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File photo shows a trading session at the Kuwait Stock Exchange
KSE index ebbs 8.12 pts lower to end 7,422.39 pts 37 firms advance, 53 decline

KUWAIT CITY, Sept 1: Kuwait stocks ebbed 8.12 points lower to stand 7,422.39 points marking a 0.11 percent contraction. The weighted index also inched 1.74 points lower to 490.31 points in the red.  The KSE benchmark eased below the line to wind up at 1,196.34 points, down by 4.07 points from the previous session. Total volume traded sagged down to 214.9 million shares traded for a total value of KD 20.32 in 5,045 trades. 139 counters remained active today with the losers overtaking the winners; 37 companies advanced, 53 declined and 49 closed with no change.  
 
Ajwan Gulf Real Estate Co led the pack of gainers with a 8.33 percent upswing to 65 fils with Al-Qurain Holding Co followed closely with a 7.58 percent rise to 35.5 fils. At the same time, National Consumer Holding Company expanded by 6.67 percent to 80 fils and City Group Co grew by 6.25 percent in the session to close at 425 fils. Future Kid Entertainment and Real Estate Co closed at 118 fils, up by 5.36 percent. Commercial Bank Of Kuwait took the hardest tumble of the day, falling 6.76 percent lower to 690 fils while Pearl Of Kuwait Real Estate Co shed 5.71 percent off its share price to finish at 16.5 fils.
 
Meanwhile, Salbookh Trading Co dropped 5.1 percent lower to 93 fils and Housing Finance Co. closed at 25 fils, casting off 3.85 percent with National Cleaning Co following in step with a 3.7 percent slide down to 104 fils. Gulf Finance House traded the highest volume of 30.4 million shares, flaking 2.3 percent of its share price from the previous session while Bayan Investment Co traded 12.28 million shares and Salbookh Trading Co traded 10.8 million. 
 
Upswing
The telecommunications index stood at 764.6 points higher by 0.41 percent. Mobile Telecommunications Company — Zain held ground at 650 fils while Ooredoo closed at KD 1.5 with a 20 point upswing. Hits Telecom Holding Company closed flat at 52 fils while trading 1.36 million shares. Banking Sector closed at 1,110.7 points, in the red by 0.48 percent, albeit with increased volume and value traded than the previous session. National Bank of Kuwait clambered 10 points down to 990 fils trading 1.19 million shares while Kuwait Finance House closed flat at 810 fils. Warba Bank closed flat at 270 fils and Ithmaar Bank eased 0.5 points down to 47.5 fils. Boubyan Bank shed 10 points in the session, closing at 500 fils while Al Ahli Bank Of Kuwait and Kuwait International Bank took a 5 point augment to close at 430 fils and 330 fils respectively. Burgan Bank and Gulf Bank closed flat at 530 fils and 340 fils while Commercial Bank of Kuwait cast off 50 points to close at 690 fils. 
 
Financial Services index stood at 1,030.2 points with the sector making up 58.76 percent of the total market volume and 39.63 percent of the total value. Gulf Finance House eased 1 point down to 42 trading the highest volume on the floor while Bayan Investment Company and A’ayan Leasing & Investment Co gained 2 points to close at 88 fils and 85 fils respectively. Inovest, Boubyan International Industries Holding Co and Al-Mal Investment Company marked no change in the session, closing at 79 fils, 100 fils and 45.5 fils respectively. Manazel Holding scurried 1 point higher to 57 fils while First Investment Company climbed 2 points to 102 fils. 
 
Meanwhile, Coast Investment and Development Company closed flat at 67 fils while Al Imtiaz Investment Group and Al Salam Group Holding plunged 2 points down to 79 fils and 102 fils. National Investments Company budged 2 points higher to 164 fils and National Industries Group closed at 224 fils in the red, down by 2 points. International Financial Advisors skid 1 point lower to 60 fils and Al Deera Holding Company 0.5 points to 28.5 fils. Securities House and Gulf North Africa Holding Company edged 1 point lower to 82 fils and 53 fils while Privatization Holding Company and Ekttitab Holding Company closed flat at 70 fils and 56 fils respectively. 
 
Real Estate sector marked a 0.34 percent contraction and closed at 1265.7 points. Al Mudon International Real Estate Company and Al Mazaya Holding Company suffered a 2 point crash to 93 fils and 116 fils each while Al-Enma’a Real Estate Co took a 2 point increment to 88 fils. Abyaar Real Estate Development Company and Kuwait Remal Real Estate Company took a 1 point cut down to 50 fils and 84 fils while Injazzat Real Estate Development Company clambered 1 point upwards to 81 fils. A’ayan Real Estate Co, at the same time, gained 2 points to close at 104 fils and Sokouk Holding Co closed flat at 88 fils. Mabanee Co surged 20 points ahead to a KD 1.060 fils close while Al Arabiya Real Estate Company dipped 1 point lower to 56 fils.
 
Higher
The Oil and Gas sector closed at 1,288 points. Gulf Petroleum Investment climbed 2 points higher to 110 fils while Al-Safat Energy Holding closed flat at 39.5 fils and Ikarus Petroleum Industries Co skid 2 points lower to 194 fils. At the same time, The Energy House Holding Company pulled 1 point higher to 86 fils.  Basic Materials stood at 1,265.8 points. Qurain Petrochemical Industries Company heaved 2 points below the line o 248 fils and Boubyan Petrochemical Company closed at a stale 770 fils while Kuwait Foundry Co gained 15 points to 365 fils. 
 
Curb
Industrials sector closed 0.12 percent lower at 1165 points, facing a 16.75 percent curb in total volume traded and 29.88 percent fall in value from the previous day. Salbookh Trading Company slipped 5 points down to 93 fils while Equipment Holding Company mounted 6 points to close at 154 fils. Mubarrad Transport Co pulled 2 points lower to 88 fils and National Cleaning Co slumped 4 points under to 104 fils. Gulf Cable & Electrical Industries Co took a 10 point dive to 790 fils while Fujairah Cement Industries Co crawled 1 point down to 85 fils. Agility Public Warehousing Company, meanwhile advanced to 880 fils, up 10 points. In technology, Al-Safat Tec Holding Company added 1 point to stand at 63 fils while Hayat Communications Co took a 3 point lunge down to 83 fils. Future Communications Co. Global, concurrently, shifted 2 points higher to 132 fils.  In healthcare, Yiaco Medical Co scaled 4 points higher to 240 fils. In insurance, Warba Insurance Company closed flat at 150 fils in low trade while Wethaq Takaful Insurance Company went down 2 points to 63 fils. 
 
In consumer goods, Kuwait Food Company (Americana) fell 60 points down to KD 3.140. Danah Al Safat Foodstuff Company closed flat at 87 fils trading 1.5 million shares in the session while Livestock Transport & Trading Co stagnated at 196 fils. Meanwhile in consumer services, Sultan center food products Co sagged 2 points lower to 106 fils while Jazeera Airways Co closed at 460 fils with a 5 point boost and Al Rai Media Group Company closed flat at 142 fils. IFA Hotels & Resorts Co inched 2 points lower to 222 fils and Kuwait Resorts Company scrambled 1 point lower to 98 fils. In bourse related news, VIVA Kuwait, the country’s number-two mobile operator by subscribers, has received regulatory approval to list on the local stock exchange nearly six years after it completed an initial public offering.
 

By Cinatra Fernandes 

Arab Times Staff

By: Cinatra Fernandes

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