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MENAFN - 08/01/2006

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(MENAFN) Saudi stocks surged to a new record high yesterday as the Tadawul All-Share Index (TASI) broke the 17,500 barrier and closed at 17,546.76, Arab News reported.

Over 6.5 billion worth of shares were traded yesterday. Out of 77 stocks traded, 52 were up while 21 were down yesterday. The Industrial Index was down while all other indexes edged higher.

The Banking Index was up by 124.10 points at 42,446.06 despite a fall in the share prices of some leading Saudi banks.

In the cement sector, shares of Southern Cement rose 3.39 percent, followed by Yamamah Cement by 2.79 percent. Shares of Saudi Cement, Qassim Cement, Yanbu Cement and Eastern cement edged lower yesterday.

The Insurance Index closed 196.28 points higher at 2,208.31 as the National Company for Cooperative Insurance (NCCI) shares made hefty gain of 9.76 percent.

In the agriculture sector, Bishah Agriculture shares soared 10 percent and Eastern Agriculture by 7.93 percent.

 






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