Monday , October 22 2018

KSE indices positive during the week – Market capitalization up by 0.7 pct to KD 25.13 bn

This has been a positive week for the indices. As KSE price index closed up 0.84%, 5391.81 up 44.86 points compared to the week before continuing to produce positive outcomes. As for the MUDX it turned last week’s loss into an increase of 0.60% to close at 529.72 for the week up 3.17 points. KSE Weighted was also up increasing 2.60 points to close at 366.28 up 0.71% to the previous week .While the market blue-chip index the KSX15 saw the largest gain with a  7.97 points increase to close at 863.33 up 0.93% to make up for last week’s loss.

Brent crude oil witnessed an increase of 0.04% on a weekly basis  to reach S47.2.

The reported weekly volumes were 802.80 million shares compared to 949.33 million shares in previous week a decrease of 15.4% in share trading. Among the major contributors again the Financial Services Sector (contributing 39.69%) witnessed 318.28 million shares of trading compared to 338.24million shares in the previous week down 5.9% on a weekly basis, while Real Estate Sector (contributing 32.05%) witnessed 257.04 million shares of trading compared to 283.00 million shares in the previous week was also down 9.18% on a weekly basis.

The overall Market Cap was up by 0.7% as it stood at KWD 25.13 billion. As for The Blue Chips  National Bank of Kuwait – NBK (Mcap – KWD 3.54 billion)  saw its market cap increase for the week with to 1.52%. Moreover; Kuwait Food Co  –Americana  (Mcap – KWD 972.84 million)  saw its market cap move down by a significant 5.47% this was largely due to a news break out that Citigroup has dropped out of the group of banks providing USD 1.5 billion to buy majority shares of Americana. While Kuwait Projects Co- KIPCO ( Mcap – KWD 810.46 million) saw its market cap stable and unchanged . However, Commercial Bank of Kuwait- CBK (Mcap – KWD 666.01 million) saw its market cap increase 3.49% on a weekly basis for a continued second week.

Another generous gainer this week was again Human Soft Holding Co – HUMANSOFT (Mcap – KWD 113.68 million) saw an increase of 27.49% following last week’s increase of 30%.

On the total market breadth, Of the 56 Islamic Companies, 21 advanced while 21 declined during the week.

The Islamic universe market cap witnessed a an increase of 0.70% in its market cap to close at KWD 6.50 billion. The universe heavyweights like Kuwait Finance House – KFH (Mcap – KWD 2.51 billion)  saw an increase of 2.08% in its market cap. While  Boubyan Bank (Mcap – KWD 899.06 million) also saw an increase of 2.47% in its market cap. Ahli United Bank – AUB ( Mcap – KWD 727.59 million) saw a decrease of 2.33% in its market cap to be the only loser in the large cap Islamic Companies. Kuwait Telecommunications Co. (Mcap- KWD 509.39 million) was stable for the week.

By KFH Capital

 

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