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Kuwait stock market indices close in green

Kuwait Stock Exchange (KSE) ended last week at green zone. The Price Index closed at 7,842.62 points, up by 0.14% from the week before closing, the Weighted Index increased by 0.74% after closing at 464.36 points, whereas the KSX-15 Index closed at 1,089.63 points up by 1.35%.  Furthermore, last week’s average daily turnover increased by 2.10%, compared to the preceding week, reaching KD 35.50 million, whereas trading volume average was 269.80 million shares, recording decrease of 17.77%.

The stock market indices were all able to close in the green zone last week, particularly the Weighted Index and KSX-15, where it benefited from the strong purchasing operations that many large-cap and blue-chip stocks witnessed, especially the companies that are expected to announce a positive financial results and cash dividends for 2013, which supported the trading values in the market, and recorded a fair growth during the last week, when compared to the previous one.

In addition, the Price Index witnessed a fluctuated performance last week, with upward trend, came as a result to the continuous quick speculative operations that concentrated on the small-cap stocks, especially in the Financial Services and Real Estate sectors, in addition to the profit collection operations that the market witnessed from time to time, however, the purchase & collection operations overwhelmed the trading last week and enabled the index to close with weekly gains. On the other hand, the traders are still watching for the listed companies to announce its 2013 financial results; as many companies have not yet announced its results, however half of the legal disclosure period have passed, which put the traders under hesitant and cautious states, as they prefer to have a clear view of the listed companies results, in order to evaluate its financial positions, for making their investment decisions.

For the annual performance, the price index ended last week recording 3.88% annual gain compared to its closing in 2013, while the weighted index increased by 2.54%, and the KSX-15 recorded 1.99% growth.

Sectors’ Indices
Eight of KSE’s sectors ended last week in the green zone, while the other four recorded declines. Last week’s highest gainer was the Technology sector, achieving 4.09% growth rate as its index closed at 1,053.21 points. Whereas, in the second place, the Insurance sector’s index closed at 1,199.44 points recording 2.42% increase. The Consumer Services sector came in third as its index achieved 0.76% growth, ending the week at 1,174.19 points. The Real Estate sector was the least growing as its index closed at 1,457.55 points with a 0.05% increase. On the other hand, the Oil & Gas sector headed the losers list as its index declined by 0.90% to end the week’s activity at 1,222.39 points. The Basic Materials sector was second on the losers’ list, which index declined by 0.86%, closing at 1,170.41 points, followed by the Health Care sector, as its index closed at 1,119.49 points at a weekly loss of 0.79%.

Sectors’ Activity
The Financial Services sector dominated total trade volume during last week with 529.78 million shares changing hands, representing 39.27% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 33.48% of last week’s total trading volume, with a total of 451.64 million shares.  On the other hand, the Banks sector’s stocks were the highest traded in terms of value; with a turnover of KD 55.39 million or 31.20% of last week’s total market trading value. The Financial Services sector took the second place as the sector’s last week turnover was KD 45.11 million represented 25.41% of the total market trading value.

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