JEDDAH — The BMG Saudi Index decreased by 1.2 percent in yesterday’s trading session. The Index’s closing level depreciated to reach 290.43 points, with the total value traded appreciating by 11 percent to reach SR2.5 billion (SR655 million) versus SR2.2 billion ($590 million) traded in Sunday’s session.
All the sectors ended the session in negative territory. The worst performing sector was the insurance sector, going down by a strong 5.2 percent, whereas the industrial sector went down by 1.5 percent. The banking sector followed, moving down by 1.3 percent, whereas the telecommunications sector lost 0.7 percent of its previous closing level, and the services sector decreased by 0.1 percent.
Twenty-one shares went down, whereas six shares went up, and three shares stood still. Maltah Cooperative Insurance and Reinsurance Company registered the worst performance, plunging by 6.7 percent to reach SR36 per share. Al-Babtain Power and Telecommunication Co. registered the best performance, increasing by 6.5 percent to reach SR73.50 per share. Both SABIC and Al-Rajhi Bank, the Index’s two leading shares, witnessed a negative performance, with Al-Rajhi Bank decreasing by 1.4 percent to SR68.25 per share, whereas SABIC descended by 2.6 percent to reach SR66.25, pulling the whole index down, given their heavy weights in the Index.
