Saudi stock market moves downward

Published December 6th, 2000 - 02:00 GMT

Despite the continuously rising international oil prices and the $13 billion projected Saudi budget deficit by the end of this year, the local stock exchange continued to move downward for the third week in a row.  

 

According to Al-Hayat newspaper, the Saudi Securities Market reported decreases in terms of the traded shares number, value and the number of the executed transactions last week, ended November 30. The local share price index closed at 2,274.76 points last week, ended November 30, compared to 2,298.31 points by the end of previous week. These figures translate into a 246-point fall, which is equivalent to 12.1 percent. 

 

The value of the traded shares on the Saudi Stock Exchange declined to SR 905.7 million ($241.5 million) last week, ended November 30, down from SR 1.088 billion ($290.29 million) in the previous week, ended November 23. These figures translate into a 17 percent fall.  

 

The Saudi Stock Exchange Authority reported that the volume of the traded shares on the Saudi Securities Market declined to 5.16 million shares last week, ended November 30, down from 6.84 million shares in the previous week, ended November 23. These figures translate into a 24 percent fall. —(Albawaba-MEBG) 


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