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Daily turnover rises by 18.91 pct KSE index ends in green zone last week

Kuwait Stock Exchange (KSE) ended last week in the green zone. The Price Index closed at 7,186.42 points, up by 0.78% from the week before closing, the Weighted Index increased by 1.19% after closing at 487.52 points, whereas the KSX-15 Index closed 1,200.97 points up by 2.07%. Furthermore, last week’s average daily turnover increased by 18.91%, compared to the preceding week, reaching K.D 14.58 million, whereas trading volume average was 114.26 million shares, recording an increase of 3.11%.
In light of a fluctuated and mixed trading activity, and despite the profit collection operations that were present in many occasions; the three stock indicators were able to realize gains for the second consecutive week, affected by the purchase and collection operations executed mostly on the large-cap stocks, which was reflected on the Weighted Index and KSX-15 Index performances, the most realized gains during the week when compared to the Price Index that benefited from the random purchasing operations that included some small-cap listed stocks.
In addition, last week’s trading activity concentrated on the companies’ stocks of which disclosed positive semi-annual financial results for the current year, especially stocks of the leading Banking sector, whereas most of the listed banks were able to realize growth in profits when compared to the same period of year 2013, as the total realized profits of the sector for the first half period of the current year reached K.D. 327.51 Million, while it reached K.D. 278.78 Million for the same period of last year, with a growth of 17.48%.
Moreover, the stock market gains of last week came in parallel with the increase in the trading activity, especially the trading value that grew by 18.91%, among a trading concentration on the Banking sector stocks that received the most percentage from the market liquidity, and came despite the continued state of watch by many traders, waiting for the listed companies disclosures to its first half financial results.
For the annual performance, the price index ended last week recording  4.81% annual loss compared to its closing in 2013, while the weighted index increased by 7.65%, and the KSX-15 12.41% growth.
Sectors’ Indices
Eight of KSE’s sectors ended last week in the green zone, while the other four recorded declines. Last week’s highest gainer was the Consumer Goods sector, achieving 2.22% growth rate as its index closed at 1,323.44 points. whereas, in the second place, the Banking sector’s index closed at 1,116.36 points, recording 1.79% increase. The Oil & Gas sector came in third as its index achieved 1.62% growth, ending the week at 1,185.03 points. On the other hand, the Telecommunications sector headed the losers list as its index declined by 1.54% to end the week’s activity at 757.46 points. The Technology sector was second on the losers’ list, which index declined by 0.50%, closing at 943.91 points, followed by the Insurance sector, as its index closed at 1,168.48 points at a loss of 0.45%.
Sectors’ Activity
The Financial services sector dominated total trade volume during last week with 260.26 million shares changing hands, representing 45.55% of the total market trading volume. The Banking sector was second in terms of trading volume as the sector’s traded shares were 16.27% of last week’s total trading volume, with a total of 92.93 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 27.09 million or 37.17% 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 16.59 million represented 22.76% of the total market trading value. 
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By Bayan Investment

By: Bayan Investment

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