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KSE ebbs 12.36 pts lower to close at 7,396.2 points Pearl of Kuwait session’s top gainer

KUWAIT CITY, Aug 27: Kuwait stocks ebbed 12.36 lower to close at 7,396.2 points in the red with most sectorial indices on the decline in low activity. The weighted index dipped 0.36 points lower to 490.72 points. The KSE benchmark pushed 1.87 points higher to a 1,201.59 points close. A total of 4,711 trades were carried out in the session, with a low volume turnover of 218.44 million shares for a total value of KD 17.26 million. A total of 128 counters remained active with only 30 making progress, 60 closed in the red and 38 recorded no change. Pearl Of Kuwait Real Estate Co expanded by 9.38 percent in share price to 17.5 fils to become the session’s top gainer while Independent Petroleum Group and Boubyan International Industries Holding Co followed with 5.62 percent and 5.49 percent increases to 470 fils and 96 fils. Gulf Petroleum Investment traded 7.6 million shares in the session and grew 3.85 percent to close at 108 fils and Ras Al Khaimah Co. For White Cement & Construction Materials up 3.23 percent closed at 128 fils. 
 
Tumble
National Consumer Holding Company took a hard tumble to 73 fils, losing 6.41 percent in price and Amwal International Investment Co crashed 5.66 percent below the red line to 50 fils. Livestock Transport & Trading Co fell to 198 fils with a 4.81 percent contraction and Kuwait And Middle East Financial Investment Co slipped to 52 fils with a 3.7 percent decrease. At the same time, Commercial Facilities Co dropped 3.39 percent lower to 285 fils. Gulf Finance House marked the highest volume yield, trading over 45.6 million shares to a 42.5 fils close, 1.16 percent lower. Al-Mal Investment Company, holding ground at 49 fils, traded 27.85 million shares.  The telecom sector closed at 765.5 points, 0.12 percent higher. Mobile Telecommunications Company — Zain steady at 650 fils traded 224,435 shares while Ooredoo Kuwait ebb lost 20 points to close at KD 1.480 and Hits Telecom Holding Company traded 2.3 million shares to close at 53 fils with a 1 point increment. 
 
The banking index stood at 1,111.8 points, down by 0.65 percent, down by 33.43 percent in volume and 56.70 percent in value from the previous session. Kuwait Finance House clambered 10 points down to 810 while National Bank of Kuwait swelled by 10 points to a KD 1 finish. Ithmaar Bank took a 1.5 point nip to 48 fils while Boubyan Bank closed flat at 510 fils. Gulf Bank and Warba Bank sloped 5 points lower to 270 fils and 340 fils. Meanwhile, Kuwait International Bank and Burgan Bank marked no change at 320 fils and 540 fils respectively. Commercial Bank of Kuwait took a 20 point nose-dive to 680 fils. 
Financial Services index closed at 1,020.1 points with a 0.16 percent contraction making up 58.54 percent of the total volume and 41.31 percent pf the total value in the market. Gulf Finance House crept 0.5 points low to 42.5 fils while Al-Mal Investment Company stood stale at 49 fils. Gulf North Africa Holding Company and Privatization Holding Company made a 1 point progress to 52 fils and 72 fils respectively.
 
Al Salam Group Holding went up 2 points to 104 fils and Coast Investment and Development Company pulled off a 1 point increase to 69 fils. Boubyan International Industries Holding Co took off 5 points higher to 96 fils while Kuwait Projects Company Holding (KIPCO), Bayan Investment Company and National Investments Company closed flat at 730 fils, 83, and 162 fils respectively.  Ekttitab Holding Company also posted no change, closing at 56 fils while First Investment Company slipped 2 points lower to 97 fils. Alimtiaz Investment Group stumbled 1 point down to 77 fils and Al-Madina For Finance And Investment Co slithered 0.5 points lower to 44.5 fils. At the same time, International Financial Advisors lumbered 1 point lower to 60 fils while Kuwait Syrian Holding Co rusted at a 25.5 fils share price, Housing Finance Co took a 0.5 point upswing to 23.5 fils. 
 
Curtailment
Real Estate faced a 0.18 percent curtailment to 1,264.8 points. Mabanee Co. held ground at KD 1.060 while Kuwait Real Estate Company slithered 1 point lower to 80 fils, trading 5.14 million shares. Al-Enma’a Real Estate Co, concurrently, trailed 1 point higher to 86 fils and Al Mudon International Real Estate Company keeled 3 points down to 87 fils. Al Arabiya Real Estate Company shed 2 points to close at 57 fils while Abyaar Real Estate Development Company remained flat at 50 fils. Sokouk Holding Co trudged 2 points lowe to 89 fils and A’ayan Real Estate Co stagnated at 100 fils. International Resorts Company slumped 1 popint lower to 60 fils while Injazzat Real Estate Development Company rolled 1 point higher to 81 fils. National Real Estate Company went down 2 points to close at 154 fils while Kuwait Remal Real Estate Company slipped 1 point below to 83 fils.
 
Al Mazaya Holding Company closed flat at 116 fils while Tijara & Real Estate Investment Co and The Commercial Real Estate Co took marginal 1 points augments to 73 fils and 98 fils respectively. 
The Oil and Gas sector closed at 1,277.5 points in the green with a 1.77 percent rise. Gulf Petroleum Investment climbed 4 points higher to 108 fils while Al-Safat Energy Holding dipped 0.5 points lower to 40 fils. Ikarus Petroleum Industries Co trekked 6 points higher to 198 fils while Independent Petroleum Group leaped 25 points ahead to 470 fils. Industrials moved to 1,174.7 points, down by 0.41 percent from the last session. Mubarrad Transport Co sagged 2 points lower to close at 84 fils and Salbookh Trading Company also slumped 2 points below the line to 102 fils. Equipment Holding Company and Agility Public Warehousing Company closed flat at 136 fils and 870 fils respectively.
 
KGL Logistics Company went up 2 points to 132 fils while National Cleaning Co slithered 2 points under to 106 fils. While Combined Group Contracting Co rose by 10 point to 970 fils, Kuwait Portland Cement Company dived 20 points down to KD 1.360. Technology stood at 976.2 points, 0.85 percent under. Al-Safat Tec Holding Company and Hayat Communications Co plodded 1 point down to 60 fils and 80 fils while Future Communications Co. Global cast off 2 points to close at 130 fils.  Basic Materials noted a 0.69 percent increase to 1231.8 points. Boubyan Petrochemical Company mounted 10 points to 760 fils while Kuwait Foundry Co took a 5 point upturn to 325 fils and Qurain Petrochemical Industries Company closed flat at 250 fils. In healthcare, Yiaco Medical Co lunged 4 points down to 242 fils. 
 
In the insurance sector, Warba Insurance Company skid 2 points lower to 146 fils trading a volume of 13,863 shares. In consumer goods, Kuwait Food Company (Americana) boosted by 80 pints closed at KD 3.200 and Danah Al Safat Foodstuff Company inched 1 point below to 87 fils. Meanwhile in consumer services, IFA Hotels & Resorts Co and Sultan center food products Co curved 2 points downwards to 222 fils and 104 fils respectively. Al Rai Media Group closed flat at 134 fils while Kuwait Resorts Company crawled 1 point lower to 97 fils. 
 
 By Cinatra Fernandes 
Arab Times Staff

By: Cinatra Fernandes

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