KUWAIT CITY, April 13: Kuwait stocks headed north on Wednesday extending the gains from last session. The price index, after a tame start, climbed 31.15 pts to 5,306.19 points amid broad buying led by banks and financial shares.

The KSX 15 measure jumped 9 pts to 861.88 points taking the month’s gains to 11 points while weighted index rose 3.1 pts. The volume turnover meanwhile was little changed from Tuesday’s level. 249.15 million shares changed hands — down 1.03 pct from the day before.

The sectors closed mostly in the green zone. Financial services outshone the rest with 1.6 pct gain whereas parallel market shed 3 pct, the worst performer of the day. In terms of volume, financial services accounted for the highest market share of 43.45 pct while real estate stood next with 35.6 percent. Bank sector was a distant third with 7.8 pct contribution.

Among prime movers, National Bank of Kuwait rallied 10 fils on back of over 1 million shares and Kuwait Finance House was up 5 fils with a volume of 2.55 million. Kuwait Insurance Co climbed 25 fils to 310 fils.

Zain was unchanged at 350 fils after trading 3.3 million shares and Wataniya Telecom (Ooredoo) too gave up early gains to close flat at KD 1.060. Kuwait Telecommunications Co (VIVA) stood pat at KD 1.020 off early highs and Agility added 5 fils on back of over 1 million shares.

Investment conglomerate KIPCO rose 10 fils to KD 0.570 whereas KMEFIC clipped 2 fils. The company has logged a net loss of KD 2.421 million and losses per share of 9.30 fils in the year 2015 widening from net loss of KD 1.09 million and losses per share of 4.20 fils in 2014.

The market opened flat and moved sideways in early trade. The main index continued to move listlessly past the mid-session before revving up in the final minutes to close with sizable gains.

Top gainer of the day, MENA Real Estate Co vaulted 9.09 pct to 24 fils and Kuwait Insurance Co climbed 8.77 pct to stand next. Amar For Finance and Leasing Company skidded 25 pct, the steepest decliner of the day and Abyaar Real Estate Co topped the volume with 18.7 million shares.

Mirroring the day’s upswing, the winners vastly out led the losers. 67 stocks advanced whereas 25 closed lower. Of the 137 counters active on Wednesday, 45 closed flat. 5,052 deals worth KD 17.5 million were transacted — a 2.6 percent fall in value from the day before.

National Industries Group dialed up 2 fils on back of 2.9 million shares while Kuwait Food Co (Americana) gave up early gains to end unchanged at KD 2.600 and is trading 160 fils lower from start of the month.

Jazeera Airways gained 10 fils after trading in red earlier in the day while ALAFCO was unchanged at 212 fils. Boubyan Petrochemicals Co gained 10 fils whereas Kuwait Packing Materials Co slid 25 fils. NICBM was up 4 fils at 240 fils.

United Projects Group dropped 10 fils to KD 0.700 whereas Palms Agro Production Co paused at 110 fils. The company has logged a net profit of KD 892,487 and earnings per share of 17.06 fils in the last year. The Board of Directors has recommended 10 percent cash dividends.

Added

Equipment Holding Co stood pat at 57 fils and Gulf Cable added 5 fils to settle at KD 0.360. The company has posted a net loss of KD 31,57 million and losses per share of 150 fils in 2015 as against net profit of KD 4.54 million and earnings per share of 22 fils in 2014.

Zima Holding Co took in 2.5 fils and ACICO Industries Co gained 5 fils. The company has posted a net profit of KD 8.38 million and earnings per share of 30.69 fils in the year ended Dec 31, 2015. The Board of Directors has proposed 15 percent cash dividends and 5 percent bonus shares.

Kuwait and Gulf Transport Co inched 1 fils higher to 47 fils and KGL Logistics eased 1 fils. Jeeran Holding Co surrendered early gains to close flat at 72 fils and Mashaer Holding Co ticked 1 fils up. Kuwait

Resorts Co shed 4 fils and Mezzan Holding Co stagnated at KD 1.160.

In the banking sector, Gulf Bank climbed 8 fils to 242 fils and Ahli United Bank added 5 fils extending an identical rise in the last session. Al Ahli Bank paused at 335 fils and Commercial Bank was not traded during the session.

Kuwait International Bank took in 2 fils and Burgan Bank rose 5 fils to KD 0.340 recouping the drop in the day before. Boubyan Bank gained 10 fils after trading over 1 million shares and Warba Bank closed 2 fils in green.

National Investment Co climbed 4 fils on back of 8.2 million shares and Kuwait Investment Co inched 1 fils up to 89 fils. Securities House Co and Osoul Investment Co added 2.5 fils each while Kuwait Financial Centre gained 5 fils.

Bayan Investment Co nudged 1.5 fils higher and KAMCO rose 3 fils to 98 fils. Al Mazaya Holding Co climbed 6 fils and Salhia Real Estate Co gave up 5 fils.

The market has been largely upbeat so far during the week and has jumped 76 points in last four sessions. The price index has climbed 77 points so far during the month but is down 5.5 pct year-to-date. KSE, with 190 listed companies, is the second largest bourse in the region.

In the bourse related news, KAMCO Investment Company has logged a net profit KD 523,688 and earnings per share of 2.20 fils in the year 2015 as against net profit of KD 1.96 million and earnings per share of 8.23 fils during the year before

Gulf Investment House has clocked a net loss KD 6.085 and losses per share of 37.07 fils in the year ending December 31, 2015 as compared to net loss of KD 1,62 million and losses per share of 10.42 fils in 2014.

Tamdeen Investment Co has posted a net profit of KD 11.52 million and earnings per share of 39.07 fils in the year ending Dec 31, 2015, up from net profit of KD 9.05 million and earnings per share of 30.41 fils in the year before.

Salhia Real Estate Company has posted an annual net profit of KD 11.62 million and earnings per share of 23.55 fils as compared to net profit of KD 11.42 million and earnings per share of 23.07 fils. The Board of Directors has recommended 20 pct cash dividends.

Injazzat Real Estate Development Company has clocked a net profit KD 3.07 million and earnings per share of 9.2 fils in 2015, rising sharply from net profit of KD 1.51 mln and earnings per share of 4.5 fils in the same period last year. The BOD has recommended 5 pct cash dividends.