Bourse ends first week’s trading of 2017 in green

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Boursa Kuwait ended last week in the green zone. The Price Index closed at 5,831.19 points, up by 1.45% from the week before closing, the Weighted Index increased by 1.25% after closing at 384.86 points, whereas the KSX-15 Index closed at 898.24 points up by 1.49%. Furthermore, the week’s average daily turnover increased by 12.95%, compared to the preceding week, reaching KD 20.18 million, whereas trading volume average was 221.39 million shares, recording an increase of 17.58%.

The three Boursa indices were able to end the first week’s trading of 2017, which was limited to four sessions only, with good gains supported by the continued control of the purchasing powers over the trading activity, amid traders’ concentration on the stocks that are expected to announce positive results and good distributions for the year ended; also, the Boursa received some support from the continued quick speculative operations that concentrated semi-primarily on the small-cap stocks. The Boursa witnessed such performance in light of a noticeable growth in the trading levels compared to a week earlier, especially the cash liquidity which reached in once daily session of the week about KD 28 million, its highest level since last October.

Moreover, the Kuwait Boursa initiated the first session of 2017 with a grouped increase for the three indices, supported by the speculative trading executed on the small-cap stocks in particular, which positively reflected on the Price Index performance, the most increasing Index at the end of the session compared to the Weighted and KSX-15 indices, which realized relatively limited gains due to the purchasing operations’ concentration on the stocks of low values, which caused the cash liquidity levels to noticeably drop during the session, as it reached by the end of it around KD 9 million, down by 50% when compared to the previous session.

The second session of the week witnessed fluctuation in the three indices’ performance, whereas the Price Index closed with limited loss affected by the profit collection operations that included few small-cap stocks, while the Weighted and KSX-15 indices closed in the green zone supported by the return of the purchasing and collection operations executed on the leading stocks, which was reflected on the three trading indicators, especially the cash liquidity, that increased by almost 129% to reach KD 20 million by the end of the session.

On Wednesday’s session, the three Boursa indices returned to meet in the green closing zone, supported by the continued purchasing operations that concentrated on the heavy stocks, in addition to the quick speculative operations received by the small-cap stocks, especially of values below 100 fils. However, the trading indicators continued in increasing for the second consecutive session, whereas the cash liquidity grew at the end of the session by 35%, and the volume recorded an increase of about 44%.

On the end of week session, the Boursa indices continued its positive performance and were able to close in green zone affected by the strong purchasing operations that included a wide ray of listed stocks especially in the Financial Services and the Real Estate sectors.  Such performance came in light of the increased volume of the traded stocks by the end of the session, where it increased by 19%, while the cash liquidity level dropped by 18%.

By the end of the last week, the market capitalization of the listed companies in the primary market reached KD 25.72 billion, up by 1.23% when compared to its level in a week earlier, as it reached then KD 25.41 billion.

Sectors’ Indices

Nine of KSE’s sectors ended last week in the green zone, while the other three recorded declines. Last week’s highest gainer was the Financial Services sector, achieving 3.42% growth rate as its index closed at 617.47 points. Whereas, in the second place, the Real Estate sector’s index closed at 895.24 points recording 2.88% increase. The Oil & Gas sector came in third as its index achieved 1.61% growth, ending the week at 793.21 points.

On the other hand, the Telecommunications sector headed the losers list as its index declined by 1.56% to end the week’s activity at 626.25 points. The Health Care sector was second on the losers’ list, which index declined by 0.50%, closing at 1,238.28 points, followed by the Consumer Services sector, as its index closed at 922.14 points at a loss of 0.26%.

Sectors’ Activity

The Financial Services sector dominated a total trade volume of around 376.92 million shares changing hands during last week, representing 42.56% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 26.99% of last week’s total trading volume, with a total of around 239.01 million shares.

On the other hand, the Financial Services sector’s stocks were the highest traded in terms of value; with a turnover of around KD 22.54 million or 27.93% of last week’s total market trading value. The Banks sector took the second place as the sector’s last week turnover was approx KD 17.15 million representing 21.24% of the total market trading value.

For further details, please visit our web site: www.bayaninvest.com

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