The BMG Saudi Index recorded the highest increase this week on the last day of trading this week, with a jump of 2.7 percent, as the index closed at 425.79 points. This closing level was last crossed 5 weeks ago. Along with this optimistic increase in the index’s number of points, the total market turnover yesterday added up approximately SR427 million ($114.3 million) to reach SR1.6 billion ($439 million), after a few days of poor turnover.
All sectors landed on positive territory. The Insurance sector outperformed all other sectors in the index, increasing by 7.1 percent, with 59.43 extra points added. The Industrial sector followed, after being the best performer for two
consecutive days and moved ahead by 2.7 percent. The Services sector went up by 1.2 percent, while the Agricultural sector was the worst performer going up by only 0.3 percent.
SABIC, the index’s largest cap stock, was the main contributor to the index’s advance. It recorded a very strong 2.7 percent increase in its share price to close at SR135 per share — the highest price the shares have reached in over a year. Only four stocks in the index registered price losses, while the rest moved ahead.
