The Saudi stock market posted a record 103.66 percent growth and turnover reached $1.10 trillion in 2005.

Investors ended the last trading day of 2005 on a positive note that the Arab world's largest bourse would continue to rise further in the wake of rising oil revenues and higher Saudi confidence as well as the economic boom, especially in the real estate sector.

The Saudi Stock Index ended the year at 16,712.64 points, up 103.66 percent from 8,206.23 at the end of 2004. The stock index hit a record high of 16,988.08 points on December 15.

The volume of trade jumped 19.26 percent to 12.28 billion shares during the year from 10.3 billion in 2004 and the number of deals soared 250 percent to 46.61 million from 13.32 million.

The stock market registered an outstanding performance last year, thanks to the surge in oil prices and a record surplus in the federal budget.

The general budget of the year, the highest in the kingdom's history, predicted a record surplus of $64 billion.