Tadawul market starts the month modestly

02 October 2010

The Riyadh-based Tadawul exchange added 4.77 points or 0.07% to close at 6,397.16. Only the insurance sector surged over one percent while other segments ended on a mixed note. The Mediterranean & Gulf Insurance & Reinsurance Co. surged 6.75% to finish as a top gainer at SR26.90. Shares of market bellwether and petrochemical giant Sabic dipped 0.56%, ending at SR89.25. Saudi Electricity Company closed flat at SR14.60. Last Thursday, Arab News reported that Saudi Electricity has awarded South Korea's Doosan Heavy Industries and Construction Co the contract for a SR12.75bn ($3.4bn) power plant to meet the growing power demand in the provinces of Makkah and Madinah in the Western region of the Kingdom.

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