JEDDAH, 25 January 2006 — The Saudi stock market stayed in a record territory yesterday. The Tadawul All-Share Index (TASI) broke the 18,500 barrier and closed 203.16 points or 1.11 percent higher at 18,587.46.
The banking sector, however, was in a negative territory as shares of only Al-Rajhi Banking & Investment Corp. rose 1.13 percent to SR3,765, whiles shares of other banks declined yesterday.
Shares of The Saudi British Bank (SABB) fell despite recording a net profit of SR2.5 billion last year, up 52.2 percent over the SR1.65 billion in 2004. SABB shares fell 1.58 percent to close at SR1,560. The Banking Index dropped 100.84 points to 46,458.11.
Out of 77 stocks traded, 43 were up while 33 were down. The value of traded shares crossed SR38 billion yesterday.
Saudi Basic Industries Corp. (SABIC) shares continued to rise yesterday. SABIC shares rose 1.76 percent to SR1,692. National Metal Manufacturing & Casting Co. shares jumped 9.99 percent to SR652.25.
The cement sector gained. Shares of Arab Cement fell, while shares of other companies climbed yesterday.
The Telecom Index edged higher by 244.80 points to 6,693.87 as shares of Saudi Telecom Co. and Etihad Etisalat rose by 4.61 percent to SR1,129.75 and 0.17 percent to SR726, respectively.
The agriculture sector was also in a negative territory yesterday. Shares of Bishah Agriculture soared 9.43 percent to SR1,010, while shares of other banks edged lower.