Thousands

alrajhicapital

2k5pO0I

Thousands

10:00

10:15

10:30

10:45

11:00

11:15

11:30

11:45

12:00

12:15

12:30

12:45

13:00

13:15

13:30

13:45

14:00

14:15

14:30

14:45

26-Jan

29-Jan

30-Jan

31-Jan

1-Feb

2-Feb

5-Feb

6-Feb

7-Feb

8-Feb

Daily Market Report

Saudi Arabia Stock Exchange

9 February 2016

TASI Index 6,967.4 -1.01%

Turnover (SAR mn) 4,415.6 10%

TASI Intra Day Movement

Global commentary

Research Department

research@alrajhi-capital.com

Tel:+966 11 211 9370

7,060

7,040

7,020

7,000

6,980

6,960

6,940

6,920

Intraday

TASI – Activity Trend (Last 10 Days)

-

6

4

2

Turnover (LHS, SAR bn)

Previous Close

TASI Index (RHS)

9,000

8,500

8,000

7,500

7,000

6,500

6,000

5,500

5,000

Regional Indices

Close 1D% WTD% YTD%

KSA (TASI) 6,967 -1.0 -1.8 -3.4

Qatar (DSM) 10,654 0.7 0.8 2.1

Kuw ait (KSE) 6,656 1.1 -2.7 15.8

Abu Dhabi (ADSM) 4,574 0.6 2.9 0.6

Dubai (DFM) 3,726 0.2 2.8 5.5

Oman (MSM30) 5,828 0.1 0.4 0.8

Bahrain (BSE) 1,310 0.0 0.2 7.3

MSCI GCC 478 -0.2 -0.3 0.3

Major Commodities / Currencies

Close 1D % WTD % YTD %

Gold Spot $/Oz 1,241 0.0 1.7 7.7

Silver Spot $/Oz 17.79 0.1 1.6 11.8

Crude Oil (Brent) 55.39 0.5 -2.5 -3.7

OPEC Basket 52.78 -1.8 -2.7 -1.0

Euro 1.07 -0.1 -0.9 1.6

USD Index 100.29 0.0 0.4 -1.9

JPY 112.170 -0.4 0.4 4.3

Major Global Indices

Close 1D % WTD % YTD %

DJ Industrial 20,054 -0.2 -0.1 1.5

S&P 500 2,295 0.1 -0.1 2.5

Nikkei 225 18,925 -0.4 0.0 -1.0

Hang seng 23,576 0.4 1.9 7.2

FTSE 100 7,189 0.0 0.0 0.6

CAC 40 4,767 0.3 -1.2 -2.0

MSCI World 1,802 0.3 -0.2 2.9

MSCI EM 922 0.2 0.3 6.9






US stock markets advanced on Wednesday, driven by positive

corporate earnings coupled with the rise in oil prices. The Nasdaq

Composite Index rose 0.2%, closing at a record high for the second

session in a row, while the S&P 500 edged up 0.1%, driven by

utilities and real estate sectors. However, the Dow Jones fell 0.2%,

led by financial stocks.

European markets ended on a mixed note on Wednesday. The CAC

40 gained 0.3%, backed by strong corporate earnings of Vinci and

Sanofi, whereas the DAX fell 0.1%, led by basic resources,

construction and chemical sectors. Meanwhile, the FTSE 100 ended

on a flat note, as investors were cautious ahead of the key vote in the

British parliament over the Brexit bill.

Most GCC markets gained yesterday. Kuwait climbed 1.1%, while

Qatar rose 0.7%, as Barwa Real Estate posted strong corporate

earnings. Further, Abu Dhabi jumped 0.6%, driven by energy stocks,

while Dubai and Oman added 0.2% and 0.1%, respectively.

Meanwhile, Bahrain ended the session on a flat note.

Most Asian markets are trading in the green this morning, tracking

positive cues from the US. The Shanghai Composite Index and the

Hang Seng Index are up 0.4% each, while the KOSPI is trading up

0.2%. However, the Nikkei 225 is trading down 0.3%, backed by the

stronger yen.

Brent crude edged up 0.1% on Wednesday, as investors brushed

aside the EIA report suggesting second-largest weekly rise in US

crude oil inventory. Key crude contracts Brent and WTI ended at

US$ 55.12 (+0.1%) and US$ 52.34 (+0.3%), respectively.

Saudi commentary





Tadawul All Share Index (TASI) lost 71.22 point or 1.01 % to

close at 6,967.40. Seventeen of the twenty sector indices closed

lower. The advance decline ratio was 18/150. Trading turnover was

around SAR 4.4bn.

Saudi Cement board proposes dividend for H216: The board

of directors of Saudi Cement Co. on Wednesday proposed issuing a

27.5 percent cash dividend (SAR 2.75 per share) for the second half

2016. (Argaam)

Dallah Healthcare inks MoU to build hospital in North

Jeddah: Dallah Healthcare Co. has signed an agreement with

Raeda Investment Co. to set up a company to build and operate a

general hospital in North Jeddah after obtaining necessary licenses,

Dallah said in a statement to Tadawul Wednesday.(Argaam)

Red Sea subsidiary to build SAR 63 mln staff housing in

Malaysia: Red Sea Housing Services Co.’s Malaysian subsidiary has

signed with Desaru Development Holdings One Sdn Bhd a letter of

acceptance (LOA) at a total value of SAR 62.8 million (MYR 74.3

million) to build an integrated staff village in Johor.(Argaam)

Interest Rates

1M 3M 12M 3M Chg 1Y

LIBOR (USD) 0.77 1.04 1.71 0.42

SAIBOR 1.69 1.96 2.34 0.23

EIBOR 0.97 1.40 2.10 0.34

Data Sources: Bloomberg

Updated as of 09/Feb/2017 7:59 AM

Please see penultimate page for additional important disclosures. Al Rajhi Capital (Al Rajhi) is a foreign broker-dealer unregistered in the USA. Al Rajhi research is prepared by research analysts

who are not registered in the USA. Al Rajhi research is distributed in the USA pursuant to Rule 15a-6 of the Securities Exchange Act of 1934 solely by Rosenblatt Securities, an SEC registered and

FINRA-member broker-dealer. 1


Energy

Health Care

Equipment & Svc

Consumer Services

Transport

Food & Staples

Retailing

Diversified

Financials

Commercial &

Professional Svc

Pharma

Consumer Durables

& Apparel

Media

Daily Market Report

Saudi Arabia Stock Exchange

TASI – Large Cap (>10% Index weight) Sectors’ Performance

TASI – Top Gainers / Losers

0.0

-0.5

-1.0

-1.5

-2.0

-2.5

-3.0

-3.5

1D % (LHS) MTD % (LHS) YTD % (RHS)

TASI Materials Banks Real

Estate

Telecom

0.0

-1.0

-2.0

-3.0

-4.0

-5.0

-6.0

-7.0

-8.0

-9.0

-10.0

Company Last Price Chg % Vol (mn) Value Trd (SAR mn)

Al-Ahlia Coop Ins 6.93 9.7 11.966 79.59

Solidarity Saudi 10.47 4.2 13.981 144.66

Malath Insurance 8.76 3.7 3.812 32.96

Saudi Enaya Coop 18.28 2.7 2.992 55.50

Amana Coop Ins 9.22 2.7 5.299 48.55

Company Last Price Chg % Vol (mn) Value Trd (SAR mn)

Wataniya Ins 32.6 -5.3 1.126 37.48

Sabb Takaful 30.4 -4.5 0.768 23.76

Aljazira Takaful 31.7 -4.1 0.617 19.77

Axa Cooperative 19.4 -4.1 2.600 51.36

Sipchem 18.2 -3.7 1.030 18.89

TASI – Mid Cap (5 -10% index weight) Sectors’ Performance

TASI – Top Index Movers / Losers (Heavy weight stocks)

6.0

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

Insurance

1D % (LHS) MTD % (LHS) YTD % (RHS)

Food &

Beverages

Capital

Goods

Utilities

Retailing

6.0

4.0

2.0

0.0

-2.0

-4.0

-6.0

Company Last Price Chg % Index Imp Value Trd (SAR mn)

Saudi Elec 23.38 1.5 2.5 5.46

Savola 38.38 1.4 2.1 0.33

Emaar Eco City 18.64 2.0 1.1 2.82

Makkah Const 90.25 0.8 0.8 0.05

Al Othaim 102.69 1.2 0.4 0.09

Company Last Price Chg % Index Imp Value Trd (SAR mn)

Jabal Omar 67.27 -2.1 -8.2 10.04

Samba 21.13 -2.9 -6.3 16.83

Sabic 95.57 -0.8 -5.1 279.27

Almarai 67.02 -1.4 -2.9 15.85

STC 65.21 -1.2 -2.6 30.22

TASI – Small Cap (


26-Jan

26-Jan

26-Jan

29-Jan

29-Jan

29-Jan

30-Jan

30-Jan

30-Jan

31-Jan

31-Jan

31-Jan

1-Feb

1-Feb

1-Feb

2-Feb

2-Feb

2-Feb

5-Feb

5-Feb

5-Feb

6-Feb

6-Feb

6-Feb

7-Feb

7-Feb

7-Feb

8-Feb

8-Feb

8-Feb

DFM

ADSM

DSM

Real Estate

Bank

Bank

Energy

Reality

Telecome

Telecom

Insurance

Banks

Consumer

Fin.Services

Investment

Industrial

Transport

Transport

Services

Real Estate

Telcom

Insurance

Consumer

Services

Insurance

Daily Market Report

Saudi Arabia Stock Exchange

Performance of Regional markets

Country

Last Index Change (%) MCap Volume Turnover P/E (x) P/E (x) P/E (x) P/B (x) Div Yld

Close 1D 1M YTD US$ bn mn shr US$ mn 12M 2016 2017E Current 12M (%)

Saudi Arabia 6,967 -1.0 -1.9 -3.4 435 231 1,177 17.2 14.2 12.7 1.6 3.4

Qatar 10,654 0.7 0.5 2.1 134 9.5 87 15.5 13.1 11.6 1.6 3.8

Dubai 3,726 0.2 2.3 5.5 86 429 161 12.4 10.7 9.4 1.3 3.6

Abu Dhabi 4,574 0.6 0.6 0.6 119 107 58 11.9 12.0 10.6 1.4 5.3

Kuw ait 6,656 1.1 -2.6 15.8 96 593 159 22.9 NA NA 1.2 3.6

Oman 5,828 0.1 0.9 0.8 17 14 7 10.9 9.7 9.7 1.2 4.9

Bahrain 1,310 0.0 0.5 7.3 20 2.7 1 9.4 NA NA 0.4 4.3

Data Sources: Al Rajhi Capital, Bloomberg

Dubai – Activity Trend (Last 10 Days) Dubai – Sector Performances Dubai – Top Gainers / Losers

1.6

1.2

0.8

0.4

0.0

Turnover (LHS, AED bn)

DFMGI Index (RHS)

3,740

3,720

3,700

3,680

3,660

3,640

3,620

3,600

3,580

3,560

5.0

0.0

-5.0

1D % (LHS) MTD % (LHS) YTD % (RHS) Company Last Price Change % Vol (mn)

Dubai Islamic Ins 1.09 9.0 36.82

Takaful House 1.22 7.0 5.94

Islamic Arab Ins 0.62 4.6 55.06

Emaar Prop 7.58 1.5 11.13

DXB Entertainments 1.17 0.9 49.05

14.0

12.0

10.0

8.0

6.0

4.0

2.0

0.0

-2.0

-4.0

Company Last Price Change % Vol (mn)

Union Properties 1.13 -1.7 24.43

Drake & Scull Intl 0.53 -1.7 72.71

Amanat Holdings 1.20 -1.6 23.20

Damac Properties 0.45 -1.4 16.29

Amlak Finance 1.31 -0.8 6.50

Abu Dhabi – Activity Trend (Last 10 Days) Abu Dhabi – Sector Performances

Abu Dhabi – Top Gainers / Losers

0.5

0.0

Turnover (LHS, AED bn)

ADSMI Index (RHS)

5,000

4,500

4,000

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

-4.0

1D % (LHS) MTD % (LHS) YTD % (RHS) Company Last Price Change % Vol (mn)

20.0 National Takaful 0.63 14.6 0.050

Union Cement 1.29 8.4 0.025

15.0

Intl Fish Farming 2.28 6.1 16.862

10.0

Al Khazna Ins 0.44 4.8 0.920

Methaq Takaful 0.94 3.3 12.629

5.0

0.0

-5.0

-10.0

Company Last Price Change % Vol (mn)

Abu Dhabi Aviati 2.90 -3.3 0.127

Arkan Building Mat 0.89 -2.2 3.531

Bank Of Sharjah 1.45 -1.4 0.337

Agthia Group 6.76 -1.3 0.024

Eshraq Propertie 1.12 -0.9 11.516

Qatar – Activity Trend (Last 10 Days) Qatar – Sector Performances Qatar – Top Gainers / Losers

0.6

0.3

0.0

Turnover (LHS, QAR bn)

DSM Index (RHS)

11,200

10,800

10,400

10,000

3.0

2.5

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

-2.0

-2.5

1D % (LHS) MTD % (LHS) YTD % (RHS) Company Last Price Change % Vol (mn)

Barw a Real Est 38.70 8.3 2.587

CBQ 33.05 3.3 0.277

Doha Bank 38.00 2.7 0.391

Ind Qatar 112.50 1.4 0.087

Mas Al Rayan 41.50 1.1 1.592

7.0

6.0

5.0

4.0

3.0

2.0

1.0

0.0

-1.0

-2.0

-3.0

-4.0

Company Last Price Change % Vol (mn)

United Devt Co 21.88 -3.0 0.513

Mazaya Qatar 14.23 -1.9 0.207

Qatar Navigation 93.50 -0.5 0.035

Qatary investors 54.80 -0.4 0.004

Qatar Insurance 83.50 -0.4 0.159

Data Sources: Al Rajhi Capital, Bloomberg

Disclosures Please refer to the important disclosures at the back of this report. 3


Thousands

Thousands

26-Jan

26-Jan

26-Jan

29-Jan

29-Jan

29-Jan

30-Jan

30-Jan

30-Jan

31-Jan

31-Jan

31-Jan

1-Feb

1-Feb

1-Feb

2-Feb

2-Feb

2-Feb

5-Feb

5-Feb

5-Feb

6-Feb

6-Feb

6-Feb

7-Feb

7-Feb

7-Feb

8-Feb

8-Feb

8-Feb

KSE

BSE

Technology

Investment

Banks

Industrial

Real estate

Hotel & Tourism

Bank

Fin. Services

Parallel

Insurance

Services

Telecom

Industries

Consumer

Insurance

Services

Basic material

Oil&Gas

Healthcare

Daily Market Report

Saudi Arabia Stock Exchange

Kuwait – Activity Trend (Last 10 Days) Kuwait – Sector Performances Kuwait – Top Gainers / Losers

80

70

60

50

40

30

20

10

0

Turnover (LHS, KWD mn)

KWSEIDX Index (RHS)

7,000

6,900

6,800

6,700

6,600

6,500

6,400

4.0

2.0

0.0

-2.0

-4.0

-6.0

-8.0

-10.0

-12.0

-14.0

1D % (LHS) MTD % (LHS) YTD % (RHS) Company Last Price Change % Vol (mn)

35.0 National Consumer 50 17.7 0.003

30.0 Real Estate Asset Mgmt 250 13.6 3.600

Hets Telecom 55 10.0 1.380

25.0

Al Salam Group Hldg 56 9.8 8.171

20.0 Yiaco Medical Co 280 9.8 0.001

15.0

10.0

5.0

0.0

-5.0

Company Last Price Change % Vol (mn)

Hayat Communications 99 -8.3 0.235

Ikarus Petroleum 33 -7.0 5.367

Kuw ait Foundry 320 -5.9 0.242

United Real Estate 100 -5.7 0.252

First Dubai Real Est 74 -5.1 2.168

Oman – Activity Trend (Last 10 Days) Oman – Sector Performances Oman – Top Gainers / Losers

8

4

0

Turnover (LHS, OMR mn)

MSM30 Index (RHS)

5,840

5,820

5,800

5,780

5,760

5,740

5,720

5,700

2.5

2.0

1.5

1.0

0.5

0.0

-0.5

1D % (LHS) MTD % (LHS) YTD % (RHS) Company Last Price Change % Vol (mn)

6.0

Al-Anw ar Ceramic 0.169 2.4 4.932

5.0 Bank Nizw a 0.089 1.1 3.948

4.0 Al Batinah Pow er 0.189 1.1 0.007

3.0 Oman Telecom 1.435 0.4 0.115

2.0

NA NA NA NA

MSM 30 Bank Industry Services

1.0

0.0

-1.0

-2.0

Company Last Price Change % Vol (mn)

Al Anw ar Holding 0.186 -1.6 0.170

Phoenix Pow er 0.144 -1.4 0.015

Renaissance Serv 0.241 -1.2 0.150

Al Sharqiya Inv 0.139 -0.7 0.053

Oman Invest &Fin 0.216 -0.5 0.692

Bahrain – Activity Trend (Last 10 Days) Bahrain – Sector Performances Bahrain – Top Gainers / Losers

4.5

4.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

-

Turnover (LHS, BHD mn)

BHSEASI Index (RHS)

1,315

1,310

1,305

1,300

1,295

1,290

1,285

2.0

1.5

1.0

0.5

0.0

-0.5

-1.0

-1.5

-2.0

1D % (LHS) MTD % (LHS) YTD % (RHS)

15.0

10.0

5.0

0.0

-5.0

-10.0

-15.0

Company Last Price Change % Vol (mn)

Ithmaar Bank 0.190 5.6 0.750

Bahrain Islamic Bk 0.135 3.9 0.174

Nass Corp 0.147 2.8 0.189

BMMI 0.835 1.8 0.070

Bahrain Comm Fac 0.665 1.5 0.020

Company Last Price Change % Vol (mn)

Khaleeji Com Bk 0.103 -2.8 0.420

Al-Salam Bank 0.121 -2.4 0.065

Ahli United Bk 0.710 -0.7 0.707

NA NA NA NA

NA NA NA NA

Data Sources: Al Rajhi Capital, Bloomberg

Disclosures Please refer to the important disclosures at the back of this report. 4


Daily Market Report

Saudi Arabia Stock Exchange

IMPORTANT DISCLOSURES FOR U.S. PERSONS

This research report was prepared by Al Rajhi Capital (Al Rajhi), a company authorized to engage in securities activities in Saudi Arabia. Al

Rajhi is not a registered 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” in

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5


Daily Market Report

Saudi Arabia Stock Exchange

Disclaimer and additional disclosures for Equity Research

Disclaimer

This research document has been prepared by Al Rajhi Capital Company (“Al Rajhi Capital”) of Riyadh, Saudi Arabia. It has been prepared

for the general use of Al Rajhi Capital’s clients and may not be redistributed, retransmitted or disclosed, in whole or in part, or in any form or

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public disclosure of such information by Al Rajhi Capital. The information contained was obtained from various public sources believed to be

reliable but we do not guarantee its accuracy. Al Rajhi Capital makes no representations or warranties (express or implied) regarding the

data and information provided and Al Rajhi Capital does not represent that the information content of this document is complete, or free

from any error, not misleading, or fit for any particular purpose. This research document provides general information only. Neither the

information nor any opinion expressed constitutes an offer or an invitation to make an offer, to buy or sell any securities or other investment

products related to such securities or investments. It is not intended to provide personal investment advice and it does not take into account

the specific investment objectives, financial situation and the particular needs of any specific person who may receive this document.

Investors should seek financial, legal or tax advice regarding the appropriateness of investing in any securities, other investment or

investment strategies discussed or recommended in this document and should understand that statements regarding future prospects may

not be realized. Investors should note that income from such securities or other investments, if any, may fluctuate and that the price or value

of such securities and investments may rise or fall. Fluctuations in exchange rates could have adverse effects on the value of or price of, or

income derived from, certain investments. Accordingly, investors may receive back less than originally invested. Al Rajhi Capital or its

officers or one or more of its affiliates (including research analysts) may have a financial interest in securities of the issuer(s) or related

investments, including long or short positions in securities, warrants, futures, options, derivatives, or other financial instruments. Al Rajhi

Capital or its affiliates may from time to time perform investment banking or other services for, solicit investment banking or other business

from, any company mentioned in this research document. Al Rajhi Capital, together with its affiliates and employees, shall not be liable for

any direct, indirect or consequential loss or damages that may arise, directly or indirectly, from any use of the information contained in this

research document.

This research document and any recommendations contained are subject to change without prior notice. Al Rajhi Capital assumes no

responsibility to update the information in this research document. Neither the whole nor any part of this research document may be altered,

duplicated, transmitted or distributed in any form or by any means. This research document is not directed to, or intended for distribution to

or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where such

distribution, publication, availability or use would be contrary to law or which would subject Al Rajhi Capital or any of its affiliates to any

registration or licensing requirement within such jurisdiction.

Explanation of Al Rajhi Capital’s rating system

Al Rajhi Capital uses a three-tier rating system based on absolute upside or downside potential for all stocks under its coverage except

financial stocks and those few other companies not compliant with Islamic Shariah law:

"Overweight": Our target price is more than 10% above the current share price, and we expect the share price to reach the target on a 12

month time horizon.

"Neutral": We expect the share price to settle at a level between 10% below the current share price and 10% above the current share price

on a 12 month time horizon.

"Underweight": Our target price is more than 10% below the current share price, and we expect the share price to reach the target on a 12

month time horizon.

"Target price": We estimate target value per share for every stock we cover. This is normally based on widely accepted methods

appropriate to the stock or sector under consideration, e.g. DCF (discounted cash flow) or SoTP (sum of the parts) analysis.

Please note that the achievement of any price target may be impeded by general market and economic trends and other external factors, or

if a company’s profits or operating performance exceed or fall short of our expectations.

Contact us

Al Rajhi Capital

Research Department

Head Office, King Fahad Road

P.O. Box 5561, Riyadh 11432

Kingdom of Saudi Arabia

Email: research@alrajhi-capital.com

Al Rajhi Capital is licensed by the Saudi Arabian Capital Market Authority, License No. 07068/37.

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