We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Sat 14 Nov 2009 12:57 PM

Font Size

- Aa +

Saudi shares end higher on banks, telcos

All-share TASI index closes a volatile session 0.68% higher at 6,296 points.

Saudi shares end higher on banks, telcos
STOCK WATCH: Most significant gains were made by banking stocks.(Getty Images)

Saudi shares ended higher, helped mainly by gains in telecom and banking stocks, whose year-to-date gains are weaker than the other heavyweight sector of petrochemical firms.

The all-share TASI index closed a volatile session 0.68 percent higher at 6,296 points, its highest level since Nov 8.

Most significant gains were made by banking stocks with the two- biggest listed lenders
Al-Rajhi Bank

Samba Financial Group

adding 2 percent and 1.5 percent higher respectively.

Largest-listed telecom stock
Saudi Telecom

ended 1.5 percent higher, while the market's biggest company by market capitalisation,
Saudi Basic Industries Corp (SABIC)

ended unchanged at 81.5 riyals.

On a year-to-date basis, the banking and financial stocks index gained 22.7 percent and the telecoms index rose 13.2 percent. This compared with 31.1 percent for the all-share TASI index and 67.7 percent for the petrochemical index. (Reuters)

Arabian Business: why we're going behind a paywall

For all the latest market news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.