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Kuwait stock market ends week’s trading mixed Volume rises 32.64 pct to 250.64 mln shares

Kuwait Stock Exchange (KSE) ended last week at mixed performance. The price index closed at 7,626.23 points, up by 0.28% from the week before closing, the weighted index increased by 0.01% after closing at 451.86 points, whereas the KSX-15 index closed at 1,066.40 points down by 0.88%. Furthermore, last week’s average daily turnover increased by 22.24%, compared to the preceding week, reaching KD 24.34 million, whereas trading volume average was 250.64 million shares, recording increase of 32.64%. The stock market three indices performance fluctuated last week due to the traders’ different preferences, whereas the Price Index and Weighted Index realized some gains, in light of the purchasing activity return to control the trading direction, which concentrated on the small-cap stocks, and a number of large-cap stocks, however the KSX-15 was not able to realize weekly gains affected by the drop of some operational and blue-chip stocks, especially in the Consumer Services and Banking and Industrial sectors, as such stocks were subject to profit collection operations which caused it to decline, and thus negatively affected KSX-15 Index performance.

In addition, the stock market witnessed a positive performance supported by the purchasing power that included many stocks whether large-cap or small-cap, particularly in Real Estate and Financial Services sectors, and especially in the first four sessions of last week, where the general index increased continuously.  On the other hand, the stock market was affected by the profit collection operations, which were present in most of the daily sessions, especially in the last trading session of the week, whereas the three stock market indices closed in the red zone, and in turn lightened the gains of the Price and Weighted indices and pushed the KSX-15 index to record weekly losses. Moreover, the watch state is still controlling many of the stock market traders, whom are waiting for the listed companies’ financial results for the current year, which only three days are left to end, among many hopes for positive results.
For the annual performance, the price index ended last week recording 28.51% annual gains compared to its closing in 2012, while the weighted index increased by 8.19%, and the KSX-15 recorded 5.68% growth.

Sectors’ Indices
Nine of KSE’s sectors ended last week in the green zone, while the other three recorded declines. Last week’s highest gainer was the Insurance sector, achieving 3.10% growth rate as its index closed at 1,143.47 points. Whereas, in the second place, the Consumer Goods sector’s index closed at 1,247.14 points recording 1.53% increase. The Basic Materials sector came in third as its index achieved 1.24% growth, ending the week at 1,153.78 points. The Technology sector was the least growing as its index closed at 1,011.26 points with a 0.11% increase. On the other hand, the Consumer Services sector headed the losers list as its index declined by 2.39% to end the week’s activity at 1,132.55 points. The Industrial sector was second on the losers’ list, which index declined by 0.78%, closing at 1,160.15 points, followed by the Banks sector, as its index closed at 1,069.44 points at a weekly loss of 0.01%.

Sectors’ Activity
The Financial Services sector dominated total trade volume during last week with 560.39 million shares changing hands, representing 44.72% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 30.83% of last week’s total trading volume, with a total of 386.37 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 37.40 million or 30.73% of last week’s total market trading value. The Real Estate sector took the second place as the sector’s last week turnover was KD 27.85 million represented 22.88% of the total market trading value.

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By Bayan Investment Co

By: Bayan Investment Co

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