 of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”). Any U.S. recipient of this research report wishing to effect any transaction to buy or sell securities or related financial instruments based on the information provided in this research report should do so only through Tellimer Markets, Inc., located at Floor 36, 444 Madison Avenue, Floor 36, New York, NY 10022. A representative of Tellimer Markets, Inc. is contactable on +1 (212) 551 3480. Tellimer Markets, Inc. accepts responsibility for the contents of this research report, subject to the terms set out below, to the extent that it is delivered to a U.S. person including major U.S. institutional investors.
CLOSING BELL NCB CAPITAL
24 SEPTEMBER 2020
18
None of the materials provided in this report may be used, reproduced, or transmitted, in any form or by any means, electronic or mechanical, including recording or the use of any information storage and retrieval system, without written permission from Tellimer and NCB Capital. NCB Capital is the employer of the research analyst(s) responsible for the content of this report and research analysts preparing this report are resident outside the U.S. and are not associated persons of any U.S. regulated broker-dealer. The analyst whose name appears in this research report is not registered or qualified as a research analyst with the Financial Industry Regulatory Authority (“FINRA”) and may not be an associated person of Tellimer Markets, Inc. and, therefore, may not be subject to applicable restrictions under FINRA Rules on communications with a subject company, public appearances and trading securities held by a research analyst account. Tellimer Markets, Inc. or its affiliates has not managed or co-managed a public offering of securities for the subject company in the past 12 months, has not received compensation for investment banking services from the subject company in the past 12 months, and does not expect to receive or intend to seek compensation for investment banking services from the subject company in the next three months. Tellimer Markets, Inc. has never owned any class of equity securities of the subject company. There are no other actual, or potential, material conflicts of interest of Tellimer Markets, Inc. at the time of the publication of this report. As of the publication of this report, Tellimer Markets, Inc. does not make a market in the subject securities.
About Tellimer
Tellimer is a registered trade mark of Exotix Partners LLP. Exotix Partners LLP and its subsidiaries ("Tellimer") provide specialist investment banking services to trading professionals in the wholesale markets. Tellimer draws together liquidity and matches buyers and sellers so that deals can be executed by its customers. Tellimer may at any time, hold a trading position in the securities and financial instruments discussed in this report. Tellimer has procedures in place to identify and manage any potential conflicts of interests that arise in connection with its research. A copy of Tellimer’s conflict of interest policy is available at www.tellimer.com/regulatory-information.
Distribution
This report is not intended for distribution to the public and may not be reproduced, redistributed or published, in whole or in part, for any purpose without the written permission of Tellimer. Tellimer shall accept no liability whatsoever for the actions of third parties in this respect. This report is for distribution only under such circumstances as may be permitted by applicable law. This report may not be used to create any financial instruments or products or any indices. Neither Tellimer and NCB Capital, nor its members, directors, representatives, or employees accept any liability for any direct or consequential loss or damage arising out of the use of all or any part of the information herein. United Kingdom: Distributed by Exotix Partners LLP only to Eligible Counterparties or Professional Clients (as defined in the FCA Handbook). The information herein does not apply to, and should not be relied upon by, Retail Clients (as defined in the FCA Handbook); neither the FCA’s protection rules nor compensation scheme may be applied. UAE: Distributed in the Dubai International Financial Centre by Exotix Partners LLP (Dubai) which is regulated by the Dubai Financial Services Authority (“DFSA”). Material is intended only for persons who meet the criteria for Professional Clients under the Rules of the DFSA and no other person should act upon it. Other distribution: The distribution of this report in other jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restriction.
Disclaimers
Tellimer and/or its members, directors or employees may have interests, or long or short positions, and may at any time make purchases or sales as a principal or agent of the securities referred to herein. Tellimer may rely on information barriers, such as “Chinese Walls” to control the flow of information within the areas, units, divisions, groups of Tellimer. Investing in any non-U.S. securities or related financial instruments (including ADRs) discussed in this report may present certain risks. The securities of non-U.S. issuers may not be registered with, or be subject to the regulations of, the U.S. Securities and Exchange Commission. Information on such non-U.S. securities or related financial instruments may be limited. Foreign companies may not be subject to audit and reporting standards and regulatory requirements comparable to those in effect within the United States. The value of any investment or income from any securities or related financial instruments discussed in this report denominated in a currency other than U.S. dollars is subject to exchange rate fluctuations that may have a positive or adverse effect on the value of or income from such securities or related financial instruments. Frontier and Emerging Market laws and regulations governing investments in securities markets may not be sufficiently developed or may be subject to inconsistent or arbitrary interpretation or application. Frontier and Emerging Market securities are often not issued in physical form and registration of ownership may not be subject to a centralised system. Registration of ownership of certain types of securities may not be subject to standardised procedures and may even be effected on an ad hoc basis. The value of investments in Frontier and Emerging Market securities may also be affected by fluctuations in available currency rates and exchange control regulations. Not all of these or other risks associated with the relevant company, market or instrument which are the subject matter of the report are necessarily considered.