KSE index ends month with modest upswing – Humansoft Holding soars 60 fils; Zain flat

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KUWAIT CITY, Oct 31: Kuwait stocks headed north on Monday recouping the losses in previous session. The price index climbed 10.25 pts in volatile trading to 5,401.07 pts even as the board remained mixed. The banks and other heavyweights were mostly muted even as investors kept a wary eye on oil prices which slipped below the $50 mark in last session.

The KSX 15 gauge inched 0.36 points higher to 826.51 pts taking the month’s overall gain to 12 pts while weighted index was up 0.28 pts. The volume turnover meanwhile rebounded past the 100 million mark after sharp drop in the last session. 114 million shares changed hands — a 87 pct surge from the day before.

In the individual shares, National Bank of Kuwait was unchanged at KD 0.600 off early lows with a volume of over 1 million and investment conglomerate KIPCO gave up 5 fils to settle at 495 fils. Mabanee Co shed 10 fils extending an identical loss in the day before.

Zain was flat at 390 fils after brisk trading of 11.3 million shares and Wataniya Telecom (Ooredoo) too did not budge from its earlier close of KD 1.080. Kuwait Telecommunications Co (VIVA) rose 10 fils to KD 0.860 and Agility paused at 475 fils.

Kuwait Finance House stood pat at KD 0.475 with a volume of 4.6 million and Boubyan Bank followed suit. The bank has recorded a net profit of KD 29.62 million and earnings per share of 13.68 fils in the nine-month period ending Sept 30, 2016.

The market opened firm and swung higher in early trade. The price index retreated sharply to plumb the day’s lowest level of 5,389.61 pts before heading north again amid spurt in buying in select counters. It peaked at 5,405.36 pts almost half way into the session and pulled back again before closing with modest gains.

Top gainer of the day, MENA climbed 5.56 pct to 19 fils and Housing Finance Co (ISKAN) rallied 5.43 percent to stand next. BIIHC slid 10.6 pct, the steepest decliner of the day and Sokouk Holding topped the volume with 12.6 million shares.

Sokouk Holding has incurred a net loss of KD 2.26 million and loss per share of 3.96 fils in the first nine months of 2016 down from net profit of KD 15,544 and earnings per share of 0.03 fil in the same period last year.

National Industries Group, the flagship company of the Kharafi Group, took in 2 fils whereas Gulf Cable was unchanged at 385 fils. Kuwait Foundry Co stalled at 166 fils and Kuwait Portland Cement Co followed suit to wind up at 910 fils. Boubyan Petrochemical Company Co dipped `15 fils.

Kuwait Food Co (Americana) was unchanged at KD 2.620 off early lows and Qurain Petrochemical Industries Co followed suit. The company has registered a net profit of KD 10.48 million and earnings per share of 10.08 fils in the January-September period as compared to net profit of KD 6.61 million and earnings per share of 6.31 fils in 2015, 9M.

Jazeera Airways stagnated at 850 fils and ALAFCO dialed up 2 fils to close at 850 fils. Kuwait and Gulf Link Transport Co stalled at 47 fils whereas KGL Logistics was up 4 fils at 799 fils.

Added

Humansoft Holding Co vaulted 60 fils and RISCO added 5 fils. The company has posted a net profit of KD 4.64 million and earnings per share of 47.37 fils in the nine-month period ending Sept 30, 2016 as against a net profit of KD 3.22 million and earnings per share of 32.39 fils in the same period of 2015.

Mezzan Holding gained 20 fils with razor thin trading and Zimah Holding inched 1 fil into green on back of 5.5 million shares. Al Safat Energy Holding Co and AWJ Holding took in 1 fil each while Equipment Holding Co edged 0.5 fil higher.

In the banking sector Gulf Bank was unchanged at 234 fils while Ahli United Bank rose 10 fils to 390 fils. Commercial Bank of Kuwait and Al Ahli Bank were not traded during the session.

Burgan Bank paused at 320 fils and Kuwait International Bank took in 2 fils. Warba Bank too was up 2 fils extending the gains in the last session.

Kuwait Investment Co inched 1 fil into red with thin trading volume while International Financial Advisors and National Investment Co stood pat at 29.5 fils and 110 fils respectively. Securities House Co ticked 0.5 fil down and Coast Investment Co followed suit.

Al Aman Finance Co gave up 2 fils to settle at KD 45.5 fils and Kuwait Financial Centre ( Markaz) was down by same measure. Alola was unchanged at 44 fils whereas Al Mal Investment Co and Aayan Investment Co were up 0.5 fil each.

National Investment House took in 2 fils while Bayan Investment Co edged 1 fil into red after trading over 1 million shares. Al Deera Holding and Al Salam were flat at 33.5 fils and 41 fils respectively and Sokouk Holding nudged 1.5 fils.

Ektittab Holding added 0.5 fil and Tamdeen Investment Co stood pat at 300 fils. Warba Insurance Co dialed up 2 fils and FTI was up 2.5 fils to settle at 49.5 fils. Wethaq Takaful eased 2.5 fils to 27 fils.

United Real Estate Co and National Real Estate Co added 2 fils each and Aayan Real Estate Co clipped 2 fils. Mazaya Holding was down 2 fils at 114 fils.

The market has been mixed so far during the week and has added 4 pts in last two sessions. The price index is up 3 points during the whole month but has shed 3.89 pct year-to-date. KSE, with 198 listed companies, is the second largest bourse in the region.

In the bourse related news, Aqar Real Estate Investments Co. has registered a net profit of KD 923,223 and earnings per share of 4.34 fils in the January-September period down from net profit of KD 1.72 million and EPS of 7.63 fils in the 9M of 2015.

Jeeran Holding Co. has logged a net profit of KD 431,750 and earnings per share of 3.17 fils in the first nine-month of 2016 up sharply from net profit of KD 177,518 and earnings per share of 1.30 fils in the 9M of 2015.

Kuwait Building Materials Mfg. has registered a net profit of KD 159,204 and earnings per share of 5.3 fils in the January-September period as against net profit of KD 363,059 and earnings per share of 12 fils in the same period last year.

Ajwan Gulf Real Estate Co. has incurred a net loss of KD 71,423 and loss per share of 0.97 fils in the first nine months of 2016 as compared to net profit of KD 44,278 and earnings per share of 0.60 fil in the 2015, 9M.

By John Mathews –  Arab Times Staff

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