The BMG Saudi Index increased by 21.2 points or 4.6 percent to 487.2 points yesterday. The market turnover, however, continued its negative performance from the previous session declining by 2.2 percent to SR3.7 billion ($998 million).
All of the BMG Index’s sectors witnessed gains. The best performer was the industrial sector, advancing by 5.7 percent, to be followed with a 4.5 percent increase by the banking sector. The insurance sector climbed up by 4.3 percent, while the telecommunications sector increased by 2.5 percent.
The agricultural, electricity and services sectors appreciated by 2.2 percent, 1.9 percent, and 1.7 percent, respectively.
Saudi Basic Industries Corp. (SABIC) and Al-Rajhi Bank experienced jumps in their share prices by 6.2 percent and 4.7 percent, respectively.