KUWAIT CITY, Dec 27: Volatility set the tone of trading in Kuwait stocks Monday when the index see-sawed to close 12.5 points up. The gain was 0.2 percent. Frontline banking scrips paced the index to a green close at 6,918.5 points, as volumes continued to gain weight showing a 27.8 percent increase since Sunday.
National Bank of Kuwait, Gulf Bank and Kuwait Finance House extended gains. Three out of the eight sectoral indices were in green, with the banking sector leading at 139.3 points. The top winner was a realty stock, while an investment stock bottomed with the steepest slide. Credit Rating and Collection Company from the services sector equaled the top winner at 10 percent.
KIPCO Asset Management Company did not trade, while Global Investment House lost 3 fils to close 55 fils on the back of 7 million shares. Global Investment House slipped 5.17 percent to become the third worst loser in the market.

Strategia Investment Company announced the approval of the Ministry of Commerce and Industry on Nov 28, 2010 to establish ‘Strategia Islamic Fund’ with a capital of KD 5 Mill minimum — KD 100 Mill maximum. The fund is to invest in Islamic companies listed at KSE and GCC Financial markets.
The investment sector was clearly showing an inclination to sell. National Investment Company sold 2.6 million shares losing 15 fils per share. It ended 465 fils. Kuwait Projects Company was down by 5 fils to close 430 fils on the back of half a million shares.
Mabanee Company among realtors clocked relatively high gains taking in 10 fils to close 830 fils. Jeezan Holding Company sold the biggest volume of 24.8 million shares and topped the market charts. Jeezan closed 55 fils after gaining 1 fil.
Dar Al Thuraya Real Estate Company announced selling of an investment property in Al Jahra area for KD 1.485 million, generating a profit amounting to KD 264.5 thousand which will appear in the results of the fourth quarter ending December 31, 2010.

Logistic company Agility reversed its Sunday’s gains losing 10 fils to close 520 fils. It sold 1.7 million shares. Zain surged clocking 20 fils closing KD 1.560 on the back of 2.3 millions shares.
Last week, a Kuwaiti court dismissed a lawsuit from Al Fawares Holding, a Zain shareholding, with 4.5 percent stake, clearing a main obstacle in the sale deal. Al Fawares had sought legal recourse to halt the due diligence process by Etisalat.
National Mobile Telecommunications Company remained unmoved throughout the trading session to close KD 1.900. Credit Rating and Collection Company took in 25 fils, 10 percent, to close 275 fils. The stock bottomed at 270 fils in mid trade.
Kuwait bourse took cue from regional expectations of treading water on Monday. The region was tracking Asian markets and easing oil prices, as investors stayed on the sidelines due to a lack of momentum and liquidity.

Oil eased from two-year highs, as uncertainty over Chinese fuel demand growth following a Christmas Day interest rate hike overshadowed a cold snap in the US Northeast.
The market sold a total of 284.1 million shares, up 27.5 percent from previous day’s volume, through a little over 4,700 deals. The market value stood at KD 73.6 million, climbing 123 percent.
The banking sector showed the most significant surge of 1.2 percent paced by National Bank of Kuwait’s 4.3 percent gain to close KD 1.440. The bank took in 60 fils. NBK was also the best seller in the sector pushing 18.5 million shares. The mood at banking counters was upbeat and confident.
The banking sector’s overall volume increased nearly 290 percent as 52.4 million shares changed hands for KD 45.5 million. The value was up 107 percent. Four out of five top value generators in the market came from the banking sector.

National Bank of Kuwait led the list at KD 26.1 million. Kuwait Finance House made KD 5.7 million, followed by Gulf Bank of Kuwait at 4.4 million. Kuwait International Bank earned KD 4.4 million. The fifth biggest earner was Zain at KD 3.1 million.
National Bank of Kuwait was the third biggest seller of the day. Jeezan Holding Company was the top seller at 24.8 million shares, followed by Abyar Real Estate Development Company at 22 million shares. Abyaar Real Estate Company gained 1.5 fils to close 35 fils. Hits Telecom Holding Company sold 15.6 millions shares to stake the fourth place, while Boubyan International Industries Holding Company sold 14.5 million shares. The investment sector was down 0.5 percent and sold the market’s second highest volume of 67.8 million shares. The selling bias pushed the volume up by 17.3 percent, accounting for 25 percent of the total market volume.

The investment sector made KD 5.4 million from its transactions. Fifteen investment stocks lost on Monday with Global Investment House and National Investment Company being the most prominent losers. Global was the thirst worst loser in the market.
Industrial and Financial Company led the list of losers shedding 11.4 percent. It closed 38.5 fils after taking out 5 fils. Yiaco Medical Company was the second heaviest loser at 7.6 percent.
It shed 25 fils to close 300 fils. In fourth place, following Global Investment House, was Al Maal Investment Company at 4.7 percent, while Al Safwa Group Company ended 4 percent down.
The day’s top winner was from the realty sector. The sector’s index moved 0.5 percent up on the back of 68.7 million shares, the biggest volume in the market. The increase in volume was 142 percent, and value climbed 66 percent amounting KD 4 million.

Ajwan Gulf Real Estate Company and Credit Rating and Collection Company were the best winners of the day at 10 percent apiece. Pearl of Kuwait Real Estate Company was up 8.4 percent, followed by Nafais Holding Company at 7.6 percent and Housing Finance Company at 7.5 percent.
The industrial stocks suffered some serious setbacks. The sector was down 0.1 percent after selling 24.5 million shares worth KD 5.5 million. The volume was up 188 percent, while value rose 148 percent. Kuwait Portland Cements was the biggest loser in terms of fils. The loss was 40 fils.
The services sector climbed 0.5 percent. It’s the only sector other than the food sector to record a drop in volume compared to the previous trading day. It sold 39 percent lesser volume pushing 63.2 million shares for KD 12 million.