JEDDAH: Saudi shares closed 1.07 percent higher on Saturday, with gains in all sectors after oil prices rose on Friday. The Tadawul All-Share Index (TASI) ended at 6,167 points and the petrochemical index closed 1 percent higher at 6,117 points.
Shares in petrochemical giant Saudi Basic Industries Corp. (SABIC) added 1.6 points.
The banking index also surged 1.3 percent to 14,363 points, led by gains in heavyweight Al-Rajhi Bank which added 1 percent.
The value of traded shares exceeded SR5.6 billion on Saturday.
The Saudi stock market suffered 1.92 percent fall in November. According to Tadawul's Monthly Statistical Report for November, released on Saturday on its website, TASI closed at 6,104.56 points at the end of November, down 119.74 points over the close of the previous month.
On an YTD basis TASI declined by 7.80 percent (516.19 points). Highest close level for the index during the month was 6,257.27 as on Nov. 13.
Total equity market capitalization at the end of November reached SR1.21 trillion ($322.76 billion), decreasing by 2.27 percent over the close of the previous month.
The total value of shares traded for the month of November declined by 28.20 percent to SR85.29 billion ($22.74 billion).
The total number of shares traded totaled 3.53 billion in November compared to 4.73 billion shares traded in October, decreasing by 25.33 percent.
The total number of transactions executed during November fell by 28.50 percent to reach 2.12 million compared to 2.97 million trades for the month of October.
© Arab News 2011
