KSE closes 4.7 pts lower to finish at 5,619.98 pts – 89.22 million shares traded

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KUWAIT CITY, Dec 23: Kuwait stocks staggered 4.7 points or 0.08% lower for a 5619.98 points finish. The weighted index stood at 380.98 points, steering 0.57 points to the green. The KSE 15 benchmark closed at 902.52 points with a 2.36 point hike.

The total number of trades stood 2.680 wherein 89.22 million shares were traded for a value of KD 8.9 million. 128 counters remained active today with 35 winners, 34 loser and 59 closing with no change.

GFH Financial Group was the top gainer of the day with a 6.94%  growth to 38.4 fils and Gulf Franchising Holding Co followed in close step with a 6.15% boost to 34.5 fils. Kuwait Business Town Real Estate Co rose by 5.95% to 44.5 fils while Al Ahleia Insurance Co and International Resorts Co posted 5.75% and 5.45% increases to 460 fils and 29 fils respectively.

On the other hand, Burgan Company For Well Drilling, Trading & Maintenance, took a 7.58% hard tumble to 122 fils and Umm Al-Qaiwain Cement Industries Co closed at 75 fils with a 6.25% cut in its share price. Yiaco Medical Co fell to 158 fils with a 5.95% contraction and Munshaat Real Estate Projects Co tightened by 5.495 to 86 fils. Hayat Communications Co fell to 44.5 fils with a 5.32% curb.

GFH Financial Group also traded the top volume of the day of 15.88 million shares. Al Mudon Intl. Real Estate Co meanwhile traded a robust 6.59 million shares and Kuwait Business Town Real Estate Co followed in line with a 5.77 million shares exchanged. At the same time, Ithmaar Bank and Sokouk Holding Co traded 4.57 million shares and 4.36 million shares respectively.

Telecommunications stood at 598.02 points marking a 3 .01 points increase. Viva closed at a steady KD 1 as did Mobile Telecommunications Company — Zain at its 345 fils share price. Ooredoo made a 20 point climb to KD 1.060 in low trade while Hits Telecom Holding Co inched 0.5 point shigher to 29 fils and traded 2.29 million shares.

Banks closed at 900 points, up by 1.13 points from the previous session accounting for 11.30% of the total market volume and 36.03% of the total value. National Bank of Kuwait held its ground at 800 fils trading 2.5 million shares for a value of KD 2 million and Kuwait Finance House trekked 10 points higher to 560 fils. Ahli United Bank shed 2 points to close at 206 fils and Ithmaar Bank clambered 0.5 points higher to 42.5 fils. Boubyan Bank and Warba Bank closed flat at 435 fils and 194 fils respectively. Burgan Bank turned 5 points into the green at 380 fils while Gulf Bank stood stale at 260 fils. Concurrently, Commercial Bank of Kuwait and Kuwait International Bank also closed flat at 500 fils and 220 fils respectively.

The real estate index stood at 942.63 fils at the day’s close moving down 3.09 points making up 31.18% of the total market volume and 16.78% of the total value. Munshaat Real Estate Projects Co trailed 5 points lower to 86 fils while Kuwait Business Town Real Estate Co marked a 2.5 points rise to 44.5 fils. Al Mudon Intl. Real Estate Co inched 0.5 points lower to 34 fils and Mabanee Company closed flat at 940 fils. Sokouk Holding Co, in the meantime, took a 2 point stride to the green to close at 47 fils.

Financial Services made a slight turn to the green, closing at 595.23 points. The sector made up 41.63% of the total market volume and 17.31% of the total market value of the session. GFH Financial Group led the sector with its 2.5  point hike to 38.5 fils, trading 15.88 million shares on the floor. Alimtiaz Investment Group remained firm at 77 fils and traded 1.94 million shares. Al-Madina For Finance And Investment Co shifted 1 point higher to 34.5 fils while Manazel Holding skid 1 point lower to 22.5 fils. At the same time,  The Securities House closed flat at 38.5 fils and Privatization Holding Company skimmed 1 point lower to 53 fils.

Oil and gas stood at 808.6 points at the end of the trading session up by 6.57 points. Gulf Petroleum Investment made a 2 point scramble to 54 fils while Al-Safat Energy Holding closed flat at 13 fils. Ikarus Petroleum Industries Co dipped 2 points lower to 90 fils and Burgan Company For Well Drilling, Trading & Maintenance shed 10 points to stand at 122 fils. The Energy House Holding Company mounted 1 point to 41.5 fils while National Petroleum Services Company made a 20 point leap to 650 fils.

The industrials index read 1048.02 points logging a 6.4 point cut. Educational Holding Group stood firm at 210 fils while Kuwait Portland Cement Co suffered a 40 point drop to KD 1.040 and Agility Public Warehousing Company logged no change in its 485 fils share price. Kuwait Cement Company budged 5 points higher to 385 fils and Equipment Holding Co skid 1 point lower to 58 fils.

In consumer goods, Mezzan Holding Co took a 20 point tumble to KD 1.160 while Kuwait Food Company (Americana) made a 20 point jump to KD 1.980.

Danah Al Safat Foodstuff Company rallied 3 points higher to 84 fils and Livestock Transport & Trading Co made a 2 point increase to close at 130 fils while Kuwait United Poultry Co closed at a flat 176 fils.  In Consumer Services, Zima Holding Co closed at 126 fils with a 4 point increment trading 1.96 million shares while Jazeera Airways Co closed flat at 910 fils.

In the technology sector, Hayat Communications Co tracked 2.5 points lower to 44.5 fils. In Basic Materials, Qurain Petrochemical Industries Company moved 2 points up to 188 fils while Boubyan Petrochemical Company endured a 10 point downturn. Kuwait Foundry Co, meanwhile, made a 10 point advance to 230 fils.  In insurance, Al Ahleia Insurance Co rose by 25 points to close at 460 fils while Warba Insurance Company closed 4 points higher at 106 fils.

By Cinatra Fernandes

Arab Times Staff

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