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Kuwait stock market ends trading mixed

Kuwait Stock Exchange (KSE) ended last week with mixed performance. The Price Index closed at 7,291.09 points, down by 0.76% from the week before closing, the Weighted Index increased by 1.06 % after closing at 493.08 points, whereas the KSX-15 Index closed at 1,208.68 points up by 2.09%. Furthermore, last week’s average daily turnover decreased by 3.72%, compared to the preceding week, reaching K.D 21.14 million, whereas trading volume average was 149.26 million shares, recording an decrease of 12.25%. The traders’ behavior was mixed between selective purchasing and random selling operations, which reflected on many listed companies, whereas lots of small-cap stocks declined as a result to the selling pressures that targeted many of the same, especially the Real Estate and Financial Services stocks that declined the most during the week, however the selective purchasing operations that included many blue-chip and large-cap stocks, especially in the Telecommunications sector, formed a support factor for the Weighted Index and KSX-15 Index, to end the week with limited gains.

Kuwait Stock Exchange performance came among a dropped and declined liquidity levels, as it recorded in one daily session of the week its lowest level since August 2012, which pinpoint to the weakness that the market is suffering during this period due to the absence of the positive supportive motivators for the purchasing direction, and pushed a large segment of the traders towards selling and liquidating their stocks, especially the small-cap ones, to negatively affect the Price Index in particular, which declined in one daily session of the week to its lowest levels in around 8 months, to add-up to its annual losses, and reach 3.42% in the first five months of the current year.

On the other hand, the stock market is suffering this period from the decreased desire to trade by many investors, due to the absence of the positive motivators that support the purchasing activity, especially that most of the listed companies have already disclosed their first quarter financial results for the current year.
For the annual performance, the price index ended last week recording 3.42% annual loss compared to its closing in 2013, while the weighted index increased by 8.88%, and the KSX-15 recorded 13.13% growth.

Sectors’ Indices
Seven of KSE’s sectors ended last week in the red zone, and other five recorded increases. The Real Estate sector headed the losers list as its index declined by 1.63% to end the week’s activity at 1,255.75 points. The Health Care sector was second on the losers’ list, which index declined by 1.62%, closing at  1,105.23 points, followed by the Oil & Gas sector, as its index closed at 1,203.08 points at a loss of 1.40%. The Insurance sector was the least declining as its index closed at 1,171.30 points with a 0.28% decrease.
On the other hand, last week’s highest gainer was the Telecommunication sector, achieving 1.48% growth rate as its index closed at 805.58 points. Whereas, in the second place, the Consumer Services sector’s index closed at 1,173.16 points recording 0.58% increase.

Sectors’ Activity
The Real Estate sector dominated total trade volume during last week with 263.40 million shares changing hands, representing 44.12% of the total market trading volume. The Financial services sector was second in terms of trading volume as the sector’s traded shares were 33.96% of last week’s total trading volume, with a total of 202.74 million shares.  On the other hand, the Banking sector’s stocks were the highest traded in terms of value; with a turnover of KD 32.95 million or 38.97% of last week’s total market trading value. The Real Estate  sector took the second place as the sector’s last week turnover was KD 16.79 million represented 19.86% of the total market trading value.

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