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Kuwait stocks end trading on mixed board

Kuwait Stock Exchange (KSE) ended last week with mixed performance. The Price Index closed at 7,403.74 points, down by 0.04% from the week before closing, the Weighted Index increased by 0.002% after closing at 492.04 points, whereas the KSX-15 Index closed at 1,194.61 points down by 0.49%. Furthermore, last week’s average daily turnover decreased by 2.34%, compared to the preceding week, reaching K.D 22.05 million, whereas trading volume average was 220.09 million shares, recording increase of 45.78%.
KSE indicators closed with mixed performance by the end of the week, whereas the Weighted Index was able to realize some gains, supported by the purchasing operations that targeted few large-cap stocks, especially in the Banking and Consumer Goods sectors, whilst the Price Index and KSX-Index declined on the weekly level, affected by the continued sale-for-profit operations that included many listed stocks, especially in the Real Estate sector, which was the most losing one.

In addition, the stock market was taking a downward direction in general last week, in light of the limited fluctuation performance, among presence of the speculations and selling pressures that included many stocks, plus the continued drawback of the traders from the market due to the lack of investment motivations, and the wait for the local political events’ results.
Moreover, the most common reason for the stock market decline last week is the investors’ drawback from trading, in light of their watching state for the listed companies first quarter financial results, especially during the beginning of the weekly sessions, among fears of having some stocks getting stopped, if such companies could not disclose its financial results before the end of the legal disclosure period, which explains the drop in the liquidity levels during some daily sessions.
For the annual performance, the price index ended last week recording 1.93% annual loss compared to its closing in 2013, while the weighted index increased by 8.65%, and the KSX-15 recorded 11.81% growth.
Sectors’ Indices
Seven of KSE’s sectors ended last week in the green zone, while the other Five recorded declines. Last week’s highest gainer was the Consumer Services sector, achieving 4.74% growth rate as its index closed at 1,170.97 points.
Whereas, in the second place, the Insurance sector’s index closed at 1,179.74 points recording 4.21% increase. The Health Care sector came in third as its index achieved 4.05% growth, ending the week at 1,123.50 points.
On the other hand, the Real Estate sector headed the losers list as its index declined by 2.28% to end the week’s activity at 1,284.76 points. The Technology sector was second on the losers’ list, which index declined by 1.79%, closing at 965.72 points, followed by the Telecommunications sector, as its index closed at 806.09 points at a loss of 1.23%.

Sectors’ Activity

The Industrial sector dominated total trade volume during last week with 363.07 million shares changing hands, representing 32.99% of the total market trading volume. The Financial Services sector was second in terms of trading volume as the sector’s traded shares were 26.22% of last week’s total trading volume, with a total of 288.53 million shares.
On the other hand, the Banking sector’s stocks were the highest traded in terms of value; with a turnover of K.D 34.55 million or 31.34% of last week’s total market trading value. The Financial Services sector took the second place as the sector’s last week turnover was K.D 25.43 million represented 23.07% of the total market trading value.

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