KSE price index ends week in green, up by 1.51% Telecommunications sector heads gainers list

Kuwait Stock Exchange (KSE) ended last week in the green zone. The price index ended last week with an increase amounted to 1.51%, and the weighted index advanced by 2.06% compared to the closings of the week before. In addition KSX-15 index increased by 2.54%. Furthermore, last week’s average daily turnover increased by 10.25%, compared to the preceding week, reaching KD 32.77 million, whereas trading volume average was 388.07 million shares, recording decrease of 5.64%. Furthermore, the market was able to continue its ascending direction supported by the strong purchasing operations during most of the week’s sessions, and included many large-cap and small-cap stocks.

This behavior enabled the market indices to realize gains, especially the Price Index, which was able to compensate all its losses for the year, and ended the week in the green zone realizing gains of 1.27%.
Moreover, all market indices started the week with a negative performance at mixed declining rate due to the profit collection operations and quick speculations on small-cap stocks; however, the market was able to divert its direction and improve its performance supported by the purchasing power to a large number of listed stocks and large-cap stocks, in line with the national portfolio contribution, which supported the purchasing activity in the market.


On the contrary, the market witnessed some profit collection operations, which positively impacted the indices performance during some daily sessions; however this impact was weak on the overall market performance, due to the purchasing trend that superseded stock trading most of the times. For the annual performance, the price index ended last week recording 1.21% annual gain compared to its closing in 2011, while the weighted index increased by 3.03%, and the KSX-15 recorded 2.20% increase compared to its value at inception. By the end of the week, the price index closed at 5,888.30 points, up by 1.51% from the week before closing, whereas the weighted index registered a 2.06% weekly gain after closing at 417.93 points. Moreover, the KSX-15 index closed at 1,021.99 points, increasing with 2.54%.

Sectors’ Indices
Six of KSE’s sectors ended last week in the green zone, The Telecommunications sector headed the gainers list, after its index closed at 924.16 points, to increase by 8.04%. Real Estate sector was the second on the list, as its index closed at 997.84 points, up by 4.10%. The Industrial sector was the least on the gainers’ list, which index advanced by 0.45%, closing at 916.71 points. On the Other hand, The Health Care sector headed the losers list as its index declined by 2.66% to end the week’s activity at 826.04 points. While the Oil & Gas was the least, when its index closed at 922.86, down by 0.75%.

Sectors’ Activity
The Real Estate sector dominated total trade volume during last week with 663.13 million shares changing hands, representing 34.18% of the total market trading volume. The Financial Services sector was second in terms of trading volume as the sector’s traded shares were 32.86% of last week’s total trading volume, with a total of 637.52 million shares. On the other hand, the Real Estate sector’s stocks were the highest traded in terms of value; with a turnover of KD 44.69 million or 27.27% 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 35.56 million represented 21.70% of the total market trading value.
 

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By: Bayan Investment

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