Saturday , December 16 2017

KSE index ends 3.15 pts higher in volatile trade – Banks close in negative territory

Trading in progress at the Kuwait Stock Exchange. The bourse edged higher on Sunday.
Trading in progress at the Kuwait Stock Exchange. The bourse edged higher on Sunday.

KUWAIT CITY, Dec 6: Kuwait stocks continued to edge higher on Sunday after experiencing mixed results in last week’s trading. The bourse rose 3.15 pts in volatile trading to 5,791.89 pts even as the board remained mixed. The daily value of traded stocks stood at KD 10,809, 471.

The banks were largely in negative territory while the weighted index dipped 1.31 points to 392.8. The KX15 index also ebbed 5.92 points to 933.2. The number of trades stood at 2,711 yielding KD 10,809,470.887 from 117, 032, 866 shares traded. The bank sector finished the day relatively muted with five out of twelve in the red while the rest wound up in positive or flat. The number of trades in the banks sector stood at 350 resulting in 9,341, 101 stocks yielding a daily value of KD 3,355,566.

NBK saw a price dip of 10 fils to 820 fils after 33 trades which yielded KD 654, 063. Other banks that finished the day in the red included ABK, KIB, KFIN and Warba Bank.  But GBK, AUB and ITHMR recorded gains after the day’s trading. CBK, AlMutahed, Burgan and Boubyan Banks all ended flat.

Dipped

The oil & gas sector dipped 1.53 points to close at 784.7 while the Basic Materials sector ended flat at 1,014.59. The Industrial Sector edged 2.06 points to 1,076.41 shares while the Consumer Goods sector also ended in positive territory at 1.47 points to 1,109.2 with the Health Care sector slipping 8.31 points to close at 947.82. the Consumer Services Sector saw a 5.89 points positive change to close 1,057.48 while the Telecommunication sector ended in red at 1.46 points to close at 628.77 while the Banking sector saw a 1.51 points in red to close at 929.14.

The Insurance sector also saw ended in red at 0.12 points to close at 1,094.11 while the Real Estate sector also slid 1.25 points to 970.18. the Financial Services Sector nudged up 0.53 points to close at 629.43. the Parallel Market sector ended with a big 3.19 points to close at 1,234.43.

Among the top gainers of the day are KCPC, ABAR, OSOUL, QURAINHLD and WETHAQ. KCPC stocks ended 10.42 points higher at 212 fils after trading 500 shares, followed closely in second place by ABAR whose shares ended 9.43 points higher to 116 fils shares after trading 250 shares.

OSOUL ended the day 7.14 points higher to 37.50 fils after trading 33,796 shares followed by Qurain Holding which also finished the day 7.14 points higher after trading KD 7.5 from a daily volume of 468,650 shares. Wethaq also recorded a marginal gain of 6.33 points after trading 42 points on 2,334 shares.

Among the top losers of the day were Massaleh whose shares dipped 8.33 points to 55 fils after trading 20, 010 shares.  FTI also had their shares ebbing 7.69 points to 60 fils on 1,000 shares trading while RKWC 6.78 points in the red to 110 fils after trading 103,410 shares. Yiaco’s shares ended 5.13 points in the red to 148 fils after trading 10,105 shares, followed by Sanam whose shares slid 4.3 points to 44.50 fils after trading 5,999 shares.

Meanwhile,  Al Dar National Real Estate were among the top volume stock traders after their stocks edged 0.5 points higher to 30.5 after trading 28,944,882 shares while GFH Financial Group’s trading showed a 2 points increase to 38 after trading 21,940,072 shares. The Investors Holding Group’s trading ended flat at 29 after trading 6,557,911 shares.

On the other hand, the Gulf Petroleum Investment company recorded a share slide of 2 points to 57 after trading 6,273,272 shares while The Securities House Company’s share ebbed 0.5 points to 45.5 after trading 4,590,826 shares.

Robust

Among the top traded stocks were ADNC, GFH, GPI, Viva and Warba Bank. ADNC and GFH saw robust trading on the day with ADNC’s share price changing 0.5 points to 30.5 after trading 377 shares while GFH saw it’s shares inch up 2 points to 38 after trading 186 shares. VIVA’s shares ended flat to 1,080 after trading 107 shares. Even though GPI and Warba Bank both recorded negative changes in stocks traded, they still are among the top five traded stocks with GPI recording 152 shares traded from 57 which was a 2 points fall and Warba Bank 96 trades from 204 which was also a 2 points fall.

The top value stocks of the day included Kuwait Finance House, Zain, ADNC, GFH and Kuwait Projects Company. KFIN saw a 10 point dip in its stocks to 570 after trading KD 1,577,443 in shares with Zain’s shares retreating 5 points to 365 after trading KD 1,204,107 in shares. ADNC and GFH both recorded positive increases in their share values with ADNC ending 0.5 points higher to KD 30.5 after KD 900,789 in traded shares. But Kuwait Projects’ ended flat to 580 after KD 682,605 shares traded.

 By Iddris Seidu

Arab Times Staff

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