JEDDAH, 7 February 2008 — The BMG Saudi Index could not maintain its positive performance witnessed over the week and dropped yesterday by 3 percent to 506 points. The market turnover, however, was SR5.2 billion ($1.4 billion) yesterday compared to SR4.2 billion ($1.1 billion) in the previous session.
The BMG Saudi Index’s sectors landed on negative territory, except for the electricity sector, which saw no change. The banking sector witnessed minimal losses by 2.2 percent, compared to the other sectors. The industrial, insurance, telecommunications, agricultural, and services sectors all dropped yesterday.
All shares of the BMG Saudi Index depreciated, except for Saudi Electricity Company (SEC), which remained stable. SEC shares closed at SR13.5 yesterday.