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KSE ended with mixed performance last week

Kuwait Stock Exchange (KSE) ended last week with mixed performance. The Price Index closed at 7,097.04 points, up by 0.30% from the week before closing, the Weighted Index decreased by 0.14% after closing at 477.55 points, whereas the KSX-15 Index closed at 1,164.14 points down by 0.38%. Furthermore, last week's average daily turnover increased by 51.97%, compared to the preceding week, reaching K.D 17.89 million, whereas trading volume average was 183.36 million shares, recording an increase of 50%.

The stock market indices were not able to realize gains, except for the Price Index, which received support from the purchasing power that included many stocks of different sectors, especially in the Real Estate and Technology sectors; whilst both the Weighted Index and KSX-15 Index declined as a result to the quick profit collection operations that were executed on some large-cap stocks of previous gains. In addition, the Price Index was able to realize the gains for the fourth consecutive week, as the small-cap stocks continued to play the outstanding role in realizing such gains, through the purchasing and the quick speculative operations on such stocks.

Moreover, last week's stock market performance came in light of the noticeable increase in the trading activity, especially the value, which recorded in one session its highest level during the current month. Also, the stock market initiated the first session of last week with gains to its three indices, in light of the strong purchasing operations that included many stocks, among positive expectations for the listed companies first half results, which activated the purchasing operations. However, during the end of the week's session, the stock market indices declined, due to the strong profit collection operations, among a drop in most of the traded stocks during the same session, despite the increase in the trading activity compared to the previous session.

The stock market realized such performance in light of the continued state of watch and cautious that are over controlling the traders, whom waiting for the listed companies disclosures for its first half financial results, especially that very few have already disclosed their results, although more than two weeks of the given legal disclosure period have passed, which will end mid of the upcoming month. For the annual performance, the price index ended last week recording 5.99% annual loss compared to its closing in 2013, while the weighted index increased by 5.45%, and the KSX-15 recorded 8.96% 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 Technology sector, achieving 1.12% growth rate as its index closed at 968.55 points. Whereas, in the second place, the Real Estate sector’s index closed at 1,226.65 points recording 1.12% increase. The Basic Materials sector came in third as its index achieved 1.05% growth, ending the week at 1,219.65 points. On the other hand, the Consumer Services sector headed the losers list as its index declined by 1.73% to end the week’s activity at 1,105.22 points. The Oil & Gas sector was second on the losers’ list, which index declined by 1.54%, closing at 1,154.55 points, followed by the Consumer Goods sector, as its index closed at 1,301.03 points at a loss of 0.19%. Sectors’ Activity The Financial services sector dominated total trade volume during last week with 483.94 million shares changing hands, representing 52.79% of the total market trading volume.

The Banking sector was second in terms of trading volume as the sector’s traded shares were 19.90% of last week’s total trading volume, with a total of 182.40 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 29.55 million or 33.03% 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 27.73 million represented 31% of the total market trading value.

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By Bayan Investment

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