14/03/2010
Saudi Arabia's index closed at its highest level since October 2008
With a strong support from the construction sector
The Saudi stock market ended trading yesterday up to 18 points, or 0.27%, among a strong support from many sectors, led by construction, petrochemical and banking, the market index reached of the level of 6583 points, its highest level since October 2008, very close to access 6600 points.
The Saudi market ended the trading on Wednesday on a rise of 0.55% at 6566 points, adding to its previous level about 36 points, the total value of trades in the market 2.68 billion riyals, distributed 102.2 million shares were traded through 70 thousand and 176 transaction, Shares of 71 companies contributed to the low 41 other company.
The construction sector rose to 2.55, petrochemical up to 0.25%, amid strong support from a number of the sector shares.
Allianz Insurance Company shares rose up to 2.36%, after being at the top of the lowest shares the last week.
Cable Shares increased to 1.78%, supported by the group announcement of receiving the request to buy about 85 million Saudi riyals from East European countries for the supply of high voltage cables.
Due to the importance of this project, it has been agreed to supply these cables within six months, the company will continue to fulfill its major customers
The return of this process will be reflected on the company's shareholders benefit and investors, and the financial impact will be shown in the company's results this year.
