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Kuwait stocks close at 11.50 points lower GFH trades highest volume of shares

KUWAIT CITY, Aug 14: Kuwait stocks slumped 0.16% or 11.50 points lower to finish in the red at 7234.21 points. The weighted index crept 0.33 points higher to 489.19 points as the market breadth closed on a mixed note.   A total volume of 282.86 million was transacted in 4667 trades to the value of KD 26.25 million. The KSE benchmark positioned itself at 1205.1 points in the green with 317 trades exchanging a volume of 14.23 million shares at KD 9.3 million. Of the 130 counters that traded in the session, 35 advanced while 54 suffered drops and 41 closed flat. 
 Ras Al Khaimah Co For White Cement Construction Materials, led the pack of gainers with a 8.06% growth spurt to 134 fils, Zimah Holding Company followed in step with a 7.81% hike to 138 fils at the session’s close. Educational Holding Group leaped ahead to 156 fils with a 6.85% increase and Massaleh Real Estate Company moved 6.58% higher to 81 fils.  Kuwait Investment Company made it to the list of top gainers with a 5.26% increase to 160 fils. 
Meanwhile, Credit Rating and Collection suffered a 7.02% contraction to finish at 53 fils and Kuwait and Middle East Financial Investment Company closed at 48.5 fils in the red with a 6.73% decrease. Al Deera Holding Company slipped 6.56% under to 28.5 fils while the The Energy House closed at 81 fils with a 5.81% fall. Salbookh Trading Company also suffered a tumble to 100 fils at the day’s close marking a 5.66%  plunge.  Gulf Finance House traded the highest volume of shares with 58.3 million shares, Al Safat Tec Holding Company saw a robust 56.6 million traded while 26.23 million of Kuwait Real Estate Company’s shares were transacted. Coast Investment and Development Company traded 15 million shares during the session. 
The Banking sector closed 2.72 points higher in the green at 1115.38 points. National Bank of Kuwait, Gulf Bank and Commercial Bank of Kuwait closed flat at KD1, 350 fils and 670 fils respectively. Meanwhile, Al Ahli Bank of Kuwait mounted 5 points to a 425 fils close and Kuwait International Bank also scaled 5 points higher to 325 fils. Burgan Bank, Boubyan and Kuwait Finance House all closed flat at 530 fils, 510 fils and 830 fils respectively. Even as Ahli United Bank gained 2 points to finish at 232 fils in the session, Ithmaar Bank slouched 0.5 points lower to 47.5 fils and Warba Bank closed at a flat 275 fils while trading the top volume of 1.6 million shares in the sector. 
The telecommunications sector closed at 761.5 points, a 0.68% rise to green. Zain closed flat at 660 fils while trading 1.78 million shares for a value of KD 1.18 million while Ooredoo grew by 1.35% to close at KD 1.5. Hits Telecom Holding Company closed at 50 fils, moving up 0.5 points while trading 2.13 million shares in the session. 
Financial Services made up 43.31 % of the day’s volume and 25% of the day’s market value while sliding to a 987.5 close, down 0.28%. Kuwait Investment Company marked a 5.26% positive change to 160 fils while Kuwait Syrian Holding Company rose 4% to 26 fils and Al Aman Investment Company closed at 77 fils, 2.67% higher than the previous session.  
At the same time, Kuwait China Investment Company trudged 1.79% higher to 57 fils. Commercial Facilities Company shed 5 points to 280 fils but International Financial Advisors and National Investments Company Kuwait Projects Company closed flat at 57 fils and 158 fils respectively.  Bayan Investment Company eased 1 point lower to 78 fils, as did Ekttitab Holding Company to 52 fils while Al Madina for Finance and Investment Company closed flat at 43 fils and Gulf North Africa Holding Company closed at 49 fils with a 0.5 point push to the green. 
Real Estate closed at 1231.5 points, down 0.64% from the previous session and accounted for 21.74% of the day’s volume and 18% of the market value. Top gainers in the sector included Massaleh Real Estate Company with a 6.58% increase to 81 fils, Al Arabiya Real Estate Company edged 3.92% higher to 53 fils, Tijara & Real Estate Company clambered 1.45% upwards to 70 fils while Ajial Real Estate Entertainment Company advanced by 0.96% to a 210 fils close. 
The oil and gas sector closed 1.17% lower at 1196.31 points after a 14.13 percent fall over a volume of just over 10.5 million. Ikarus Petroleum Industries Company slumped 4 points lower to 180 fils over a volume of 585,010 shares while Safat Energy Holding Company closed flat at 37 fils trading 1.9 million on the floor. Independent Petroleum Company shed 25 points to 450 fils while The Energy House eased 5 points lower to 81 fils.  Gulf Petroleum Investment was the only gainer in the sector, climbing 2 points to 90 fils.  
The Industrial sector closed at 1153.8 points, up by 18% and made up 25.24% of the session’s market value.  Agility Public Warehousing Company shot up 10 points to 830 fils and traded 6.7 million shares for a value of KD 5.6 million. Gulf Cement Company dived 4 points lower to 108 fils and traded 2.5 million shares in the session. 
In the Technology Sector, Hayat Communications Company trudge 1 point higher to 82 fils with minimal activity and Al Safat Tec Holding Company eased 0.5 points lower to 49.5 fils and traded 56.6 million shares for a value of KD 2.8 million. 
The Insurance Sector recorded no change from the previous trading session and stodd at 1181 points. Warba Insurance Company and Wethaq Takaful Insurance Company both closed flat at 140 fils and 62 fils respectively with very low activity on the floor. 
In Consumer Services, Al Rai Media Group Company surged 4.69% ahead with a 134 fils close, Jazeera Airways Company moved 3.41% upwards to 455 fils and Soor Fuel Marketing Company  climbed to 148 fils with a 1.37% increase while Kuwait National Cinema stood at 950 fils in the green.

By Cinatra Fernandes

Arab Times Staff 

By: Cinatra Fernandes

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