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Kuwait stock market ends in red zone during week Trading volume rises 19.21 pct to 424.46 mln shares

Kuwait Stock Exchange (KSE) ended last week in the red zone. The price index closed at 7,665.14 points, down by 0.05% from the week before closing, the weighted index decreased by 0.65% after closing at 451.89 points, whereas the KSX-15 index closed at 1,062.97 points down by 0.81%. Furthermore, last week’s average daily turnover increased by 8.76%, compared to the preceding week, reaching K.D 33.25 million, whereas trading volume average was 424.46 million shares, recording increase of 19.21%.

The stock market indices dropped last week affected by the selling pressures performed on most of the traded stocks, especially the small-cap ones, which were subject to profit collection operations and thus had a negative impact on the Price Index and drag it to close in the red zone in most of the weekly sessions. In addition, the stock market continued to witness speculative operations, which affected the trading direction, and caused the stock market main indices to fluctuate, whereas such operations were concentrated on the small-cap stocks in particular, especially on the Real Estate and Financial Services sectors.

Furthermore, the stock market witnessed some fluctuations and decline during last week, however, the random purchasing and the collection operations were not absent to affect the market three indices, specifically in the last trading session, where the Price Index increased well due to some small-cap stocks activity, and as a result reduced the market weekly losses. Also, the stock market is still living a watch and caution state, waiting for the listed companies announcements for the 2013 annual financial results, which is expected to be announced in the coming weeks.

Sectors’ Indices
Six of KSE’s sectors ended last week in the green zone, while the other Six recorded declines. Last week’s highest gainer was the Health Care sector, achieving 1.91% growth rate as its index closed at 1,111.62 points. Whereas, in the second place, the Real Estate sector’s index closed at 1,423.74 points recording 1.72% increase. The Basic Materials sector came in third as its index achieved 1.03% growth, ending the week at 1,177.37 points.

On the other hand, the Consumer Services sector headed the losers list as its index declined by 2.41% to end the week’s activity at 1,106.73 points. The Industrials sector was second on the losers’ list, which index declined by 1.23%, closing at 1,167.37 points, followed by the Consumer Goods sector, as its index closed at 1,248.95 points at a loss of 0.97%.

Sectors’ Activity
The Financial Services sector dominated total trade volume during last week with 576.62 million shares changing hands, representing 33.96% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 33.53% of last week’s total trading volume, with a total of 569.21 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 40.02 million or 30.09% 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 33.89 million represented 25.48% of the total market trading value.

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By Bayan Investment Co

By: Bayan Investment Co

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