Saudi stocks up over 4%

Author: 
Khalil Hanware | Arab News
Publication Date: 
Sun, 2008-12-14 03:00

JEDDAH: After a break for Eid Al-Adha, the Saudi stock market showed positive performance on the first day of trading yesterday. The Tadawul All-Share Index (TASI) jumped 4.09 percent or 190.37 points to close at 4,845.25. However, the index is still down 56.11 percent so far this year.

Out of 125 companies traded, only four companies were in the red. The stock market turnover crossed SR5 billion yesterday. Qassim Agriculture was the top gainer as its shares surged 9.92 percent to SR7.20.

Saudi Basic Industries Corp. (SABIC) shares edged higher by 9.85 percent to close at SR58.50 yesterday.

Alinma Bank was most active by value as shares worth SR1.12 billion changed hands yesterday.

In the banks & financial service sector, shares in Banque Saudi Fransi plunged 3.22 percent to SR48.

Al-Rajhi Bank shares edged higher by 5.26 percent to SR60.

In the telecom sector, shares in Saudi Telecom Co. (STC) increased by 3.16 percent to SR49, Etihad Etisalat by 5.71 percent to SR25 and Zain KSA by 3.92 percent to SR10.60.

Strong performance

The 30-share BMG Saudi Index started the week with a strong increase of 5.31 percent to 242.86 points in yesterday’s trading session. The total turnover also increased by 8 percent to SR4.2 billion ($1.1 billion). The total number of shares traded also appreciated by 17.4 percent to 232.2 million shares versus 197.8 million in the previous session.

Main category: 
Old Categories: