KUWAIT CITY, Aug 22: Kuwait stocks gained 0.3 percent Monday adding 16.6 points to close 5,780.9 points. The sectors closed mixed, with the banking and services posting 0.5 percent increases, while insurance and food sectors suffered losses. National Bank of Kuwait won 6 percent and became the fifth best winner in the market. Kuwait Finance House shed more than 1 percent. Zain moved 1 percent up and dropped 1 percent. The market index was largely paced by blue chips as 71.6 million shares changed hands totally for KD 15.1 million. Volume surged 10 percent compared to Sunday. Value dropped 8.6 percent. National Bank of Kuwait closed KD 1.060 after taking in 60 fils. It sold 6.7 million shares for KD 6.9 million. Gulf Bank of Kuwait gained 5 fils to close 475 fils. It sold 0.2 million shares for KD 0.1 million. Commercial Bank of Kuwait suffered a setback of 10 fils ending 820 fils, for a volume of 0.1 million shares worth KD 81.9 thousand.

Ahli United Bank, Kuwait International Bank and Burgan Bank closed flat. Ahli United Bank ended 900 fils, Kuwait International Bank 260 fils and Burgan Bank 450 fils.
Kuwait Finance House fell 10 fils to close 890 fils selling 0.17 million shares for KD 0.15 million. The best seller in the banking sector was National Bank of Kuwait that sold 6.7 million shares. Kuwait International Bank sold 6.2 million shares.
The investment sector inched up 0.1 percent on the back of 6.1 million shares, traded for a little more than half a million KD. The volume was up 9.7 percent and value 12.3 percent. The investment sector accounted for 8.5 percent of the total market volume.
Commercial Facilities Company took in 5 fils to end 275 fils. It sold 0.19 million shares. National Investment Company moved sideways to end 180 fils on the back of 1.4 million shares worth KD 0.26 million.

Kuwait Projects Company dipped 5 fils to close 315 fils, selling 0.15 million shares.
Kuwait Financial Centre, Markaz, announced the results of the first half of 2011 Sunday. Markaz posted a Net Profit of KD 750,000 and a 2 fils EPS in H1 2011 compared to KD 1.44 million and a fil EPS for the same period of 2010. Short term debt is KD 5.02 million where as Total Debt is KD 32.51 million representing 5.6 percent and 36.6 percent respectively of Total Equity.
The Total Equity grew by 7 percent compared to the same period of 2010 and accounted to KD 89.79 million.
Markaz AUM for H1 2011 is KD 906 million. Chairman & Managing Director Diraar Al Ghanim said markets performed well in the beginning of Q2 but market volatility continued due to US debt struggle, Europe’s sovereign debt crisis and the fall of oil prices affected the region’s markets and had a severe negative sentiment on investors.
‘Although regional countries generally are surplus countries and not shortage countries, the big challenge for decision makers in Kuwait and the Gulf is to channel these surpluses to development projects that will help the region’s population and create new investment opportunities,’ he added.

In the first half of this year, KAMCO recorded a total revenue of KD 6.06 million. Total shareholders’ equity reached KD 87.55 million while total assets reached KD 154.08 million by the end of the second quarter. Assets under management reached KD 2.16 billion. Board of Directors of Gulf Rocks Company approved the financial statements for the H1 period ending June 30, 2011, dated Aug 16, 2011.
The company incurred a loss of KD 1,803,026 for the three months ending June 30, 2011 compared to a profit of KD 206,464 for the three months ending June 30, 2010. Total revenue from transactions with related parties is worth KD 192,880 and total expenses amounts to KD 906,733.
The real estate sector swung 0.5 percent up selling 15 million shares for KD 1.1 million. The sectoral volume gained 45.9 percent, and value declined 14 percent. The sector accounted for 15.9 percent of the total market volume.

Kuwait Real Estate Company closed 44.5 fils, moving sideways. National Real Estate Company climbed 4 fils to end 60 fils. It sold 0.6 million shares. Mabanee Company made a gain of more than 2 percent to end 800 fils. It sold 0.75 million shares.
Investors Holding Group closed flat at 11.5 fils, International Resorts Company closed 26 fils after appreciating 0.5 fils, while Commercial Real Estate Company ended 73 fils moving sideways.
The services sector sold the market’s biggest volume Monday. It sold 30.9 million shares for KD 2.9 million. The services sector sold 33.4 percent greater volume compared to the previous day.
Agility took in 10 fils to close 260 fils on the back of 0.3 million shares. Mobile Telecommunication Company also gained 10 fils. It sold 1.1 million shares and close 940 fils. Wataniya lost 20 fils to close KD 1.980.

Global Investment House Company was the market’s best winner at 11.6 percent. National Ranges Company gained 8.3 percent, while National Real Estate Company moved 7.1 percent up. Heavy Engineering Industries and Shipbuilding Company moved 6 percent up, tied by National Bank of Kuwait.
Alrai Media Group Company fell 6.9 percent, the heaviest slide in the market Monday. Hits Telecom Holding Company slipped 5.7 percent. Warba Insurance Company fell 5.2 percent. Gulf Petroleum Investment Company was down 4.8 percent and Al Deera Holding Company fell 4.1 percent.