KSE indices show mixed performance
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The KSE Indices witnessed a mixed week as the KSE price index closed with 5,471.88 a marginal decrease of 0.51% down 27.84 points compared to the previous week. As the MUDX witnessed an increase this week of 0.32% to close at 527.68 for the week. While the market blue-chip index the KSX15 closed at 816.21 points down 0.17% during the week. Gulf stock markets edge up on Thursday in response to strong oil prices and global equities, but a lack of positive local news and technical barriers may prevent major gains.
The reported weekly volumes were 338.44 million shares compared to 374.15 million shares in previous. Among the major contributors, the Financial Services Sector (contributing 45.75%) witnessed 154.83 million shares of trading compared to 169.64million shares in the previous week, while Real Estate Sector (contributing 18.31%) witnessed 61.97 million shares of trading compared to 58.59 million shares in the previous week.
The overall Market Cap witnessed a decrease this week as it stood at KWD 24.16 billion down 0.16% on weekly basis. As for the blue chips, National Bank of Kuwait – NBK (Mcap – KWD 3.32 billion) saw its market cap a decrease 1.67% during the week. While Mobile Telecommunication Co. – Zain ( Mcap – KWD 1.44 billion) saw its market cap increase 1.52%. Moreover; Ahli United Bank – AUB (Mcap – KWD 1.32 billion) saw it market cap decrease 1.02% during the week.
On the total market breadth, Of the 56 Islamic Companies, 18 advanced while 18 declined during the week. The Islamic universe market cap witnessed its market cap increase 0.39% to close at KWD 6.20 billion. The universe heavyweights like Kuwait Finance House – KFH (Mcap – KWD 2.35 billion) saw its market cap increase 2.17% during the week. While Boubyan Bank (Mcap – KWD 834.07 million) a saw its market cap decrease 2.53%. Kuwait Telecommunication Co. – VIVA (Mcap- KWD 464.44 million) saw its market cap remain unchanged during the week.
By KFH Capital
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