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Sat 3 Nov 2012 12:37 PM

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Saudi shares close up on return from Eid holiday

All-share index rallies late on Saturday to end higher despite dip in banking, petchem stocks

Saudi shares close up on return from Eid holiday

Saudi shares closed up 0.14 percent after rallying from a late-morning dip on Saturday, despite slight losses in petrochemical and banking stocks on the first trading day after Eid al-Adha.

The all-share had dropped 0.39 percent in late morning trading but rallied steadily throughout the day.

Petrochemical shares dipped 0.08 percent and banking shares 0.41 percent as heavyweight Saudi Basic Industries Corp (SABIC) dropped 0.28 percent and Al Rajhi Bank lost 0.71 percent.

The Saudi market had been closed for a week for the Eid al-Adha holiday.

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