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Kuwait stocks close down 7,764.86 pts last week Average daily turnover drops by 14.37 pct; trading volume falls to 192.34 mln

Kuwait Stock Exchange (KSE) ended last week in the red zone. The price index closed at 7,764.86 points, down by 0.26% from the week before closing, the weighted index decreased by 0.55% after closing at 456.46 points, whereas the KSX-15 index closed at 1,078.87 points down by 0.41%. Furthermore, last week’s average daily turnover decreased by 14.37%, compared to the preceding week, reaching K.D 24.29 million, whereas trading volume average was 192.34 million shares, recording decrease of 24.50%. The stock market indicators contracted during last week compared to the preceding one, as the red indicator overcame most of the sessions, affected by the strong selling pressures that included many stocks in different sectors, in light of the fluctuating performance that the stock market is witnessing during this period as a result to the speculative operations.

In addition, the selling operations concentrated on the large-cap and operational listed stocks, and thus reflected on the performance of the Weighted and KSX-15 indices in particular, where they dropped the most compared to the Price index, and recorded in one of the week’s session its lowest closing level since last September. Moreover, the green indicator was not absent during last week’s trading, as the random purchasing operations executed on some operational stocks, and  the positive speculation that performed mostly on the small-cap stocks, had a positive impact on the market indices’ performance during some sessions, however, it was not enough to push the indices to close in the green zone on the weekly level. For the annual performance, the price index ended last week recording 30.85 annual gains compared to its closing in 2012, while the weighted index increased by 9.29%, and the KSX-15 recorded 6.92% growth.

Sectors’ Indices
Seven of KSE’s sectors ended last week in the red zone, while the other five recorded increases. The Technology sector headed the losers list as its index declined by 3.12% to end the week’s activity at 1,006.92 points. The Banks sector was second on the losers’ list, which index declined by 1.12%, closing at 1,090.29 points, followed by the Financial Services sector, as its index closed at 1,142.86 points at a loss of 1.04%. The Oil & Gas sector was the least declining as its index closed at 1,236.08 points with a 0.07% decrease. On the other hand, last week’s highest gainer was the Consumer Goods sector, achieving 2.33% growth rate as its index closed at 1,268.98 points. Whereas, in the second place, the Telecommunications sector’s index closed at 833.80 points recording 1.14% increase. The Industrial sector came in third as its index achieved 0.78% growth, ending the week at 1,180.57 points.

Sectors’ Activity
The Financial Services sector dominated total trade volume during last week with 401.63 million shares changing hands, representing 41.76% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 34.62% of last week’s total trading volume, with a total of 332.96 million shares.  On the other hand, the Financial Services sector’s stocks were the highest traded in terms of value; with a turnover of K.D 35.96 million or 29.60% of last week’s total market trading value. The Real Estate sector took the second place as the sector’s last week turnover was K.D 32.01 million represented 26.35% of the total market trading value.

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By Bayan Investment Co

By: Bayan Investment Co

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