KSE market indices steady throughout week –

This news has been read 5811 times!

The KSE price index closed at 5,788.74 down 5.90 points as all the indices closed in negative. The KSX-15 closed at 939.12 down 4.44 points; while the Islamic Index MUDX fell by 0.14 percent to close at 577.63 during the week. The market sentiments have been negative as we witness Brent oil sinking more than 4 percent to below $43 a barrel overnight with the current price being $43.49, which is near its six-year low. Also, investors have been watchful given the recent political developments in the region.

The weekly volumes stood at 543.83 million shares compared to 656.17 million shares in previous week a decline of 17.12 percent. Among the major contributors Financial Services Sector (contributing 40.79 percent) was among the few which reported growth in volumes; the sector saw 221.82 million shares of trading compared to 211.56 million shares in the previous week, while Real Estate Sector (contributing 24.32 percent) witnessed 132.25 million shares of trading compared to 170.52 million shares in the previous week.

The overall Market Cap was down by 0.1 percent as it stood at KD 26.95 billion. National Bank of Kuwait – NBK (Mcap – KD 4.18 billion) remained steady, while Mobile Telecommunication Co – Zain (Mcap – KD 1.59 billion) also remained unchanged during the week.

On the total market breadth, of the 57 Islamic companies, 9 advanced while 27 declined during the week.

The Islamic universe market cap was down by 0.16 percent to close at KD 7.08 billion, as most of the universe heavyweights remained unchanged during the week while the small caps witnessed exceptional decline, of which contributors remained unchanged. Among the universe heavyweights Kuwait Finance House – KFH (Mcap – KD 2.76 billion) saw its market cap remain steady.

While ALAFCO Aviation Lease and Finance Co (Mcap – KD 207.55 million) sector saw surge in volumes reporting 1.01 million shares of trading up by 176.5 percent during the week. The company announced that it will be paying out dividends of KD 0.005 per share and the company also announced a capital increment to increase its shares to 952.05 million shares.

This news has been read 5811 times!