Saudi Stock Market daily trade value reaches $586 million

Published April 2nd, 2003 - 03:00 GMT

The Saudi Arabian Stock Market recorded a daily traded value of shares of 2.19 billions Saudi riyals ($585.8 million) on Monday. Daily trade volume reached 28.25 million shares and the daily number of trades reached 13,967.

The Tadawul All Share Index (TASI) increased by 1.44 percent on the day, 8.14 percent during March and 10.37 percent from the beginning of the year. The most actively traded stock was the Saudi Electricity Company, with 10.5 million shares changing hands worth over SR 591 million ($158 million). The company's share price increased by 6.54 percent.

Following the introduction of new market infrastructure Tadawul, the consolidation of the nation’s nine electricity companies into one company and the successful public flotation of 90 million shares, worth SR 15.3 billion in the Saudi Telecom Company market volumes have increased significantly.

Market capitalization reached over SR 367 billion, confirming the Saudi Arabian market as the largest in the region. — (menareport.com)