Wednesday, 11 May 2011

Saudi index near-flat, but volumes surge - ArabianBusiness.com

Volumes hit a two-month high on Saudi Arabia's index TASI amid "comfortable" investor sentiment, but the benchmark ended little changed.

"We are still in a good mood because of good earnings that's why the market is comfortable and we don't see a big shift of trends," said a Riyadh-based fund manager who asked not to be identified.

Investor interest was spread across many sectors, with Alinma Development Bank leading trade. The bank rose 1 percent. Telco Zain Saudi climbed 1.4 percent.

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