Tadawul market dips slightly

28 September 2010

The Tadawul bourse’s benchmark index Tasi closed 0.74% lower at 6,403.93. Petrochemicals, IT firms and retailers posted the largest sector losses. Market bellwether Saudi Basic Industries Corporation (Sabic) declined by 1.10% to finish at SR90. Shares of Southern Province Cement added 1.13% to close at SR67.00. According to Global Investment House in Kuwait, in relation to cement sales “Saudi Arabia was the only GCC country to witness a higher sales revenue in 1H-2010, as sales increased 5.5% to reach US$1.13bn, as compared Kuwait, Qatar, UAE and Oman witnessed a severe decrease in sales revenue by 31.6%, 24.5%, 33.5% and 27.2% respectively.”

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