JEDDAH, 16 November 2005 — Fall in major Banking and Industrial indices pulled the Tadawul All-Share Index (TASI) down 34.87 points at 16,028.99 yesterday.
The Banking index closed 220.87 points lower at 39,451.12 while the Industrial index was 126.26 points down at 40,189.79.
Saudi Basic Industries Corp. shares dropped slightly at SR1,585.
Prince Saud ibn Abdullah, chairman of the Royal Commission for Jubail and Yanbu and chairman of SABIC, said the Kingdom’s accession to the World Trade Organization (WTO) will have positive impact on national industries and gas prices.
Ahmed H. Fitaihi Co. shares jumped 8.59 percent at SR278, followed by Jouff Agriculture by 8.10 percent at SR310.25 and National Agriculture Development Co. by 7.25 percent at SR503.
Shares of Saudi Cement fell 1.90 percent at SR673 and Saudi Real Estate Co. by 1.68 percent at SR675.
The Telecom index was down as shares of Saudi Telecom Co. and Etihad Etisalat declined.
Only Services, Electricity and Agricultural indices were higher yesterday.
Saudi Electricity Co. shares were higher by 2.53 percent yesterday to close at SR141.75.
The value of shares traded crossed SR22 billion yesterday.