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KSA: Tadawul Index up 5.05%
- Saudi Arabia: Saturday, January 24 - 2009 at 18:33
The Saudi stock market switched to a bullish mood at the start of a new week. The Riyadh-based TASI-index closed 5.05% higher at 4786.83 points on strong volumes (351,717,568 shares changed hands). Overall, 123 shares advanced and only 2 declined. National Industrialization Co. climbed 10%, as well as Al Ahsa, Thim'ar and Saqr Insurance. Only Saudi Fransi insurance (down 2.91%) and Al Mojil Group (0.83% lower) lost value. The index got a boost when Standard and Poor's affirmed the 'A'-Rating (outlook: stable) of market petrochemical giant SABIC (up 8.84%). SABIC is considered a GCC market bellwether.
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Gérard Al-Fil, Financial JournalistSaturday, January 24 - 2009 at 18:33 UAE local time (GMT+4)
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This article was updated on Sun Jan 25 2009.
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