RIYADH: Tadawul All Share Index earnings data for the third quarter of 2023 revealed profit growth in non-oil sectors when compared to the corresponding period last year, according to data compiled by Arab News.
Emphasizing the Kingdom’s drive for economic diversification, banking, transportation, telecommunication services, and healthcare and equipment services all reported increased profits over the three months to the end of September.
The primary stock market index of Saudi Exchange employs a sophisticated methodology to assign weights to each sector within the index.
Even though the energy sector claims the highest market capitalization, primarily influenced by Aramco with a substantial SR8.47 trillion ($2.26 trillion) market cap, it does not command the highest weight. This is due to the capped indices calculation methodology, with the banks sector surpassing it in terms…
