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KSE ends in red zone for third consecutive week Trading volume down 32.75% to 188.96 million shares

Kuwait Stock Exchange (KSE) ended last week in the red zone. The price index closed at 7,605.04 points, down by 1.29% from the week before closing, the weighted index decreased by 0.34% after closing at 451.82 points, whereas the KSX-15 index closed at 1,075.86 points down by 0.01%. Furthermore, last week’s average daily turnover decreased by 17.26%, compared to the preceding week, reaching K.D 19.91 million, whereas trading volume average was 188.96 million shares, recording decrease of 32.75%.

The red color continued to over control the stock market three indices performance, which closed with decline for the third consecutive week, among a continued state of fear and lack of trust in controlling the traders, whereas the strong selling pressures that executed on many stocks of different sectors, especially the small-cap ones, contributed to the losses of the stock market general indices, mostly the Price Index, which continued to drop one week after the other, to decline to its lowest level since around mid of last September.

In addition, the investors’ fear and weak confidence in the stock market recovery pushed some of them to liquidate their stocks, and wait for the market to improve, while others held on trading, thus caused the trading activity to contract noticeably, especially the trading value, which declined to a record levels never witnessed in quite some time, whereas it recorded in one of the last week’s sessions its lowest level since more than four months, among purchasing abandon from the portfolios and investment funds.
Moreover, the investors’ watch for the listed companies year-end financial results is considered to be a reason for the weak state that the stock market is living currently, as many of them are waiting for such results to define their priorities and investment directions for the next period, in light of the weak operational performance for some companies, due to the weak investment environment surrounding it.
For the annual performance, the price index ended last week recording 28.15% annual gains compared to its closing in 2012, while the weighted index increased by 8.18%, and the KSX-15 recorded 6.62% growth.

Sectors’ Indices
Nine of KSE’s sectors ended last week in the red zone, while the other three recorded increases. The Real Estate sector headed the losers list as its index declined by 3.89% to end the week’s activity at 1,370.71 points.
The Financial Services sector was second on the losers’ list, which index declined by 1.61%, closing at 1,121.99 points, followed by the Consumer Goods sector, as its index closed at 1,228.37 points at a loss of 0.80%. The Technology sector was the least declining as its index closed at 1,010.16 points with a 0.11% decrease.
On the other hand, last week’s highest gainer was the Health Care sector, achieving 3.03% growth rate as its index closed at 1,036.44 points. Whereas, in the second place, the Consumer Services sector’s index closed at 1,160.25 points recording 0.35% increase. The Industrial sector came in third as its index achieved 0.34% growth, ending the week at 1,169.23 points.

Sectors’ Activity
The Real Estate sector dominated total trade volume during last week with 379.70 million shares changing hands, representing 40.19% of the total market trading volume. The Financial Services sector was second in terms of trading volume as the sector’s traded shares were 33.32% of last week’s total trading volume, with a total of 314.78 million shares.
On the other hand, the Real Estate sector’s stocks were the highest traded in terms of value; with a turnover of K.D 29.90 million or 30.03% of last week’s total market trading value. The Financial Services sector took the second place as the sector’s last week turnover was K.D 24.69 million represented 24.80% of the total market trading value.

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By Bayan Investment Co


By: Bayan Investment Co

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