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Tadawul bourse ends flat at 6,090.87 points

22 August 2010

The Saudi Arabian stock market only stabilised in a volatile trading on Sunday despite 73 gaining shares outnumbered 47 losers. Shares of August 9 listed Knowledge Economic City (KEC) rebounded by 1.14% at SR8.90. KEC stocks were issued at SR10 in a May IPO this year worth $272m. Sabic was the most liquid stock, as the market bellwether added 0.59% and finished at SR85. Twenty-four stocks ended flat in Riyadh. The Tadawul market touched a one-month low after oil prices weakened to $73. Credit Suisse research writes in its latest commodity market analysis that "amid still lacklustre US demand, we see little chance of a break out of the USD 70-80 range for the time being."

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