Monday , December 17 2018

Boursa closes week’s trading in green zone – Volume dips 15.68 pct

Boursa Kuwait ended last week in the green zone. The Price Index closed at 6,892.10 points, up by 0.10% from the week before closing, the Weighted Index increased by 0.24% after closing at 430.57 points, whereas the KSX-15 Index closed at 984.90 points up by 0.44%. Furthermore, last week’s average daily turnover decreased by 6.91%, compared to the preceding week, reaching K.D 14.43 million, whereas trading volume average was 77.80 million shares, recording a decrease of 15.68%.

Boursa Kuwait indices were able to end the trading of the last week prior to Adha Eid in the green zone in light of the purchasing and collection operations that were executed mostly on the leading stocks, which appeared clearly on the performance of the Weighted and KSX-15 indices, the most increasing ones compared to its peer, the Price Index, which benefited in turn from the random purchasing operations and the quick speculations that included some small-cap stocks listed in the market, which pushed it to end the week’s trading in the green zone.  Also, the market realized its weekly gains despite the profit collection operations that were present to negatively affect the trading behaviour during some daily sessions of the week, whereas such operations succeeded in pulling the market indices to the red zone, especially on the last trading session of the week, which lightened its weekly gains to a certain extent.

As far as the daily trading activity; the market initiated the first session of the week with an increase to all its indices in light of the active positive trading and the purchasing operations that included many listed stocks headed by the leading and the heavy ones, in addition to the quick speculative operations executed on some small-cap stocks, especially the stocks being traded below 100 fils.

On Monday and Tuesday sessions, the three market indices witnessed fluctuations towards its closings, as the Price Index dropped in light of the profit collection operations executed on some small-cap stocks, while the Weighted and KSX-15 indices were able to record additional gains, however limited, affected by the random purchasing operations executed on some heavy stocks.

The market witnessed on the last session of the week a grouped losses for the three indices, affected by the profit collection operations that included many stocks of previous gains, and included both leading or small-cap stocks.

For the annual performance, the Price Index ended last week recording 19.90% annual gain compared to its closing in 2016, while the Weighted Index increased by 13.28%, and the KSX-15 recorded 11.29% growth.

Sectors’ Indices

Seven of Boursa Kuwait’s sectors ended last week in the green zone, while the other five recorded decreases. Last week’s highest gainer was the Consumer Goods sector, achieving 2.05% growth rate as its index closed at 1,083.55 points. Whereas, in the second place, the Consumer Services sector’s index closed at 1,062.18 points recording 1.17% increase. The Real Estate sector came in third as its index achieved 0.88% growth, ending the week at 976.77 points.

On the other hand, The Health Care sector headed the losers list as its index declined 3.6.69% to end the week’s activity at 1,510.51points. The Financial Services sector was second on the losers’ list, which index declined by 0.93%, closing 692.01 points, followed by the Technology sector, as its index closed at 607.02 points at a loss of 0.44%.

Sectors’ Activity

The Financial Services sector dominated a total trade volume of around 126.70 million shares changing hands during last week, representing 40.71% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 25.41% of last week’s total trading volume, with a total of around 79.07 million shares.

On the other hand, the Banks sector’s stocks were the highest traded in terms of value; with a turnover of around K.D 19.77 million or 34.24% of last week’s total market trading value. The Financial Services sector took the second place as the sector’s last week turnover was approx. K.D 12.15 million representing 21.04% of the total market trading value.

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