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Kuwait stock market closes in green zone

Kuwait Stock Exchange (KSE) ended last week in the green zone. The Price Index closed at 7,557.29 points, up by 1.38% from the week before closing, the Weighted Index increased by 2.91% after closing at 473.37 points, whereas the KSX-15 Index closed at 1,145.83 points up by 4.40%. Furthermore, last week’s average daily turnover increased by 80.89%, compared to the preceding week, reaching KD 31.52 million, whereas trading volume average was 247.47 million shares, recording increase of 54.83%.

The stock market indices were able to realize good gains supported by the active trading and the strong purchasing operations that concentrated on the leading and blue-chip stocks; as despite the negative start of the stock market’s trading last week, which was affected by the selling pressures on many small-cap and mid-cap stocks, the purchasing and collection operations witnessed by the operational stocks contributed in spreading an optimistic environment on the market, and positively affected the three indices performance, especially the KSX-15 index, which reached its highest level ever since inception in May 2012.

In addition, the optimistic environment affected the stock market trading activity, especially the value, where it witnessed a noticeable increase when compared to the last few weeks trading, which enhanced the optimistic state of the traders for this period. On the other hand, the stock market is still waiting for the 2013 financial results announcements for the remaining companies, as despite the fact that the legal disclosure period will expire by the end of March, a number of listed companies did not announce their results so far, which increases some investors’ worries from the possibility of postponing such companies from trading, if the same could not announce their results within the given legal period.

For the annual performance, the price index ended last week recording 0.10% annual profit compared to its closing in 2013, while the weighted index increased by 4.53%, and the KSX-15 recorded 7.25% growth.

Sectors’ Indices
Eleven of KSE’s sectors ended last week in the green zone, while only one declined.  The Banking sector headed the gainers list as its index grew by 2.41% to end the week’s activity at 1,074.14 points. The Real Estate sector was second on the gainer’s list, which index increased by 2.37%, closing at 1,374.62 points, followed by the Insurance sector, as its index closed at 1,143.94 points at an increase of 2.12%. The Consumer Services was the least growing sector as its index closed at 1,079.68 points with a 0.23% increase. On the other hand, last week’s only loser was the Basic Materials sector, which declined by 0.11%, as its index closed at 1,157.06 points.


Sectors’ Activity
The Financial Services sector dominated total trade volume during last week with 456.38 million shares changing hands, representing 36.88% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 29.41% of last week’s total trading volume, with a total of 363.96 million shares. On the other hand, the Banking sector’s stocks were the highest traded in terms of value; with a turnover of KD 61.91 million or 39.28% 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 39.80 million represented 25.26% of the total market trading value.

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