The BMG Saudi Index started this week on a negative note, declining by 1.4 percent, to close yesterday’s trading session at 513.63 points. The market turnover advanced by 6.9 percent to reach SR6.3 billion ($1.7 billion), with most of the investments directed toward selling, forcing most of the stocks to depreciate in value.
The sectors in the index closed the first trading session of this week on the loser’s side, except for the insurance sector, which went up by 5.7 percent. The industrial sector was the worst performer, going down by 2.2 percent. Both the electricity sector and the agricultural sector followed, with 1.7 percent and 1.5 percent drop, respectively, in their closing levels. The services sector fell by 1.3 percent, while the telecommunications sector and the banking sector witnessed a drop in their levels by 0.9 percent and 0.5 percent, respectively.
The worst performing stock in the session was Saudi Kayan Petrochemical Company, with a 4.6 percent decrease in its share price to SR25.75 per share, whereas the best performer was Saudi Arabian Cooperative Insurance Company, with a 9.8 percent climb in its share price to SR92.25. The two leading shares, Saudi Basic Industries Corp. (SABIC) and Al-Rajhi Bank, were among the session’s losers, pulling the BMG Saudi Index down due to the decline in their share prices by 2.1 percent and 0.5 percent, respectively.