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Trader watches share movements at the Kuwait Stock Exchange.
KSE ebbs 8.47 points, ends week in red zone Gulf Finance House trades highest volume

KUWAIT CITY, Sept 4: Kuwait stocks ebbed 8.47 points lower to stand at 7453.75 points to end the week 0.11 percent in the red. The weighted index stood at 492.38 points, down by 0.69 points.  The KSE benchmark dipped 1.78 points lower to 1201.91 points. The bourse marked a comparatively low turnover of 177.38 million shares to the total value of KD 18.29 million in 4789 trades. 146 counters were active in the session with 46 companies advancing, 57 companies facing decline and 43 marking no change.

Gulf Franchising Holding Co was the top gainer of the session, closing at 74 fils, 7.25 percent higher, Al-Qurain Holding Co followed in close step with a 7.14 percent increase to 37.5 fils. Salhia Real Estate Co shot up 6.85 percent to 390 fils and Union Real Estate Company closed at 168 fils, 6.33 percent higher. City Group Co made it to the list of top gainers with a 5.88 percent surge to 450 fils albeit with marginal activity.

Al-Deera Holding Co took the hardest tumble of the day, falling 9.09 percent in share price to close at 25 fils. Al Shamel International Holding Co faced a 8.65 percent reduction to 95 fils and National Petroleum Services Company followed in step with a 8.06 percent curb to 570 fils. Contracting & Marine Services Co dwindled 5.71 percent lower to 132 fils while Taiba Kuwaiti Holding Co stepped 5.33 percent lower to 71 fils.

Gulf Finance House traded the highest volume of the session, exchanging 19.02 million shares to close 1.2 percent lower at 41 fils. Al-Deera Holding Co came in second trading 14.14 million shares. Al-Mazaya Holding Co and Al-Qurain Holding Co traded over 6.7 million shares and First Investment Company moved a bulk of 6.35 million shares.

Telecommunications posted a 0.65 percent increase to 770.5 points. Mobile Telecommunications Company — Zain took a 10 point upturn to close the week in the green at 670 fils while Ooredoo remained stable at KD 1.5 and Hits Telecom Holding Company also posted no change to its 51 fils share price.

The Banking Sector closed 0.415 lower in the red at 1,107.3 points. National Bank of Kuwait slumped 10 points lower to 990 fils while Kuwait Finance House and Warba Bank closed flat at 810 fils and 270 fils respectively.

Kuwait International Bank and Boubyan Bank remained stagnant in their share prices, closing the week on a flat 325 fils and 510 fils. Al Ahli Bank Of Kuwait slid 5 points lower to 425 fils and Ithmaar Bank edged 1 point down to 46 fils. At the same time, Gulf Bank and Burgan Bank closed flat at 340 fils and 530 fils while Commercial Bank of Kuwait slithered 10 points down to 700 fils.

Financial Services closed 0.295 lower in the red at 1,030 points. Gulf Finance House closed at 41 fils, with a 0.5 points downward slant while First Investment Company grew by 2 points to 104 fils. Kuwait Projects Company Holding (KIPCO) took a 10 point plummet to 720 fils while Al Deera Holding Company inched 2.5 points lower to 25 fils. National Industries Group scrambled 2 points higher to 230 fils and Inovest remained unchanged at 81 fils. Al-Mal Investment Company edged 0.5 points higher to 42.5 fils and Bayan Investment Company stumbled 2 points lower, closing at 88 fils.

Al-Qurain Holding Co moved 2.5 points higher and International Financial Advisors plunged 2 points lower to 59 fils. Al-Madina For Finance And Investment Co, meanwhile, closed 0.5 higher at 42.5 fils and A’ayan Leasing & Investment Co pulled off a 1 point increase to 85 fils.

Coast Investment and Development Company closed at a flat 67 fils and Kuwait Investment Company lunged 6 points lower to 146 fils. Manazel Holding stood stale at 57 fils and Boubyan International Industries Holding Co shifted 3 points lower to 99 fils. Alimtiaz Investment Group dawdled 1 point lower to 79 fils while Al Salam Group Holding trekked 2 points higher to 102 fils.

Real Estate index stood at 1278 points, up by 0.36 percent. Al Mazaya Holding Company took a 4 point hike to 124 fils while Al Mudon International Real Estate Company held ground at a 95 fils share price. First Dubai for Real Estate Development scored a 5 point rise to 99 fils while National Real Estate Company closed flat at 158 fils.

Injazzat Real Estate Development Company slipped 1 point down to 81 fils and International Resorts Company took a 3 point cut to its share price. Closing at 57 fils.

The Commercial Real Estate Co scaled 1 point higher to 99 fils and Abyaar Real Estate Development Company inched 1 point lower to 51 fils. A’ayan Real Estate Co closed 4 points under the red line at 102 fils while Sokouk Holding Co and Real Estate Trade Centers Co closed flat at 897 fils and 44.5 fils respectively.

Technology marked a 1.23 percent rise to close at 1,027.3 points. Al-Safat Tec Holding Company and Hayat Communications Co both traced a 2 point rise to 66 fils and 85 fils respectively.

In healthcare, Yiaco Medical Co closed flat at 242 fils. Insurance, Wethaq Takaful Insurance Company closed at 156 fils, up 2 points higher in the green.

In consumer goods, Kuwait Food Company (Americana) took a 40 point upswing to KD 3.140, trading a volume of 148,384 while Danah Al Safat Foodstuff Company clambered 3 points upwards to 91 fils. Livestock Transport & Trading Co stood at 198 fils with a 2 point boost to its share price. In consumer services, Sultan center food products Co and Jazeera Airways Company closed flat at 110 fils and 455 while Kout Food Group shed 10 points to close at 890 fils. Concurrently, Soor Fuel Marketing Co closed flat at 150 fils while IFA Hotels & Resorts Co sagged 8 points lower to 208 fils.

The Oil and Gas sector closed 1,255.6 points, down by 1.70 percent. Gulf Petroleum Investment climbed 2 points higher to 106 fils trading over 5.74 million shares on the floor while Al-Safat Energy Holding closed flat at 39.5 fils. Ikarus Petroleum Industries Co mounted 2 points higher to 198 fils while The Energy House Holding Company crept 1 points higher to 88 fils.

In basic materials, Qurain Petrochemical Industries Company, Boubyan Petrochemical Company and Kuwait Foundry Co all closed flat at 248 fils, 760 fils and 385 fils respectively.

The industrials index stood at 1,173.5 points, down 0.22 percent. Agility Public Warehousing Company shed 10 points in trading to close at 900 fils, exchanging a volume of 1.28 million shares. Equipment Holding Company dropped 6 points lower to 15 fils and traded 3.02 million shares while Salbookh Trading Company inched 1 point higher to 88 fils and traded a robust 5.4 million.

Sharjah Cement And Industrial Development Co eased 3 points lower to 97 fils and traded 1.3 million shares while Mubarrad Transport Co and Gulf Cement Company shifted 2 points lower to 90 fils and 110 fils respectively. Combined Group Contracting Co cast off 30 points and fell to 920 fils while Gulf Cable & Electrical Industries Co eased 10 points lower to 800 fils.

By Cinatra Fernandes

 Arab Times Staff

By: Cinatra Fernandes

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