Sluggish trading pulls Saudi bourse slightly down

12 July 2010

The Tadawul All Share Index (Tasi) fell by 0.39% and ended at 6,216.7 points. The insurance sector index (up 1.69%) bucked the trend and topped the Tasi industry segments. Market bellwether Sabic (off 1.38% at SR89.25) took a break from its quick surge after the petrochemical giant gained over nine percent during the last six trading days. Shares of the multi-industrial conglomerate Zamil Industrial Investment plummeted 2.23% and finished at SR43.80. Zamil Steel Towers & Galvanizing (T&G) Division, a sector business of Zamil Industrial, announced that it has begun trial production operations at the company's new galvanizing plant in Dammam Second Industrial City. The new plant is expected to maintain a production capacity of 50 thousand tons per year, increasing the annual galvanizing capacity of Zamil Steel to 75 thousand tons. The total investment in the new plant is SR40m or $10.7m.

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