KUWAIT CITY, March 29: Kuwait stocks saw modest advance on Tuesday extending the gains in the last session. The main index climbed 13.55 pts to 5265.81 points helped by speculative buying select counters even as sentiment remained mixed in absence of strong cues.

The KSX 15 benchmark slipped 1.12 points to 836.85 pts shrinking the month’s gains to 9 pts while weighted index inched 0.96 points higher. The volume turnover meanwhile soared past the 200 million mark to hit the month’s highest level. Over 269 million shares changed hands — a 47.4 pct surge from the day before.

The sectors closed mostly in the green turf. Banks outshone the rest with 0.63 pct gain whereas oil and gas shed 0.83 percent, the worst performer of the day. In terms of volume, real estate garnered the highest market share of 48.8 pct while industrials and financials trailed with 25.5 pct and 14.7 percent contributions respectively.

In the individual shares, National Bank of Kuwait was unchanged at KD 0.690 off early highs with a volume of 3.3 million and Kuwait Finance House too did budge from its earlier close of KD 0.510. Kuwait Food Co (Americana) shed 20 fils.

Zain eased 5 fils to KD 0.340 after trading 1.7 million shares and Wataniya Telecom ( Ooredoo) jumped 60 fils to KD 1.080 trimming the month’s losses to 60 fils. Kuwait Telecommunications Co ( VIVA) stood pat at KD 0.990 off early highs and Agility gave up 5 fils with a volume of 2.8 million.

KIPCO pared back early gains to stagnate at KD 0.530 and KMEFIC inched 0.5 fils higher. The company has logged a net loss of KD 2.421 million and losses per share of 9.30 fils in the year 2015 widening from net loss of KD 1.09 million and losses per share of 4.20 fils in 2014.

The market opened flat and moved sideways in early trade. The price index slipped into red almost half way into the session and toughed at 5,238.81 pts as selling kicked in at select counters. However it clawed back in the final minutes to close with modest gains.

Top gainer of the day, Taiba Kuwait Holding Co vaulted 13.33 pct to 85 fils and KGL Logistics climbed 7.69 pct to stand next. Marakez dived 9.26 pct, the steepest decliner of the day and Investors Holding Group topped the volume with over 97 million shares.

Mirroring the day’s uptick, the winners outled the losers. 51 stocks advanced whereas 35 closed lower. Of the 133 counters active on Tuesday, 47 closed flat. 4088 deals worth over KD 14 million were transacted — a 32.4 pct drop in value from the day before .

National Industries Group took in 2 fils and Gulf Cable and Electrical Ind Co stood pat at 310 fils after vacillating in tight range. The company has posted a net loss of KD 31,57 million and losses per share of 150 fils in 2015.

Jazeera Airways paused at KD 0.900 off early lows and ALAFCO dialed up 2 fils to settle at 218 fils. NICBM clipped 2 fils and Qurain Petrochemical was down by same measure. Ikarus Petrochemical Industries Co gave up 4 fils to close at 80 fils.

Paused

RISCO was unchanged at KD 0.320 and Equipment Holding Co followed suit to wind up at 52 fils. Kuwait Portland Cement paused at KD 1.020 and Kuwait Cement Co was up 5 fils at KD 0.385. Boubyan Petrochemical Co gained 10 fils.

City Group Co climbed 15 fils and ACICO Industries Co rose 5 fils to KD 0.285. Kuwait and Gulf Link Transport Co added 2.5 fils to close at 48 fils and United Projects Group jumped 40 fils to KD 0.730.

Kuwait National Cinema Co was flat at KD 1.020 and Mezzan Holding too held steady at KD 1.100. Zima Holding Co eased 2 fils and Egypt Kuwait Holding Co climbed 10 fils to 148 fils.

Al Nawadi Holding Co stagnated at 75 fils and Humansoft Holding Co shed 10 fils. The company has clocked a net profit of KD 17.51 million and earnings per share of 144 fils in 2015 soaring from net profit of KD 8.26 million and earnings per share of 68 fils in the previous year. Board of Directors has recommended 25 percent cash dividends.

In the banking sector, Gulf Bank stood pat at 212 fils and Al Ahli Bank followed suit. Ahli United Bank rose 5 fils to KD 0.435 and Kuwait International Bank dialed up 2 fils. Commercial Bank was not traded during the session.

Burgan Bank climbed 5 fils to KD 0.340 paring the month’s losses to 15 fils whereas Boubyan Bank was unchanged at KD 0.415. Warba Bank took in 2 fils to end at 176 fils.

National Investment Co and Securities House Co stood pat at 90 fils and 41 fils respectively whereas Securities Group Co slipped 4 fils. KFIC edge 1.5 fils higher and Al Deera Holding added 2.5 fils. Bayan Investment Co held the ground firm at 32 fils while Al Ahleia Insurance Co gained 10 fils.

National Real Estate Co and Kuwait Real Estate Co rose 2 fils each whereas Mabanee Co stood pat at KD 0.870. Al Mazaya Holding Co fell 4 fils to 106 fils after trading over 1 million shares.

The market has been mixed so far during the week and is up 2 points in last three sessions. It has climbed 58 points from start of the month but has retreated 6.22 pct year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region.

In the bourse related news, Tamdeen Investment Co has posted a net profit of KD 11.52 million and earnings per share of 39.07 fils in the year ending Dec 31, 2015, up from net profit of KD 9.05 million and earnings per share of 30.41 fils in the year before.

KAMCO Investment Company has logged a net profit KD 523,688 and earnings per share of 2.20 fils in the year 2015 as against net profit of KD 1.96 million and earnings per share of 8.23 fils during the year before Abyaar Real Estate Development Co has recorded a net loss of KD 21,700 and loss per share of 0.02 fils in 2015 after posting net profit of KD 755,088 and earnings per share of 0.69 fils in the year before.

Credit Rating and Collection Co has incurred a net loss of KD 454,911 and losses per share of 2.76 fils in 2015 as against net loss of KD 2.26 million and losses per share of 13.73 fils in the year before.

Injazzat Real Estate Development Company has clocked a net profit KD 3.07 million and earnings per share of 9.2 fils in 2015, rising sharply from net profit of KD 1.51 mln and earnings per share of 4.5 fils in the same period last year. The BOD has recommended 5 pct cash dividends.

By John Mathews - Arab Times Staff