Wealth Management by

“Eid booking” kicks off at Tadawul market

July 17, 2014 8:35 pm

Ten days before the end of Ramadan, the Tadawul All-Share Index closed 0.25 per cent lower at 9,786.58 points.

Yesterday, the bourse announced it will shut down trading from Friday, July 25th to August 2nd to mark Eid ul-Fitr, the festivities on the oaccasion of the end of fasting, Ramadan, in the Islamic world.

The exchange’s bellwether SABIC, the world’s biggest producer of petrochemical products slipped like the gauge by 0.25 per cent, ending at SAR116.25.

The shares of telecom firm Zain KSA dived 4.85 per cent to SAR 10. On Wednesday, Zain KSa said its six-month net loss decreased to SAR 647 million ($ 174.69 million)  from SAR  768 million ($ 207.36 million), an improvement of 15.76 per cent.

Saudi Automotive Services Co. or SASCO gained the most, finishing 4.60 per cent higher at SAR 32.80.

Gérard Al-Fil