The BMG Saudi Index went up on the last trading day this week, with a marginal increase of 0.8 percent to add 3.9 points, closing at 511.2 points. However, the market turnover declined by 9.1 percent to reach SR2.9 billion ($776 million) yesterday compared to SR3.2 billion ($854 million) on Tuesday.
All the sectors of the BMG Index closed on positive note, which helped the index revive its three days in a row losses.
The insurance sector witnessed a very strong increase by 6.8 percent, adding 65.1 points. The services sector came in second with a 3.8 percent jump, followed by the agricultural sector and then the industrial sector, which recorded upward movements of 0.8 percent and 0.4 percent, respectively.
Only three stocks witnessed losses in yesterday’s session. Malath Cooperative Insurance and Reinsurance Company’s stock was the best performer yesterday. Its shares closed 9.7 percent higher at SR139.
Despite the fall of a 0.2 percent decline in Saudi Basic Industries Corp. (SABIC’s) share to become the worst performer in yesterday’s session, closing at SR159 per share, the many upward moves across the index did not allow it to pull the Index down with it.
