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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 6,004.31 points, up by 0.32% from the week before closing, the Weighted Index increased by 0.90% after closing at 475.30 points, whereas the KSX-15 Index closed at 1,163.19 points up by 0.85%. Furthermore, last week’s average daily turnover decreased by 21.98%, compared to the preceding week, reaching K.D 12.27 million, whereas trading volume average was 107.35 million shares, recording decrease of 23.13%.

The stock market was able to realize the gains in light of the random purchasing operations that included many stocks of most listed sectors in the market, especially the large-cap ones in the sectors of the Consumer Goods and Telecommunications; in addition to the speculative operations that were present during last week’s trading, whereas the effect of such speculations was noticed on the market trading activity, that concentrated on the small-cap stocks in particular, which enabled the Price Index to realize gains during some sessions of the week, to return to the 7,000 point level once again, which was lost during the trading of the preceding week.

The stock market witnessed such performance among a noticeable dropped level of the trading activity, both the volume and the value, whereas the trading volume reached in one session of the week its lowest level since approximately mid of 2012, whilst the trading value recorded in one session its lowest level since November 2011; this performance came in light of the continued refrain of investors from trading until some positive motivators arise to increase the trading activity, in addition to the fact that last week’s trading came in parallel with the beginning of the holy month of Ramadan, whereas trading activity slows down and working hours are minimized.

Moreover, the stock market is expected to continue in recording lower levels of liquidity during the next period, especially that the first half financial period have passed last week, which means that the market will live a state of watch and cautious, waiting for the listed companies semi-annual financial results, which is expected to be disclosed during the upcoming weeks.
For the annual performance, the price index ended last week recording 7.22% annual loss compared to its closing in 2013, while the weighted index increased by 4.96%, and the KSX-15 recorded 8.87% 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 Goods sector, achieving 5.08% growth rate as its index closed at 1,307.69 points. Whereas, in the second place, the Telecommunication sector’s index closed at 749.16 points recording 1.02% increase. The Consumer Services sector came in third as its index achieved 1.01% growth, ending the week at 1,146.41 points.
On the other hand, the Insurance sector headed the losers list as its index declined by 0.43% to end the week’s activity at 1,169.06 points. The Real Estate sector was second on the losers’ list, which index declined by 0.41%, closing at 1,186.22 points, followed by the Technology sector, as its index closed at 956.09 points at a loss of 0.28%.

Sectors’ Activity

The Financial services sector dominated total trade volume during last week with 340.93 million shares changing hands, representing 63.52% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 10.71% of last week’s total trading volume, with a total of 57.49 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 19.79 million or 32.26% 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 18.18 million represented 29.62% of the total market trading value.

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