Tuesday , December 12 2017

All indices end in green zone – Average daily turnover up by 43.90 pct

Boursa Kuwait ended last week in the green zone. The Price Index closed at 5,748.09 points, up by 1.27% from the week before closing, the Weighted Index increased by 0.94% after closing at 380.09 points, whereas the KSX-15 Index closed at 885.02 points up by 0.29%. Furthermore, the week’s average daily turnover increased by 43.90%, compared to the preceding week, reaching KD 17.87 million, whereas trading volume average was 188.29 million shares, recording an increase of 26.92%.

The Boursa indices were able to increase in the last few weeks of 2016 supported by the continued heavy purchasing operations witnessed by many stocks during this period and headed by the leading and operational stocks, in addition to the quick speculative operations that concentrated on the small-cap stocks.  The Boursa witnessed such performance in light of the investment groups activity that were witnessing purchasing and collection operations in order to increase its prices prior to the end of the fourth quarter of 2016, which pushed the three market indices to end the last weeks of the year in the green zone.

Furthermore, the three market indices initiated the week’s sessions with different increases, especially the Weighted and KSX-15 indices that benefited from the continued purchasing power on the leading and operational stocks, meanwhile the small-cap stocks witnessed speculative operations that pushed it to record mixed gains, which positively reflected on the Price Index that was able to cross the 5,700 point level up.  On the second session of the week, the three market indices witnessed mixed closings, where the Price Index continued in enhancing its position above the 5,700 point level, through the gains it realized supported by the continued purchasing operations executed on the small-cap stocks and a number of the leading stocks, while the Weighted and KSX-15 indices could not continue its upward move to end the session in the red zone affected by the profit collection operations that concentrated on some heavy stocks of previous increases.

On the mid-week session, the Boursa indices were able to return to meet in the green zone, in light of the purchasing operations’ presence on both the leading and small-cap stocks, amid an increased pumped liquidity levels to reach around KD 20 million, up by almost 17%.  On Wednesday’s session, the Boursa indices returned to fluctuate once again, where the Price Index continued its increase as a result to the heavy purchasing and the quick speculative operations executed on the small-cap stocks, while the profit collection operations that included some leading and operational heavy stocks pushed the Weighted and KSX-15 indices to end the session in the red zone.

The Boursa indices ended the last session of the week with mixed closings, where the Price and KSX-15 indices declined under the influence of the profit collection operations executed on the leading stocks and some small-cap stocks, while the Weighted Index went against the current and was able to increase by the end of the session.

By the end of the last week, the market capitalization for the listed companies in the primary market reached KD 25.41 billion, up by 0.95% compared to its level in the previous week, where it reached then KD 25.17 billion.  On an annual level, the market cap for the listed companies in the primary market grew by 0.56% from its value at end of 2015, where it reached then KD 25.27 billion.

As far as Boursa Kuwait annual performance, the price index ended last week recording 2.37% annual gain compared to its closing in 2015, while the weighted index decreased by 0.42%, and the KSX-15 recorded 1.71% loss.

Sectors’ Indices

Eight of KSE’s sectors ended last week in the green zone, while the other four recorded declines. Last week’s highest gainer was the Insurance sector, achieving 4.47% growth rate as its index closed at 994.29 points. Whereas, in the second place, the Industrial sector’s index closed at 1,344.03 points recording 3.46% increase. The Technology sector came in third as its index achieved 2.34% growth, ending the week at 607.15 points.

On the other hand, the Consumer Goods sector headed the losers list as its index declined by 1.20% to end the week’s activity at 1,125.06 points. The Health Care sector was second on the losers’ list, which index declined by 0.78%, closing at 1,244.44 points, followed by the Oil & Gas sector, as its index closed at 780.66 points at a loss of 0.68%.

Sectors’ Activity

The Financial Services sector dominated a total trade volume of around 384.07 million shares changing hands during last week, representing 40.80% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 27.63% of last week’s total trading volume, with a total of around 260.11 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 23.89 million or 26.70% 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 19.83 million representing 22.19% of the total market trading value.

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