Saudi soars on petchem, banking gains
Riyadh, September 17, 2011
Saudi shares closed 1.7 per cent higher on gains in the petrochemical and banking sectors on Saturday. The all index share closed at 6,173 points.
The stocks soared mainly due to the gains in the petrochemical index which added 2.7 per cent to 6,246 points.
Heavyweight Saudi Basic Industries (Sabic) gained 2.5 per cent and Saudi Fertilizers Co (Safco) added 3 per cent.
The banking index gained 1.2 per cent to 14,579 points, led by gains in heavyweight Al Rajhi Bank which added one per cent.
Earlier in the day the shares opened higher led by gains in the petrochemical and banking sectors.-Reuters