18/04/2009
The Saudi Stock Market saw 4 trading sessions last week in which the index rose over the 5,400 mark for the first time since the beginning of the year. This came as a result of some shareholding companies announcing their first quarter earnings for this year. The market index ended its 5th session down slightly at 5, 377 points as a result of normal profit earnings and self correction before the end of such a high run especially since most companies reached repeated record profits, even the banks.Despite the downturn in trading on the last day, the index recorded a relative increase of 6.7% which equals 338 points. Also liquid market investments surpassed 31 billion riyals which increased the depth of this year's market which is still increasing moderately indicating that the market will continue to rise unless other disturbances appear. All sectors went up last week because the multiple investment sector went up 10%. Next was the banking sector which went up 7%.
According to the BMG index trading was brisk and all sectors were in the green by the end of last week. The banking sector rose by 15%, agricultural sector rose by 7.1%, industrial sector by 5.3%, security sector rose by 3.9%, the services sector rose by 3.3%, and the communications sector rose by 2.8%.
The sector with the most trade value remains the industrial sector with 48% of all trading taking place within the sector last week. In second place was the banking sector with 22% of all trading. Next was the services sector with 13.2%, then the securities sector with 6.5%, followed by the communications sector with 6.0%, and finally the agricultural sector took last place with only 3.8%.
