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Kuwait bourse closes trading in red during week – Volume decreases by 23.42% to average 152.14 million shares

Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 5,262.07 points, down by 0.43% from the week before closing, the Weighted Index decreased by 1.13% after closing at 363.39 points, whereas the KSX-15 Index closed at 857.74 points down by 1.60%. Furthermore, last week’s average daily turnover decreased by 5.83%, compared to the preceding week, reaching KD 12.86 million, whereas trading volume average was 152.14 million shares, recording a decrease of 23.42%.

The stock market indicators closed in the red zone last week, as it was subject to the continued strong selling operations executed on most of the traded stocks during the week, of both large-cap and small-cap stocks.

Moreover, the stock market initiated the first session of the week with mixed performance to the three indicators, whereas the Price Index increased, supported by the speculative operations executed on the small-cap stocks, while the Weighted and KSX-15 indices declined as a result to the selling pressures and the profit collection operations executed on the large-cap stocks.  Also, the three market indicators closed in the red zone in the next session, affected by the continued selling operations executed on most of the listed stocks, despite the presence of some random purchasing operations on some stocks, which lightened the losses by the end of the session.

In the mid of week session, the three indicators closed mixed, whereas the Price Index was able to inverse its direction and realize limited gains due to the quick speculative operations that concentrated on the small-cap stocks, while the selling for profit operations that concentrated on the large-cap stocks in the market forced the Weighted and KSX-15 indices to close in the red zone, which added to the both indices losses, in light of a noticeable drop in the trading activity.  The market indicators continued its fluctuation on Wednesday’s session, with changing positions, whereas the Weighted and KSX-15 indices were able to realize some gains, supported by the random purchasing operations witnessed by some leading stocks in the market, whilst the Price Index performance decreased as a result to the selling pressures that included most of the listed stocks in the market, which increased the Price Index’s annual losses to reach 6.86% since the beginning of the year until the end of the same session.

However on the end of week session, the market was able to close in the green zone, whereas the three indicators realized gains for the first time during the same week, supported by the purchasing power that concentrated on the small-cap stocks.

As far as KSE annual performance, the price index ended last week recording 6.29% annual loss compared to its closing in 2015, while the weighted index decreased by 4.80%, and the KSX-15 recorded 4.74% loss.

Sectors’ Indices

Five of KSE’s sectors ended last week in the green zone, while the seven recorded declines. Last week’s highest gainer was the Oil & Gas sector, achieving 4.38% growth rate as its index closed at 777.92 points. Whereas, in the second place, the Insurance sector’s index closed at 1,080.61 points or 3.50% increase. The Technology sector came in third as its index achieved 1.41% growth, ending the week at 892.51 points. The least growing sector was the Financial Services sector, as its index closed at 575.31 points at a loss of 0.04%.

On the other hand, the Consumer Goods sector headed the losers list as its index declined by 3.28% to end the week’s activity at 1,060.61 points. The Health Care sector was second on the losers’ list, which index declined by 2.41%, closing at 961.28 points, the least declining sector was the Real Estate sector, as its index closed at 832.62 points at a loss of 0.49%.

Sectors’ Activity

The Financial Services sector dominated a total trade volume of around 288.87 million shares changing hands during last week, representing 37.97% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 21.21% of last week’s total trading volume, with a total of around 161.37 million shares.

On the other hand, the Banks sector’s stocks were the highest traded in terms of value; with a turnover of around KD 26.46 million or 41.16% of last week’s total market trading value. The Financial Services sector took the second place as the sector’s last week turnover was approx KD 13.64 million representing 21.22% of the total market trading value.

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