Saudi Stock Exchange advances slightly

27/03/2011 00:00 AST

The Riyadh-based Tadawul All Share Index (TASI) finished 0.21% higher at 6,519.76. Arabian Pipes Company was the top gainer, closing 9.96% higher at SR29.80. Saudi Arabia is the largest oil exporting country in the world. Citibank-analyst David Lubin comments in his latest oil study on Saudi Arabia: "Pressure on oil exporting countries to spend seems to have increased recently as a result of the political pressures created by the 'Arab Spring'. The most visible effort to increase spending in the face of political pressure has been Saudi Arabia's, where the authorities have committed to two successive fiscal packages, of $37bn and $80bn respectively: the two add up to some 25% GDP. In addition, higher levels of oil production in Saudi Arabia, to offset that lost from Libya, should boost Saudi GDP growth this year." Oil prices continued to trade above $115 per barrel. Market bellwether SABIC dipped by a quarter percent on profit bookings, closing at SR103.25.


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SABIC 114.77 5,915,941
SAMBA 26.98 1,138,683
DARALARKAN 13.47 74,648,349

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TASI 7,871.67 71.90 (0.92%)

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SABIC 114.77 0.02 (0.01%)
STC 83.41 2.09 (2.57%)
NCB 64.98 0.35 (0.54%)
RJHI 76.03 0.78 (1.03%)
SECO 20.62 0.12 (0.58%)

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