JEDDAH, 27 December 2007 — In only a three-day trading activity after the Eid holidays, Saudi Arabia’s Tadawul All Share Index ended higher yesterday, led by Saudi Basic Industries Corp. (SABIC) and Saudi Telecom Co.
SABIC gained 0.88 percent and STC 3.85 percent. The benchmark rose 0.17 percent to 11,415.30 points.
Top gainers yesterday were MESC, Real Estate, Pipes, Alujain and Jabal Omar.
Most active by value were Saudi Kayan, Jabal Omar, STC, SABIC and MESC.
The industrial sector pulled up the main index yesterday, with shares of 20 listed firms ending in positive territory against 12 that went southbound, with the Middle East Specialized Cables Co. raking in the biggest gain at 7.83 percent change in value.
In the banking sector, out of 10 listed companies, only Al-Rajhi and Arab National posted gains in value at 1.45 percent and 0.41 percent, respectively in the last trading of only a three-day trading week after the Eid holidays.
In the services sector, the Saudi Real Estate Co. chalked up the biggest gain with the value rising by 7.61 percent.
Of the two companies listed in the telecommunication sector, Saudi Telecom Co. improved by 3.84 percent in yesterday’s trading. However, Etihad Etisalat lost by 0.68 percent.
Elsewhere, Abu Dhabi’s main index closed higher for a fourth trading day, boosted by Emirates Telecommunications Corp. (Etisalat) and Abu Dhabi National Energy Co. (Taqa). Etisalat gained 0.86 percent and Taqa 2.16 percent. The index added 0.08 percent to 4,635.88 points.
Dubai’s main index closed above 6,000 for the first time in 20 months, powered by Emaar Properties and Amlak Finance. The index closed up 0.6 percent at 6,028.16, crossing 6,000 points for the first time since April 18, 2006.
Bahrain’s benchmark closed higher for a fourth trading day, adding 0.32 percent higher to 2,694.40 points.
However, Qatar, Oman and Kuwait went in an opposite direction, with their indices registering a decline in yesterday’s close.