JEDDAH, 9 January 2006 — Saudi stocks hit a new record high in a shortened half-day trading session yesterday before the Eid Al-Adha holiday. The Tadawul All-Share Index (TASI) jumped 129.15 points yesterday to close at 17,675.91.

Stock analysts say the index is quickly approaching the 18,000 mark. It has already gained 963.27 points in seven days. The index as of Dec. 31, 2005 was 16,712.64.

Over SR11.72 billion worth of shares changed hands yesterday.

The Banking Index rose 214.58 points to 42,660.64 as shares of major banks edged higher yesterday. Shares of only Al-Rajhi Banking and Investment Corp. and Saudi Hollandi Bank were in negative territory yesterday. Riyad Bank shares soared 2.56 percent to SR889.75 and The Saudi British Bank (SABB) by 1.15 percent to SR1,588.

The Industrial Index was higher by 98.91 points at 43,075.69 as shares of major companies such as Saudi Basic Industries Corp. (SABIC), Al-Ahsa Development Co., Savola Group and Saudi Industrial Development Co. rose while shares of National Gas & Industrialization Co., Food Products Co., Saudi Arabian Amiantit Co., Zamil Industrial Investment Co. Sahara Petrochemical, Saudia Dairy and Foodstuff Co., and Almarai Co. fell yesterday.

In the cement sector, shares of Southern Cement were up by 4.66 percent to SR870 and Yanbu Cement by 0.69 percent to SR765, whiles shares of Arab Cement, Qassim Cement and Eastern Cement declined yesterday.

The National Shipping Company of Saudi Arabia shares rose 2.40 percent to SR544.75 and Saudi Industrial Export Co. by 1.23 percent to SR820 in the services sector yesterday. However, shares of major companies including Saudi Hotels & Resort Areas Co., Saudi Real Estate Co., Aseer Trading, Tourism & Manufacturing Co., Makkah Construction and Development Co. and Al-Baha Investment & Development Co. dropped yesterday.

Saudi Electicity Co. shares fell to SR150.

Saudi Telecom Co. (STC) shares continued to surge yesterday and closed 3.76 percent higher at SR1,055.25. STC shares were most active by value at SR1.45 billion. Etihad Etisalat shares also rose slightly to SR727.

The National Company for Cooperative Insurance (NCCI) shares dropped 1.63 percent to SR783.

In the agriculture sector, shares of Eastern Agriculture jumped 9.98 percent to SR554, followed by Bishah Agriculture by 6.80 percent to SR1,456.75 yesterday.