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Blue chips end down on Tadawul index.

Riyadh: The Saudi stock market continued its volatile performance last week with its daily average trading value pegged at 4.8 billion Saudi riyals (about Dh4.8 billion).

A number of blue chip stocks declined during the week. Al Rajhi and STC fell by six per cent, but recovered partly at the end of the week.

The Tadawul All Share Index closed at 9,367.52 on Wednesday, down by half per cent from last week. The index is 16.2 per cent lower than at the beginning of the year.

Trading value reached 27 billion riyals, down from the previous week's value of 38.1 billion riyals.

Mobile Telecommunications Company and Saudi Basic Industries Corporation dominated trading value followed by Rabigh Refining and Petrochemical Company.

Stock prices of 55 companies were up, while 47 companies were down. Among the top 10 blue-chips, the highest gains were posted by Saudi Electricity Company and Saudi Arabian Fertilisers Company as they rose 3.7 per cent and 2.4 per cent respectively.

The big losers were Al Rajhi Bank and Saudi Telecom, dropping 5.4 per cent and 4.2 per cent respectively.

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Publication:Gulf News (United Arab Emirates)
Date:Apr 5, 2008
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