JEDDAH, 13 August 2005 — The Tadawul All Share Index (TASI) set to break the 14,000 barrier as it closed on Thursday, the last day of weekly trading, at 13,930.49 points, the largest in its history, as a result of the strong performance of Saudi Basic Industries Corp. (SABIC), which dominates the market.
Thursday saw the TASI index rising by 124.34 points or 0.90 percent from 13,806.15 on Wednesday. The main boost came from SABIC as its stock closed on Thursday at SR1,447.
Out of 76 symbols traded on Thursday, 34 were higher and 31 were down.
Prices of all sectors except electricity and telecom went up but the significant jump came from the industrial sector which rose by 854.37 points or 2.49 percent at 35,224.87 points.
The electricity index was down 10.20 points or 0.40 percents from Wednesday at 2,540.89 points and telecom index was also lower 22.37 points or 0.41 percent at 5,371.02 points.
However, the banking sector index was higher by 27.25 points or 0.08 percent at 32,294.05 points on Thursday.
The Saudi stock market is also expected to see the listing of the Dairy firm Almarai on Monday, Al-Eqtisadiah business daily reported last week. The company floated 4.5 million shares from a total of 15 million shares.
