The BMG Saudi Index moved ahead in the first trading session this week, recording another high since March 2007, on the back of a wave of buying and solid third quarter results. The Index advanced by 3.2 percent yesterday’s trading session to close at 459.1 points. In addition, the market turnover moved up, reaching SR4.4 billion ($1.2 billion), rising significantly, by 58 percent, from Wednesday’s turnover.
All of the Industrial sector’s constituent shares improved to push the Index and the sector into positive territory. The Industrial sector advanced by 3.3 percent and gained 32.5 points to outperform all the other sectors. The Services sector came in second, and rose by 3 percent. The Agricultural sector gained 2.5 percent, while the Insurance sector moved down by 0.4 percent.
Only 2 stocks in the BMG Index closed on a negative note. The rest of the stocks in the index went up, topped by MEDGULF, which climbed by 10 percent to close at SR52.25 per share. The worst performing stock was Malath Insurance, going down by 4.2 percent to reach SR141.75 per share. SABIC, the largest cap stock in the Index, rose by 2.9 percent to close at SR143.5 per share.
