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Traders watch share movements on the floor of Kuwait Stock Exchange.
Kuwait stocks close higher at 31.98 points Most sectors end in green zone

KUWAIT CITY, Aug 17: Kuwait stocks pulled a sturdy 31.98 points over the equator to 7266 points and began the week in the green across most sectors. The weighted index edged 0.81 points higher to a 490 points close and the KSE benchmark eased 2.61 points lower to a 1202.49 points finish.  A total of 4,155 trades were carried out in the session with a volume of 189.4 million shares exchanged to the value of KD 15.31 million. Of the 127 counters that remained active today, 57 drew to a close in the green, 28 in the red while 40 closed flat. The pack of top gainers was led by Al-Safat Tec Holding Company that recorded a 9.09% progress to 54 fils, trading a volume of 1.88 million in the session. Next, Kuwait Syrian Holding Company advanced to 28 fils, recording a 7.69% increase, and traded 4.6 million shares. At the same time, Specialities Group Holding Co leaped 6.25% ahead to 170 fils while Humansoft Holding Co and Taameer Real Estate Investment Co both marked a 6.1% increase in share price to 435 fils and 43.5 fils respectively. 
 
On the other hand, Ras Al Khaimah Co. For White Cement Construction Materials suffered a 5.97% plummet to 126 fils while Mashaer Holding Company dropped to 184 fils with low activity. IFA Hotels & Resorts Co took a 4.35 turn in to the red to close at 220 fils while National Industries Company fell 4.31% lower to 222 fils and United Real Estate Company stood at 104 fils at the day’s close, 3.7% lower than the last trading session.  Gulf Finance House topped the session in terms of volume and value traded; closing at 42 fils, the counter traded a robust 26.21 million shares for a value of KD 1.1 million. Following in close step, Gulf Petroleum Investment held ground at 90 fils while trading 11.3 million shares for a total value of KD 1.03 million. Kuwait Real Estate Company moved 10.8 million shares in the session towards a 76 fils finish, up by 1.33 % from the previous session. 
 
High
The Commercial Real Estate Co witnessed high activity as 10.5 million shares were traded towards a 3.16% price rise to 98 fils at closing and Safat Energy Holding Company, closing flat at 37 fils, traded 8.7 million shares.  The banking sector closed at 1119 points and accounted for 2.75% of the total market volume and 6.25% value of the total market. National Bank of Kuwait shed 10 points to 990 fils in low trading activity while Gulf Bank closed flat at 350 fils.  Commercial Bank of Kuwait, conversely, heaved 40 points ahead to close at 710 fils and Ahli United Bank scaled 10 points higher to a 670 fils close.  Al Ahli Bank of Kuwait and Warba Bank also advanced by 5 points to 430 fils and 280 fils respectively. Kuwait International Bank trudged 5 points lower to 320 fils and Kuwait Finance House dwindled to 820 fils marking a 10 point contraction. Meanwhile, Burgan Bank and Boubyan Bank bank closed flat at 530 fils and 510 fils respectively. 
 
Financial Services, up by 0.94%, made up over half of the total volume traded and 39.41% of the market’s value. Even as Gulf Finance House eased 1 point lower to 42 fils, National Investments Company spurted a 6 point increase in share price to 164 fils. Then, Alimtiaz Invesment Group mounted 3 points higher to 78 fils while trading a volume of over 5.7 million shares in the session. Kuwait Projects Company Holding (KIPCO) recorded no change in share price at the day’s close, trading 491,422 shares for a 730 fils close. Meanwhile, Privatization Holding Company and Securities House advanced by 3 points to 69 fils and 73 fils respectively and Gulf North Africa Holding Company climbed one point higher to a 50 fils close. 
Also, Manazel Holding Company moved 2 points upward to 54 fils and Al Madina for Finance and Investment recorded a 0.5 point rise to 43.5 fils. Coast Investment and Development Company closed a 64 fils with a 3 point addition to its share price and International Financial Advisors steadied itself at 57 fils. Al Deera Holding Company took a 1 point upturn to 29.5 fils and  Ekttitab Holding Company closed flat at 52 fils. Boubyan International Industries Holding Company, Al Aman Investment Company and Kuwait Syrian Holding Company each gained 2 points to close at 88 fils, 79 fils and 28 fils respectively. 
 
Surged
The real estate sector closed at 1236 points. The Commercial Real Estate Company expanded by 3 point to 98 fils while Mabanee Company surged 40 points ahead to KD 1.080. Kuwait Real Estate Company and Al Mudon International Real Estate Company finished with small 1 point gains to close at 76 and 86 fils respectively. Sokouk Holding Company slumped to 81 fils, 1 point lower than the previous session and Al Mazaya Holding Company went up by 2 points to 120 fils.  Concurrently, Al Arabia Real Estate Company closed flat at 53 fils and Abyaar Real Estate Development Company eased 0.5 points lower to 46 fils. 
Telecommunications marked a 1.06% growth to 769.6 points. Mobile Telecommunications Company - Zain held ground at 660 fils and exchanged 614,433 shares while Ooredoo closed flat at KD 1.5 in low trade. Hits Telecom Holding Company, on the other hand, gained 2 points in share price, closing at 52 fils, trading 5.5 million in volume for a total value of KD 286,266 in the session. In the Oil and Gas sector, Gulf Petroleum Investment and Al-Safat Energy Holding remained unchanged at 90 fils and 37 fils. The Energy House Company added 2 points to its share price and closed at 83 fils while Independent Petroleum Group advanced to 460 fils with a 10 point hike. In industrials, Agility Public Warehousing Company stood firm at 830 fils while Equipment Holding Company and Gulf Cement Company gained 4 points each to 128 fils and 112 fils respectively. 
 
In consumer goods, Danah Al Safat Foodstuff Company stood at 78 fils with a 3 point increase in price. Meanwhile, in consumer services, Sultan Center Food Products Group Co slipped 2 points lower to 108 fils and Soor Fuel Marketing Company moved 2 points higher to 150 fils. Oula Fuel Marketing Co pursued 2 points higher in the green at 156 fils, Al Rai Media Group closed flat at 134 fils and Jazeera Airways trailed 10 points lower to 445 fils. In the insurance sector, Wethaq Takaful Insurance Company closed 2 points higher at 64 fils while Al-Ahleia Insurance Company and Warba Insurance Company closed flat at 490 fils and 140 fils. In basic materials, Boubyan Petrochemical Co posted a 10 point expansion to 76 fils and Qurain Petrochemical Industries Co slid 2 points below to a 244 fils stop. 
 

By Cinatra Fernandes

Arab Times Staff

 


By: Cinatra Fernandes

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