JEDDAH, 20 September 2005 — The Saudi stock index crossed the 15,000 mark yesterday with the Tadawul All Share Index (TASI) closing at record 15,001.44, up 82.04 points from Sunday’s closing. (Details on Page 17)
Analysts are optimistic that stocks will continue their upward swing due to the Kingdom’s strong economic position.
Riyad Bank Chief Economist and Vice President Khan H. Zahid told Arab News that high oil prices would drive stocks further up. This will make huge liquidity available.
He said: “If oil prices remain high in future, the index might go up by another 2,500 to 3,000 points to reach 18,000 by the end of the year.”
According to Tadawul sources, the value of the 77 companies traded crossed SR19.9 billion yesterday.