Khalil Hanware
Arab News
JEDDAH — The Saudi stock market rose slightly yesterday. The Tadawul All-Share Index (TASI) closed 48.30 points higher at 7,873.33.
In the banking sector, shares of Al-Rajhi Bank and Arab National Bank edged higher yesterday. Shares of Saudi Hollandi Bank fell by 1.50 percent, Banque Saudi Fransi by 1.41 percent, Samba Financial Group by 0.81 percent and The Saudi Investment Bank by 0.62 percent.
The telecom shares were in the limelight yesterday. Saudi Telecom Co. shares jumped 3.08 percent to SR67 and Etihad Etisalat shares rose 2.34 percent to SR65.50.
In the insurance sector, shares of Saudi IAIC Cooperative Insurance Co. soared by 7.38 percent to SR123.75, AlAhli Takaful Company by 5.35 percent to SR197 and the Mediterranean & Gulf Insurance & Reinsurance Co. by 4 percent to SR52.
The stock market turnover was over SR5.74 billion yesterday.
The CMA announced yesterday that the Saudi stock market will be closed on Sunday for Saudi National Day holiday.
BMG Index Edges Higher Again <\b>
The BMG Saudi Index saw a positive performance for the second consecutive trading day yesterday, with the index rising by 0.8 percent from Monday’s close, to reach 410.47 points in yesterday’s trading session versus 407.07 at the close of Monday’s trading session. However, the total index turnover fell by 13.3 percent to SR2.2 billion ($585 million).
There was a mixed performance from the various sectors in yesterday’s trading session. The industrial sector was the only positive mover, rising slightly by 0.4 percent. However, both the services and agricultural sectors moved down by 0.4 percent and 0.3 percent, respectively. Al-Rajhi Bank and Saudi Basic Industries Corp. (SABIC) shares both moved upward in yesterday’s trading session.
