KSE price index closes 0.02 pct up to 5,390.70 points

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The KSE Indices witnessed a mixed week as the KSE price index closed with 5,390.70 a marginal increase of 0.02% up 1.10 points compared to the previous week. As the MUDX witnessed another decrease this week of 0.95% to close at 499.28 for the week. While the market blue-chip index the KSX15 closed at 797.67 points down 0.98% during the week. Major stock markets in the Gulf rebounded in early trade on Monday, recovering from the immediate aftermath of Britain’s vote to leave the European Union, as local retail investors and some institutions scooped up shares on dips.

The reported weekly volumes were 308.21 million shares compared to 105.28 million shares in previous. Among the major contributors, the Financial Services Sector (contributing 31.19%) witnessed 96.11 million shares of trading compared to 37.08 million shares in the previous week, while Real Estate Sector (contributing 15.85%) witnessed 48.86 million shares of trading compared to 15.89 million shares in the previous week.

The overall Market Cap witnessed a dip this week as it stood at KD 23.95 billion down 0.5% on weekly basis. As for the blue chips, National Bank of Kuwait — NBK (Mcap — KWD 3.21 billion) saw its market cap drop 1.72% during the week. While Mobile Telecommunications Co — Zain ( Mcap — KD 1.44 billion) saw its market cap decrease 1.72%. Moreover; Ahli United Bank — AUB (Mcap — KD 1.31 billion) saw it market cap increase 2.13% after a surge of 19% last week. On the total market breadth, Of the 56 Islamic Companies,4 advanced while 21 declined during the week. The Islamic universe market cap witnessed a decrease of 1.12% in its market cap to close at KD 6.06 billion.

The universe heavyweights like Kuwait Finance House — KFH (Mcap — KD 2.25 billion) saw its market cap decease 2.17% during the week. While Boubyan Bank (Mcap — KD 812.40 million) a saw its market cap drop 1.32%. ALAFCO Aviation Lease and Finance Co (Mcap- KD 198.03 million) was down as well 1.89% during the wee

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