Continuing the trend of last week, the BMG Saudi Index went down on the first trading day this week with a marginal decrease of 0.2 percent. The index closed at 510.1 points compared to 511.2 points on Wednesday.
In addition, the market turnover declined sharply by 28.1 percent from Wednesday’s turnover to SR2.1 billion ($558 million).
All the sectors of the BMG Index closed on negative notes except for the insurance sector, which advanced by 30.2 points or by 3 percent. The services sector was the biggest loser with a decline of 1.8 percent; followed by the agricultural sector losing 1.4 percent, and finally, the industrial sector came in last with a very marginal decrease of 0.1 percent in its number of points.
Despite the increase in the price share of the largest market cap stock in the index, SABIC’s index was not able to land on positive territory due to the deterioration in prices of 19 stocks in the index.
The best performer in yesterday’s session was the Mediterranean & Gulf Insurance & Reinsurance Company stock, which moved ahead by 1.8 percent to close at SR56.5 per share; while the worst performer was Qassim Agriculture Company stock, which went down by 4.1 percent to closed at SR23.25 per share.