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Saturday , January 23 2021

Kuwait bourse ends week’s trading in green – Market cap up 1.52% to reach KD 23.98 billion

Kuwait Stock Exchange (KSE) ended last week in the green zone. The Price Index closed at 5,244.00 points, up by 1.34% from the week before closing, the Weighted Index increased by 1.61% after closing at 362.10 points, whereas the KSX-15 Index closed at 854.63 points up by 1.96%. Furthermore, last week’s average daily turnover increased by 5.95%, compared to the preceding week, reaching KD 11.85 million, whereas trading volume average was 155.62 million shares, recording an increase of 15.37%.

As per the KSE’s performance last week, the market indicators continued its upward direction during the first session of the week supported by the active trading that concentrated on the small-cap and low-priced stocks, accompanied with selling pressures that included a number of the leading stocks, in light of a general performance characterized by shrinking cash liquidity and by 37.09%.  On the second session of the last week, the market witnessed mixed closings to the three indices, whereas the Price Index declined affected by the selling for profit operations which were executed on the stocks that realized big gains in the previous session, whilst the Weighted and KSX-15 indices were able to increase by the end of the session supported by the random purchasing operations witnessed by some leading stocks, which pushed the cash liquidity up to compensate its first session’s losses, in light of a relatively quiet performance in terms of volume and number of deals.

The Price Index was able to increase once again in the mid-week session, benefiting from the active speculative operations that included some small-cap stocks after its prices reached low levels, while the Weighted and KSX-15 indices decreased in the same session due to the selling pressures and the profit collection operations executed on the large-cap stocks, ignoring by this the positive monthly closings of the market indicators.  On Wednesday’s session, the three market indicators closed in the green zone, supported by the active trading activity on some leading stocks, in addition to the positive speculative operations that included some small-cap stocks, among a general state of optimism especially after the positive financial results for 2015 and the cash dividends distributions disclosed by most of the listed companies, which pushed the cash liquidity to increase by 44.08% to reach KD 16.65 million.

On the last session of the week, the market witnessed mixed closings to the three indices, whereas the selling for profit operations executed on some small and mid-cap stocks pushed the Price and Weighted indices to end the session with losses, while the KSX-15 Index recorded limited gains by the end of the session as a result to the purchasing operations witnessed by the operational and leading stocks, among a noticeable decrease in the trading activity compared to the previous session.

By the end of last week, the market capitalization for the listed companies in KSE reached KD 23.98 billion, increasing by around KD 359 million or 1.52% from its value in a week earlier, where it was KD 23.62 billion.  On an annual level, the market cap for Kuwait Stock Exchange recorded 5.09% loss from its value at end of 2015, where it reached then KD 25.27 billion.

As far as KSE annual performance, the price index ended last week recording 6.61% annual loss compared to its closing in 2015, while the weighted index decreased by 5.13%, and the KSX-15 recorded 5.09% loss.

Sectors’ Indices

Nine of KSE’s sectors ended last week in the green zone, while the other three recorded declines. Last week’s highest gainer was the Technology sector, achieving 6.76% growth rate as its index closed at 915.87 points. Whereas, in the second place, the Basic Materials sector’s index closed at 929.45 points or 4.29% increase. The Telecommunications sector came in third as its index achieved 3.37% growth, ending the week at 612.92 points.

On the other hand, the Health Care sector headed the losers list as its index declined by 4.36% to end the week’s activity at 972.22 points. The Consumer Services sector was second on the losers’ list, which index declined by 2.08%, closing at 939.17 points, the least declining sector was the Insurance sector, as its index closed at 1,051.08 points at a loss of 0.01%.

Sectors’ Activity

The Financial Services sector dominated a total trade volume of around 293.97 million shares changing hands during last week, representing 37.78% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 27.31% of last week’s total trading volume, with a total of around 212.49 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 17.99 million or 30.35% 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 12.78 million representing 21.56% of the total market trading value.

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