KUWAIT CITY, Nov 8: Kuwait stocks pulled slightly higher on Sunday after charting a mixed course during last week. The price index rose 6.06 points in choppy trade to 5,776.84 pts even as the board remained mixed. Some of the banking shares eked modest gains while other heavyweights swung in both directions.
The KSX 15 gauge climbed 5.49 points to 935.26 pts taking the month’s gains to 11 points while weighted index edged 1.1 pts up. The volume turnover meanwhile was almost flat as investors toed caution. 135.8 million shares changed hands – a 0.99 pct drop from Thursday.
The sectors closed mostly in the positive turf. Basic materials outshone the rest with 2.37 pct gain whereas telecommunications shed 1.74 percent, the biggest loser of the day. In terms of volume, financial services mustered the highest market share of 38.69 percent while real estate stood next with 26.35 pct contribution.
Among the notable movers, Kuwait Food Co (Americana) soared 40 fils to KD 2.300 while Boubyan Petrochemicals Co rallied 30 fils. Salhia Real Estate Co climbed 15 fils and Combined Group Contracting Co gained 10 fils to settle at KD 0.790.
Telecom major Zain rose 5 fils on back of 1.13 million shares and Wataniya Telecom (Oordeoo) slumped 40 fils erasing most of the gains in the previous session. Kuwait Telecommunications Co (VIVA) shed 20 fils and Agility held the ground steady at KD 0.510 with a volume of over 3 million.
National Bank of Kuwait climbed 10 fils on back of 2.45 million shares whereas Commercial Bank of Kuwait closed flat. The bank has clocked a net profit of KD 25.40 million and earnings per share of 18 fils in the nine-month period ending Sept 30, 2015.
The market opened slightly weak and slipped further in early trade. The main index swung back close to the opening mark and see-sawed before drifting lower amid selling in select counters. It plumbed the day’s lowest level of 5,745.05 pts past the mid-session and managed to claw back into the green territory at close.
Top gainer of the day, Manafae Holding Co spiked 8.47 pct to 64 fils while Coast Investment and Development Co stood next with 7.14 percent jump. Kout Food Co slid 6.9 percent, the steepest decliner of the day and Investors Holding Co topped the volume with 14.66 million shares.
National Industries Group , the flagship company of Kharafi Group, took in 2 fils extending an identical rise in the last session while Gulf Cable slipped 5 fils to KD 0.405. Kuwait Cement Co added 5 fils whereas Kuwait Portland Cement Co dived 40 fils to KD 1.120.
Shuaiba Industrial Co dipped 25 fils and RISCO held steady at KD 0.325. The company has registered a net profit of KD 3.22 million and earnings per share of 34.68 fils in the January-September period as compared to net profit of KD 2.92 million and earnings per share of 31.45 fils in the same period last year.
Jazeera Airways was unchanged at KD 0.475 off early lows and ALAFCO followed suit. The company has posted a net profit of KD 16.04 million and earnings per share of 19.59 fils in the nine-month period ending Sept 30, 2015 as compared to net profit of KD 16.52 million and earnings per share of 20.18 fils in the same period of 2014.
Kuwait Gulf Links Co edged 1.5 fils up to 50 fils and KGL Logistics Company settled 1 fils in green. The company has recorded a nine-month net profit of KD 5.4 million and earnings per share of 9.01 fils Contracting and Marine Services Co rose 6 fils to KD 0.110.
Metal and Recycling Co was flat at 65 fils and ACICO Industries closed 5 fils higher. Equipment Holding Co ticked 1 fils up on back of over 1 million shares and Qurain Petrochemical Industries Co dialed up 2 fils. NAPESCO was down 10 fils at KD 0.600.
IFA Hotels and Resorts rallied 6 fils with a volume of 2.45 million whereas Jeeran Holding Co vacillated in tight range before pausing at 63 fils. Zima Holding climbed 5 fils whereas Kout Food Group slid 40 fils to KD 0.540.
In the banking sector, Gulf Bank rose 10 fils to KD 0.275 and Al Ahli Bank was unchanged at KD 0.370. Ahli United Bank was down 10 fils at KD 0.530 and Burgan Bank gave up 5 fils. Boubyan Bank fell 5 fils to KD 0.435 and Warba Bank held steady.
Kuwait Finance House was flat at KD 0.570 and Kuwait International Bank followed suit. The bank has clocked a net profit of KD 11.75 million and earnings per share of 12.59 fils in the January -September period. Ithmaar Bank was unchanged at 47 fils after trading over 2 million shares.
National Investment Co dialed up 2 fls and Securties House Co eased 3 fils. Investment major KIPCO held steady at KD 0.600 and Kuwait Investment Co clipped 2 fils. KAMCO paused at 102 fils.
Bayan Investment Co stagnated at 39 fils and Osoul Investment Co closed flat. Mabanee Co shed 20 fils and Salhia Real Estate was down 15 fils at KD 0.340.
The bourse was mixed during last week. It closed lower in two of the five sessions and fell 5 points week-on-week. It is up by a marginal 1 pts so far during the month and is trading 11.61 pct lower year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region.
In the bourse related news, Hilal Cement Company has incurred a net loss of KD 117,151 and loss per share of 1.5 fils in the nine-month period ending September 30, 2015 narrowing from net loss of KD 282,090 and loss per share of 3.7 fils in the year before period.
Aayan Real Estate Co. has recorded a net profit of KD 1.09 million and earnings per share of 2.6 fils in the January-September period down from net profit of KD 2.58 million and earnings per share of 6.2 fils in 9M 2014.
Future Communications Co Global has posted a net profit of KD 732,998 and earnings per share of 9.05 fils in the first nine-months of 2015, up from net profit of KD 635,355 and earnings per share of 7.84 fils in the same period of last year.
The Energy House Co has logged a net loss of KD 668,888 and losses per share 0.892 fils in the nine-month period ending September 30, 2015 narrowing from a net loss of KD 2.21 million and losses per share of 2.947 fils in the same period last year.
Warba Bank has recorded a net profit of KD 1.25 million and earnings per share 1.25 fils in the first nine-months of the year as compared to net profit of KD 318,000 and earnings per share of 0.32 fils in the 9M of 2014.
By John Mathews
Arab Times Staff