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Sunday , September 20 2020

Bourse ends week trading on mixed board

Kuwait Stock Exchange (KSE) ended last week with mixed performance. The Price Index closed at 5,346.95 points, up by 0.88% from the week before closing, the Weighted Index decreased by 0.38% after closing at 363.68 points, whereas the KSX-15 Index closed at 855.36 points down by 0.90%. Furthermore, last week’s average daily turnover decreased by 18.69%, compared to the preceding week, reaching KD 13.35 million, whereas trading volume average was 189.87 million shares, recording an decrease of 23.53%.

Kuwait Stock Exchange ended last week’s activity with mixed closings for the three indicators, whereas the Price Index was able to realize gains for the third consecutive week, supported by the gains realized by some small-cap stocks, in addition to the random purchasing operations that targeted a number of stocks that are expected to disclose positive results for the first quarter of the current year, while the Weighted and KSX-15 indices closed in the red zone by the end of the week, affected by the decline of many leading and heavy stocks, after witnessed some selling for profit operations.  The market witnessed such performance in light of the continued state of watch that is overwhelming the traders, waiting for the listed companies to disclose its financial results for the first quarter of the current year.

As per the daily trading activity during the last week, the three stock indicators initiated its first session of the week recording grouped increase, supported by the purchasing power that included many leading and small-cap stocks, while the trading indicators witnessed noticeable decrease, especially in the value which recorded a daily drop of more than 30%.  The three market indicators recorded noticeable declines in the next session, which witnessed a strong selling for profit trend, among a continued drop in the trading value for the second consecutive session during the week.

On Tuesday’s and Wednesday’s sessions, the market was able to realize some gains and its indicators were able to compensate a part of its previous losses, especially the Price Index which was able to benefit from the active trading that concentrated on the small-cap stocks, among an increased trading levels during both sessions, especially the liquidity.  On Thursday, the market indicators returned to its mixed performance, whereas the Price Index continued its upward direction for the third consecutive session, enhancing its weekly gains, whilst the Weighted and KSX-15 indices returned to the losses area once again, to end the weekly trades in the red zone.

Moreover, the market capitalization reached by the end of last week KD 23.59 billion, down by 0.40% compared with its level in a week earlier, where it was KD 23.69 billion; however on the annual level, the market cap for the listed companies in KSE declined by 6.63% from its value at end of 2015, where it reached then KD 25.27 billion.

As far as KSE annual performance, the price index ended last week recording 4.78% annual loss compared to its closing in 2015, while the weighted index decreased by 4.72%, and the KSX-15 recorded 5.01% loss.

Sectors’ Indices

Seven of KSE’s sectors ended last week in the green zone, while the other five recorded declines. Last week’s highest gainer was the Health Care sector, achieving 3.86% growth rate as its index closed at 994 points. Whereas, in the second place, the Industrial sector’s index closed at 993.14 points or 2.83% increase. The Basic Materials sector came in third as its index achieved 1.59% growth, ending the week at 983.65 points. The least growing sector was the Financial Services sector, as its index closed at 591.78 points increasing by 0.22%.

On the other hand, the Oil & Gas sector headed the losers list as its index declined by 1.64% to end the week’s activity at 749.84 points. The Consumer Services sector was second on the losers’ list, which index declined by 0.30%, closing at 920.36 points, the least declining sector was the Banks sector, as its index closed at 832.77 points at a loss of 0.19%.

Sectors’ Activity

The Financial Services sector dominated a total trade volume of around 338.25 million shares changing hands during last week, representing 35.63% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 29.81% of last week’s total trading volume, with a total of around 283.01 million shares.

On the other hand, the Banks sector’s stocks were the highest traded in terms of value; with a turnover of around KD 20.37 million or 30.51% 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 KD 17.77 million representing 26.61% of the total market trading value.

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