KSE price index increases to 2.06 percent during week Technology sectors leads gainers list, ticks up by 4.30 pct

Kuwait Stock Exchange (KSE) ended last week in the green zone. The price index ended last week with a increase amounted to 2.06%, and the weighted advanced by 1.50% compared to the closings of the week before. In addition KSX-15 index increased be 2.01%. Furthermore, last week’s average daily turnover increased by 63.83%, compared to the preceding week, reaching KD 22.49 million, whereas trading volume average was 259.89 million shares, recording increase of 65.90%. As far as the trading activity, Kuwait Stock Market started the week at slow pace, which accelerated thereafter due to the calm political environment.  As a result, a random purchasing activity started to appear on a wide ray of large-cap and small-cap stocks, however, the gains decreased the day after due to the profit taking trend which came as an adverse reaction and caused the market gains to shrink significantly.

Moreover, the stock market was able to return to its positive performance the last two days of the week, where a selective purchasing activity was reactivated, and concentrated on small-cap stocks, which positively affected the market and enabled it to close in the green zone. For the annual performance, the price index ended last week recording 0.72% annual loss compared to its closing in 2011, while the weighted index increased by 0.81%, and the KSX-15 recorded 0.59% decrease compared to its value at inception. By the end of the week, the price index closed at 5,772.17 points, up by 2.06% from the week before closing, whereas the weighted index registered a 1.50% weekly gain after closing at 408.90 points. Moreover, the KSX-15 index closed at 994.14 points, increasing with 2.01%.

Sectors’ Indices
Eight of KSE’s sectors ended last week in the green zone, while the others recorded losses. The Health Care sector headed the losers list as its index declined by 5.21% to end the week’s activity at 923.99 points. While the Consumer Goods was the least, when its index closed at 976.09, down by 0.43%. On the Other hand, The Technology sector headed the gainers list, after its index closed at 880.20 points, to increase by 4.30%. The Real Estate sector was the second on the list, as its index closed at 948.26 points, rup by 4.23%. The Financial Services came in the third place, after its index closed at 809.05 points, to increase by 2.96%. The Basic Materials sector was the least on the gainers’ list, which index advanced by 0.39%, closing at 981.38 points.

Sectors’ Activity
The Financial Services sector dominated total trade volume during last week with 541.39 million shares changing hands, representing 41.66% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 31.31% of last week’s total trading volume, with a total of 406.86 million shares.
On the other hand, the Banks sector’s stocks were the highest traded in terms of value; with a turnover of KD 32.35 million or 28.36% of last week’s total market trading value. The Financial Services sector took the second place as the sector’s last week turnover of KD 30.16 million represented 26.82% of the total market trading value.

For further details, please visit our web site: www.bayaninvest.com


By: Bayan Investment

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