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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 7,076.0 points, up by 1.02% from the week before closing, the Weighted Index increased by 0.62% after closing at 478.23 points, whereas the KSX-15 Index closed at 1,168.63 points up by 0.47%. Furthermore, last week’s average daily turnover decreased by 4.09%, compared to the preceding week, reaching KD 11.77 million, whereas trading volume average was 122.24 million shares, recording increase of 13.87%.

The stock market indices ended the week’s trading with various gains, especially the Price Index that was able to maintain the 7,000 point level, supported by the random purchasing operations that concentrated on a number of small-cap stocks, mostly of the Real Estate sector, whilst both the Weighted Index and KSX-15 Index realized simple gains as a result to the limited purchasing operations that included some large-cap stocks, especially in the Banking and Telecommunications sectors.
 
In addition, the stock market initiated the week’s sessions with a decline to all of its indices, to cross the 7,000 point level down, among a noticeable drop in the trading activity, the value in particular, which declined noticeably to reach KD 5.21 million only, the lowest level ever since approximately 3 years, particularly since August 2011.  Moreover, the stock market continued its decline in the second trading session, among a continued strong selling operations that included many stocks of different sectors, especially the leading Banking sector, and negatively affected the three indicators’ performance, especially the KSX-15 Index, which was the most loser among the other two indicators by the of this session.
 
Also, the stock market managed to realize good gains during the rest of the week’s sessions to include all its indices, in light of the return of the purchasing operations, however was limited when compared to previous ones, whereas the operations were concentrated on the small-cap stocks, which enabled the Price Index to return to the 7,000 point level once again, among an increased trading activity compared to previous sessions. The stock market is currently witnessing a watch state for the listed companies financial results for the first six months period ended on 30 June, which is expected to be disclosed by some companies and local banks during the current week. For the annual performance, the price index ended last week recording 6.27% annual loss compared to its closing in 2013, while the weighted index increased by 5.60%, and the KSX-15 recorded 9.38% 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 Real Estate sector, achieving 2.26% growth rate as its index closed at 1,213.05 points. Whereas, in the second place, the Oil & Gas sector’s index closed at 1,172.64 points recording 1.94% increase. The Financial Services sector came in third as its index achieved 1.91% growth, ending the week at 967.81 points. On the other hand, the Consumer Services sector headed the losers list as its index declined by 1.89% to end the week’s activity at 1,124.72 points. The Health Care sector was second on the losers’ list, which index declined by 0.33%, closing at 1,010.75 points, followed by the Consumer Goods sector, as its index closed at 1,303.55 points at a loss of 0.33%.
 
Sectors’ Activity
The Financial services sector dominated total trade volume during last week with 366.30 million shares changing hands, representing 59.93% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 15.62% of last week’s total trading volume, with a total of 95.45 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 18.39 million or 31.24% of last week’s total market trading value. The Banking sector took the second place as the sector’s last week turnover was KD 15.83 million represented 26.89% of the total market trading value.  For further details, please visit our web site: www.bayaninvest.com.
 
 
 
 

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