JEDDAH,7 September 2005 — Over 1,000 points plunge in the Industrial index pulled the Saudi stock market down by over 300 points yesterday.
The Tadawul All Share Index (TASI) closed down 300.06 points or 2.07 percent to close at 14,218.11.
The Industrial index plunged 1,094.47 points or 2.90 percent to close at 36,675.11.
National Agricultural Development Co. (NADEC) shares surged 4.89 percent at SR483 followed by Amiantit by 4.16 percent at SR313.
Saudi Industrial Services Co. (SISCO) shares dropped 5.71 percent yesterday to close at SR198 followed by Tihama Advertising and Public Relations Co. by 5.63 percent at SR285, Food Products Co. by 5.27 percent at SR175.25, Taiba by 5.04 percent at SR353.25 and Hail Agriculture by 4.92 percent at SR203.
Saudi Fisheries shares suffered 4.31 percent fall at SR277.50.
Saudi Basic Industries Corp. (SABIC) shares continued to fall at SR1,529.50, down 2. 89 percent.
Saudi Electricity Co. (SEC) shares also fell 2.76 percent at SR141 with volume of 22,085,765.
The Banking index dropped 382.04 points at 31,582.13. Saudi Investment Bank (SAIB) shares declined 2.29 percent at SR855. Al-Rajhi Banking and Investment Corp. shares also closed 1.71 percent lower at SR1,726.
Bank AlJazira shares were trading 1.61 percent lower at SR856.
Over 4 percent fall in Etihad Etisalat shares sent the Telecom index lower 69.54 points at 5,550.36. However, Saudi Telecom Co. (STC) shares were trading slightly lower at SR933.75.
The Agriculture index was also lower slightly at 4,605.17.
Drop in cement stocks sent the Cement index down 187.29 points at 8,501.47.
National Company for Cooperative Insurance (NCCI) shares fell 3.85 percent at SR618.
