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Market indices end mixed on profit taking

Kuwait Stock Exchange (KSE) ended last week with mixed performance. The Price Index closed at 7,737.49 points, down by 1.34% from the week before closing, the Weighted Index increased by 0.18% after closing at 465.20 points, whereas the KSX-15 Index closed at 1,097.25 points up by 0.70%. Furthermore, last week’s average daily turnover decreased by 18.79%, compared to the preceding week, reaching KD 28.83 million, whereas trading volume average was 241.10 million shares, recording decrease of 10.64%.
Kuwait stock market indices performed mixed last week, when compared to the previous one, with an overall decline during most of the sessions, affected by the strong selling pressures and profit collection operations that included many stocks in different sectors, among a control of the fluctuated performance that the stock market is witnessing during this period due to the continuous speculations and absence of technical motivators such as the national portfolio and other portfolios that have an impact on the trading direction.

In addition, the selling operations concentrated on the low-priced listed stocks, which affected the Price Index performance in particular, to decline the most during last week, when compared to the Weighted and KSX-15 indices, whereas it dropped below the 7800 point level.  Also, the liquidity levels have declined by the end of last week by 18.79%.
Moreover, the stock market have performed positively during few sessions last week, as the return of the low-priced stocks activity, that were declined at the beginning of the week, supported the Price Index, after it turned to be good and attractive speculative opportunities to traders; while the random purchasing operations that were executed on some large-cap and blue-chip stocks positively affected the stock market indices performance during some sessions, however 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 2.49% annual gain compared to its closing in 2013, while the weighted index increased by 2.72%, and the KSX-15 recorded 2.70% growth.

Sectors’ Indices
Nine of KSE’s sectors ended last week in the red zone, while two recorded increases and one remained as it is. The Insurance sector headed the losers list as its index declined by 3.51% to end the week’s activity at 1,157.34 points. The Real Estate sector was second on the losers’ list, which index declined by 2.48%, closing at 1,421.40 points, followed by the Oil & Gas sector, as its index closed at 1,196.32 points at a loss of 2.13%. The Technology sector was the least declining as its index closed at 1,052.17 points with a 0.10% decrease.
On the other hand, last week’s highest gainer was the Consumer Goods sector, achieving 1.95% growth rate as its index closed at 1,288.83 points. Whereas, in the second place, the Telecommunication sector’s index closed at 868.62 points recording 1.48% increase. The Health Care Sector remained without change as its index closed at 1,119.49 points.

Sectors’ Activity
The Financial Services sector dominated total trade volume during last week with 504.77 million shares changing hands, representing 41.87% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 28.29% of last week’s total trading volume, with a total of 340.99 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 40.19 million or 27.88% of last week’s total market trading value. The Banks sector took the second place as the sector’s last week turnover was KD 38.02 million represented 26.37% of the total market trading value.

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