KSE price index up by 1.8 pct during week Telecommunications sector highest gainer, achieves 3.61% growth rate

Kuwait Stock Exchange (KSE) ended last week in the green zone. The price index ended last week with an increase amounted to 1.18%, and the weighted index advanced by 1.08% compared to the closings of the week before. In addition KSX-15 index increased by 1.24%. Furthermore, last week’s average daily turnover increased by 18.51%, compared to the preceding week, reaching KD 33.09 million, whereas trading volume average was 434.62 million shares, recording increase of 32.89%.

Kuwait Stock Exchange was able to continue its positive performance during this period supported by the purchasing power on many leading and small-cap stocks at the same level, in addition to the active speculative operations concentrated on a number of small-cap stocks in the market.   As a result, the three market indices closed in the green zone for the third consecutive week, especially the Price Index which was able to reinforce its gains and broke the 6,100 point level up.

Despite the positive gains the market realized last week; the profit collection operations were not absent to influence the trading activities during most of the daily sessions, where some traders tend to perform such operations to benefit from the increase in their stock prices during the previous period.  Therefore, the market indices performance was affected in general, especially the market index which witnessed limited fluctuation within narrow zone, but at an increasing level. However, the said operations did not succeed in pulling the market into the red zone, but limited its gains only.

Moreover, the stock market is witnessing a general state of watch and caution this period, awaiting the release of the listed companies’ 2012 financial results, which will define the general track of the market for the coming period.

By the end of the week, the price index closed at 6,139.30 points, up by 1.18% from the week before closing, whereas the weighted index registered a 1.08% weekly gain after closing at 431.17 points. Moreover, the KSX-15 index closed at 1,046.15 points, increasing with 1.24%.

Sectors’ Indices
All of KSE’s sectors ended last week in the green zone. Last week’s highest gainer was the Telecommunications sector, achieving 3.61% growth rate as its index closed at 946.44 points. Whereas, in the second place, the Technology sector’s index closed at 845.64 points recording 2.44% increase. The Basic Materials sector came in third as its index achieved 1.89% growth, ending the week at 1,000.43 points. The Consumer Services sector was the least growing as its index closed at 944.26 points with a 0.33% increase.

Sectors’ Activity
The Financial Services sector dominated total trade volume during last week with 1.11 billion shares changing hands, representing 50.88% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 28.74% of last week’s total trading volume, with a total of 624.56 million shares.    
On the other hand, the Financial Services sector’s stocks were the highest traded in terms of value; with a turnover of KD. 60.13 million or 36.35% of last week’s total market trading value. The Real Estate sector took the second place as the sector’s last week turnover of KD. 38.06 million represented 23.01% of the total market trading value.

By: Bayan Investment

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