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Monday , October 14 2019

Boursa Kuwait ends trading in green

Boursa Kuwait ended last week in the green zone. The Premier Market Index closed at 5,455.85 points, up by 1.99%, the Main Market Index increased by 0.34% after closing at 4,963.10 points, and the All-Share Index closed at 5,280.86 points up by 1.44%. Furthermore, last week’s average daily turnover increased by 31.67%, compared to the preceding week, reaching around K.D 29 million, whereas trading volume average was about 152.22 million shares, recording an increase of 58.22%.

Boursa Kuwait three indices (Premier, Main, All Shares) were able to return once again to the green zone after the decreases it witnessed during the previous week, whereas it was able to compensate its losses supported by the purchasing powers that over controlled the trading activity in the Market during most of the daily sessions of the week, as it concentrated on leading and heavy stocks, especially on the Premier Market which acquired the largest percentage of the Market cash liquidity during the week.

Also, it was noticed during the last week an active purchasing operations on some listed stocks in the Main Market, which came as a result to the speculations that targeted some small-cap stocks after the decline in its prices and reaching tempting levels.

The Boursa was able to record weekly gains over KD 575 million, where the noticeable purchasing activity during most of the last week sessions pushed many stocks’ prices to increase, as the total market cap for the Boursa reached KD 29.28 billion, up by 2% from its level in a week earlier, which was KD 28.56 billion. The Boursa market cap gains since the application of the market segmentation increased to reach KD 1.42 billion, up by 5.11%.  (Note: The market capitalization for the listed stocks in the Market is calculated based on the weighted average number of outstanding shares as per the latest available official financial statements).

On the other hand, Boursa Kuwait is currently witnessing a general state of watch, waiting for the listed companies results for the first half of 2018, especially that about 35% of the total listed companies did not disclose such results yet, despite that the legal period for disclosures is about to end by the mid of the current month.  By the end of last week, the number of listed companies that disclosed its first half 2018 results reached 114 company out of 175 listed company in the Market, including the companies with different year end, and the total profit realized by the disclosed companies reached around KD 982.94 million, up by 9.90% compared to the results of the same companies for the same period of 2017, where it was then approximately KD 894.43 million.

Last week witnessed trading over 153 stock out of 175 listed stock in the Market, where prices of 88 stock increased against prices of 48 stock decreased, and prices of 39 stock remained at no change.

Sectors’ Indices

Nine of Boursa Kuwait’s sectors ended last week in the green zone, two recorded declines, while the Health Care sector’s index closed with no change from the week before. Last week’s highest gainer was the Basic Materials sector, achieving 5.59% growth rate as its index closed at 1,147.87 points. The Real Estate sector came in the second place, as its index closed at 1,020.32 points recording 3.02% increase. The Consumer Goods sector came in third as its index achieved 2.97% growth, ending the week at 908.93 points.

On the other hand, the Technology sector headed the losers list as its index declined by 2.17% to end the week’s activity at 982.13 points, followed by the Consumer Services sector, which index declined by 0.68%, closing at 1,051.14 points.

Sectors’ Activity

The Financial Services sector dominated a total trade volume of around 332.82 million shares changing hands during last week, representing 43.73% of the total market trading volume. The Banks sector was second in terms of trading volume as the sector’s traded shares were 26.44% of last week’s total trading volume, with a total of around 201.25 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 68.24 million or 47.06% of last week’s total market trading value. The Industrial sector took the second place as the sector’s last week turnover was approx. K.D 32.47 million representing 22.39% of the total market trading value.

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