JEDDAH, 2 February 2006 — Saudi stocks hit a record high yesterday. The Tadawul All-Share Index (TASI) broke through the 19,000 barrier to close at an all-time high of 19,069.50, up 248.75 points or 1.32 percent from Tuesday’s close.
The index gained 14.10 percent or 2,356.86 points so far this year. It closed on Dec. 31 at 16,712.64 points.
The stock trading crossed SR36 billion yesterday.
The Banking Index rose slightly to 44,589.20 points as shares showed mixed performance. Shares of Al-Rajhi Banking & Invest Corp., Samba Financial Group, Saudi Hollandi Bank, Riyad Bank and The Saudi Investment Bank edged higher while shares of Banque Saudi Fransi, The Saudi British Bank, Bank AlJazira and Bank Albilad fell yesterday. The Industrial Index rose 898.03 points to 47,576.48 as shares of major companies made hefty gains.
Shares of the National Company for Glass Industries jumped 8.50 percent to SR948.25 followed by Arabian Pipes Co. by 3.35 percent to SR960 and Saudi Basic Industries Corp. by 2.65 percent to SR1,868.25. Over SR5.95 billion worth of SABIC shares changed hands yesterday.
Saudi Dairy & Foodstuff Co. (SADAFCO) and Almarai Group shares climbed 2.59 percent to SR614 and 0.82 percent to SR856.25, respectively. The Cement Index was down as shares of major companies such as Arab Cement and Yanbu Cement fell yesterday.
In the services sector, shares of Saudi Industrial Export Co. soared 10 percent to SR1,229.75 and Al-Mawashi Al-Mukairish United Co. by 4.28 to SR128.
However, shares of Tourism Enterprise Co. dropped 4.01 percent to SR575 and Ahmed H. Fitaihi Company by 3.08 percent to SR378 yesterday.
The Electricity and Telecom Indexes were higher yesterday. Shares of Saudi Electricity Co. (SEC) closed 5.27 percent up at SR149.75. Saudi Telecom Co. (STC) and Etihad Etisalat shares closed 1.44 percent and 6.49 percent higher at SR1,197 and SR771, respectively. Etisalat share trading reached SR2.66 billion.
The agriculture sector was in a negative territory; shares of all companies declined. Saudi Fisheries, Jouff Agriculture, Eastern Agriculture and Hail Agriculture shares were badly hit yesterday.
