The BMG Saudi Index switched in terms of performance again on the third day of trading this week to gain 7.77 points, recovering from Sunday’s 0.56 points loss, after Saturday’s gain. The index closed in yesterday’s session at 448.6 points, advancing by 1.8 percent compared to Sunday’s session, and also exceeding Saturday’s closing level of 441.39 points, the best closing level achieved since March 2007. The market turnover also moved ahead, and all of this pushed the index up and also increased overall turnover by SR287 million, or 44.6 percent, to reach SR3.2 billion ($856 million).
The insurance sector was the solo loser on yesterday’s session, as it moved backward by 17.65 points, to record a decline of 1.9 percent. However, all the other sectors improved their performances. The agricultural sector performed well and witnessed a jump of 2.3 percent. The industrial sector came in next, followed by the services sector, recording increases of 1.9 and 0.7 percent, respectively. Only 4 stocks in the BMG Index closed on a negative note, while the rest moved upward. Saudi Basic Industries Corp. (SABIC) improved by 1.6 percent to close at SR142.25 per share. The best performing stock was Saudi Kayan Petrochemical Industries, a constituent of the industrial sector, with a percentage change in its share price of positive 5.9 percent, closing at SR13.5 per share. The United Insurance Cooperative Company stock was the worst performer with a loss of 7.2 percent in its share price, closing the session at SR135.5 per share.