The BMG Saudi Index could not turnaround its performance in the last trading session this week and continued the downtrend seen all through the week, and fell by 1.1 percent yesterday, to close the session at 504.5 points. The market turnover, however, increased significantly, with a wave of profit-taking, reaching almost SR7 billion ($1.9 billion), up from SR4.1 billion ($1.1 billion) in Tuesday’s trading, an increase of 69.7 percent.
The Index sectors continued to move down, albeit more slowly than was seen earlier in the week. The Industrial sector moved down by 1.2 percent and was followed by the Agricultural sector which declined by 0.4 percent. The Services sector moved down, by a marginal 0.1%, while the Insurance sector’s points increased by 0.8 percent.
Ten stocks in the Index appreciated. The best performer in the market was Saudi IAIC Cooperative Insurance Company, with a 10 percent increase, to close at SR96.25 per share. The Saudi Industrial Export Company was the worst performer, as its share price deteriorated by 7.9 percent, to SR43.5 per share.
SABIC’s share price continued its downward trend, with a slower pace, declining by 1.4 percent, to reach SR161 per share.
