JEDDAH, 30 November 2005 — Saudi stocks drifted lower yesterday. The Tadawul All-Share Index (TASI) closed at 16,378.87, down 51.69 points.
The Banking index continued to fall as shares of major banks declined. The index closed 208.10 points lower at 41,996.88. Al-Rajhi Banking & Investment Corp.’s shares dropped 1.54 percent at SR2,707. However, shares of Banque Saudi Fransi increased 1.02 percent to close at SR1,516 yesterday.
The Industrial index rose 39.33 points despite fall in share prices of petrochemical giant Saudi Basic Industries Corp. (SABIC) and Sahara Petrochemical.
The Cement index was also lower yesterday. Shares of Saudi Cement and Yanbu Cement rose slightly while shares of other companies declined. Fall in share prices of Saudi Telecom Co. (STC) at SR908 and Etihad Etisalat at SR722 pulled the Telecom index down by 45.95 points at 5,605.26.
Shares of Saudi Electricity Co. (SEC) declined slightly at SR140.50 but it was most active by volume yesterday at 4,180,677.
Saudi Industrial Investment Group was most active by value as SR1.23 billion worth of shares changed hands yesterday. Tourism Enterprise Co. shares jumped 10 percent at SR517, followed by Bishah Agriculture by 5.68 percent at SR530 and Ahmed H. Fitaihi Co. by 4.32 percent at SR290 yesterday.
The value of total shares traded crossed SR20 billion yesterday.
