Nov 23 2007 |
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Saudi Arabia's Tadawul gains 1,360 points in four weeks
Friday, Nov 23, 2007
Riyadh: The Saudi stock market has gained around 1,360 points or 17 per cent in the last four weeks.
The Tadawul All Share Index started this week with a slight drop shedding about 130 points or 1.4 per cent.
The index, however, recovered to close at 9,518.87 points on Wednesday, the last trading day of the week. It ended up 2.7 per cent from last week.
The Tadawul index has seen a steady rise of 22 per cent since October 6 backed by the positive performance of listed companies.
Saudi Basic Industries Corporation (Sabic) and Saudi Kayan Petrochemical shares were traded the most at six per cent each. Al Rajhi bank came in second at three per cent.
A total of 310.5 million shares were traded through 223,000 transactions this week. On Wednesday, the value of the traded shares reached 11.6 billion riyals. The shares of 58 companies gained while 31 companies declined.
Sector-wise, agriculture gained 3.8 per cent, electricity 3.77 per cent, banking 1.48 percent and cement 1.25 per cent.
Industry topped in sector-wise trading value with 37 per cent, services had 25 per cent, insurance had 18 per cent, agriculture eight per cent, banking six per cent, while communications, cement and electricity accounted for two per cent.
Arriyadh Development was the top gainer while Allied Cooperative Insurance Group was the top loser this week.
© Gulf News 2007. All rights reserved.
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