KSE extends losses as index falls 30.9 pts to 5,602.38 pts – Shares for KD 16 mln traded; most sectors end in red

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KUWAIT CITY, Dec 14: Kuwait Stocks plunged 30.9 points or 0.55% to stand at 5,602.38 points, further extending losses with most sectors logging red indices. The weighted index staggered 3.62 points lower to 381.27 at the session’s close. The KSE 15 benchmark slid 13.54 points into the red to stand at 902.71 points. A total of 2,864 transactions were carried out in the session that involved a 104 million shares being traded for KD 16 million. Of the 133 counters open today, only 29 advanced while 66 declined and 38 closed flat.

Amar Finance & Leasing Co led the pack of gainers by advancing 8.16% ahead to close at 53 fils while trading a volume of 140,200 shares. Kuwait Packing Materials Manufacturing Co marked a 6.85% increase to 390 fils in low trade followed by Heavy Engineering and Shipbuilding Company with its 6.33% jump to 168 fils on trading 34.695 shares and Burgan company for well drilling, trading & Maintenance  with a 5.71% rise to 148 fils. Real Estate Trade Centers Co closed at 23 fils with a 4.55% increase from its previous trading session.

Viva, on the other hand, took a hard 9.09% fall in share price, closing at KD 1.000. Al-Deera Holding Co also suffered a 7.14% drop down to 32.5 fils. Manazel Holding was counted among the session’s top losers with a 6.98% downturn to 20 fils while Al-Madina For Finance And Investment Co shed 6.94% of its share price to close at 33.5 fils. The Securities House reported a 6.17% contraction to 38 fils.

Al-Madina For Finance And Investment Co traded the highest volume of over  10.63 million shares in the market today while Al Dar National Real Estate Co saw robust activity of 9.95 million shares exchanged. Investors Holding Group Company traded 8.69 million shares while Viva traded 6.02 million of its stock. The Securities House followed with a 5.6 million shares exchanged.

Telecommunications closed at 595.6 points, logging a 5.28 % fall making up 41.14% of the total value of the bourse. None of the counters advances, Mobile Telecommunications Co (Zain) closed flat at 355 fils and traded a volume of 1.34 million while Hits Telecom remained inert in price,  trading 2.63 million shares for a 27.5 fils close. Ooredoo closed at a stale KD 1.040 in low trade while Viva took a hard 100 point plunge down to KD 1, trading 6 million shares in the process.

Value

The Banking Sector stood at 901.1 points, with a 8.14 point drop in its index, making up 8.67% of the total volume and 17.35% of the total value on the floor. National Bank of Kuwait held ground at 810 fils while Gulf Bank closed 5 points lowers at 270 fils, trading 1.6 million shares. Kuwait Finance House took a 20 point nose dive to 530 fils trading 2.28 million shares on the floor. Commercial Bank of Kuwait stood stale at 500 fils while  Kuwait International Bank also inched 2 points lower 220 fils. Burgan Bank closed at a fat 380 fils while Boubyan Bank skimmed 5 points lower to a 435 fils share price.

At the same time, Ithmaar Bank eased 1 point down to 42.5 fils while Warba Bank shifted 2 points lower to 196 fils. Only Alhi United Bank advanced in the sector, moving 10 points higher to a 530 fils close.

Financial Services closed 1.56% lower at 594.2 points making up 32.19% of the volume turnover and 9.7% of the total value. Al-Madina For Finance And Investment Co skid 2 points below the line to finish at 33.5 whilst trading 10.63 million shares, The Securities House also took a 2.5 points cut to finish at 38 fils, exchanging 5.6 million shares. GFH Financial Group and Kuwait Projects Company stood firm at 33 fils and 580 fils respectively while National Industries Group made a 4 point turn to the red, closing at 124 fils. Kuwait Financial Centre closed a 106 fils iwth a 2 point upswing while Tamdeen Investment Co made a 5 point retreat to 420 fils.

Real Estate swelled in volume from the previous day making up 31.75% of the total market with a 31.30% rise in value. The index stood at 930.4 points. Al Dar National Real Estate Co made a 0.5 point increment, closing at 28 fils, trading 9.95 million shares on the floor. Investors Holding Group Co, meanwhile, slipped 0.5 points under to 24 fils while National Real Estate Co crept 4 points lower to 85 fils. Al Mazaya Holding Co dipped 2 points lower to 104 fils while Sokouk Holding Co closed at 39 fils with a 2.5 point cut. The Commercial Real Estate Co, on the other hand, clambered 1 point upwards for a 80 fils finish.

Kuwait Real Estate Co ebbed 1 point lower to 57 fils.

Oil and gas marked a 0.40% increase to 791.7 points. Gulf Petroleum Investment took a further 2 point downturn to 52 fils while Al-Safat Energy Holding closed flat at 13.5 fils. Ikarus Petroleum Industries Co stood stale at 91 fils while Burgan Company For Well Drilling, Trading & Maintenance made a 6 point hike to 116 fils. National Petroleum Services Company took an added 10 point hike for a 620 fils share price.

The Industrials sector closed at 1,056.1, up by 0.27%. Agility Public Warehousing Company skimmed 10 points lower to 490 fils while Mushrif Trading & Contracting Co, Aviation Lease And Finance Co, and Ras Al Khaimah Co. For White Cement & Construction, logged a 2 point slash to 66 fils, 210 fils and 100 fils respectively. National Ranges Company meanwhile trudged 0.5 points higher to 20.5 fils.

In Consumer goods, Mezzan Holding Co stood its ground at KD 1.140 while Danah Al Safat Foodstuff Company slipped 2 points lower to 82 fils. Livestock Transport & Trading Co closed flat at 132 fils while Kuwait Food Company (Americana) made a significant 100 point descent to KD 2.080. In Consumer Services, Kuwait National Cinema Co and Jazeera Airways took a 10 point turn to the red, closing at 950 fils and 900 fils respectively. Zima Holding Co trailed 2 points higher to 118 fils.

In Basic Materials, Qurain Petrochemical Industries Company stood inert at 188 fils while Boubyan Petrochemical Company took a 15 point upturn to 510 fils. In the insurance sector, Warba Insurance Co dipped 2 points lower to 104 fils.

By Cinatra Fernandes – Arab Times Staff

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