JEDDAH, 4 October 2005 — The Saudi stock market recovered slightly yesterday after a plunge on Sunday. The Tadawul All Share Index (TASI) gained 65.66 points to end trading at 14,885.57.
The Services sector index edged higher by 156.24 points to close at 4,722.49 while the Telecom sector index rose by 141.51 points at 5,543.43.
However, the major Industrial and Cement sector indices fell by 95.49 points at 39,129.93 and 63.20 points at 8,516.33, respectively.
Shares of all cement companies fell except Yanbu Cement whose shares were higher by 0.86 percent at SR671.
Shares of the banks showed mixed performance yesterday as the Banking index up marginally 10.33 points to close at 33,010.11. Shares of Riyad Bank, Bank AlJazira, Saudi Hollandi Bank, Banque Saudi Fransi, Arab National Bank and Al-Rajhi Banking & Investment Corp. fell while shares of Saudi Investment Bank, the Saudi British Bank, Samba Financial Group and Bank Albilad edged higher.
The Agricultural index rose by 26.47 points at 5,186.16.
Jarir Marketing Co. shares jumped 10 percent to close at SR1,158.25, followed by Saudi Land Transport Co. by 9.99 percent at SR437.50, Saudi Industrial Services Co. by 9.98 percent at SR305.75, Al-Ahsa for Development Co. by 9.97 percent at 397 and Saudi Chemical Co. by 9.96 percent at SR411.25. The petrochemical giant Saudi Basic Industries Corp.’s shares dropped slightly at SR1,593.75.
During Ramadan the Saudi stock market will have different timings. From Saturday to Wednesday the market will remain open from 10:30 a.m. to 12:00 p.m. for the first session and from 9:00 p.m. to 11:00 p.m. for the evening session. On Thursday the stock exchange will be open only from 10:30 a.m. to 12:00 p.m.