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Saturday , February 29 2020

Kuwait equities extend decline as mood mixed

Arabi Holding Group gains 4 fils, NBK dips

KUWAIT CITY, Dec 17: Kuwait Stock Market (Boursa) for the second day in succession saw red as the All Shares Index eased 5.56 points in volatile session to 6,139.48 points even as the overall mood remained mixed. The Premier Market lost 18.41 points downward 6,796.55 points while the Main Market climbed 4.57 points to post 4,842.34 points. Over 154 million shares changed hands.

In the Individual shares National Bank Of Kuwait shed 6 fils to read 1.050 on the back of over eight million shares traded. The Gulf Bank rose 4 fils for trade of over 7 million shares and the Kuwait International Bank shed 4 points to remain at 271 fils.

The Burgan Bank shed 1 fil and the Kuwait Finance House lost 6 fils for 305 and 793 fils reading respectively after trading in more than 2 million and 5 million shares respectively.

Mabanee Company surged 12 fils to stand at 852 fils as it traded more than 1 million shares. Qurain Petrochemical Ind Co and National Industries Group (Holding) gained 1 fil each and Agility Public Warehousing Company and Ahli United Bank (B.S.C) shed an equal number to read 788 and 304 fils respectively.

Humansoft Holding Co was down 6 fils while Mezzan Holding Co surged 9 fils for a 509 fils reading. The top gainer of the day was Kuwait National Cinema at 43 fils followed by the United Projects Co with 22 fils for 512 fils. The biggest loser of the day was Dar Al Thuraya Real Estate Co which shed 12 fils to post 108 fils while Tamdeen Real Estate Company and Mabanee Company gained in equal value posting 312 fils and 852 fils respectively. The losers for a second straight day outdid the gainers.

Of the 121 shares traded 53 stocks advanced and 56 closed lower and 12 stocks remained unchanged for the day. The total number of deals worth 36.9 million dinars was transacted during the session. Top gainer of the day, was Automated Systems Company with 10 percent to finish at 71.5 fils and Alrai Media Group Company sprinted 7.58 percent while Dar Al Thuraya Real Estate Co dipped 10 percent, the steep decline of the day while Ahli United Bank (B.S.C) topped the volume with more than 17.7 million shares traded. Those companies which remained stagnant are Kuwait Projects Company (Holding) with 217 fils; Mobile Telecommunications Company (Zain), 580 fils; Commercial Bank Of Kuwait, 530 fils; National Investments Company, 133 fils; Coast Investment & Development Company, 37.5 fils; Kuwait Financial Centre, 99.9; Al- Madina For Finance And Inv Co, 15 fils; United Real Estate Company, 61.2 fils and Educational Holding Group, 430 fils, respectively. Mabanee offset yesterday’s loss of 2 fils to post 12 fils in the green as it traded in over 1 million shares. Boubyan Bank posted an increase of just 1 fil as it traded more than 1.9 million shares. Ahli United Bank, and Kuwait Investment Company shed in fil each for 326 fils and 139 fils respectively.

Elsewhere, Aayan Leasing & Investment Co posted spiked 1.1 fils for more than 11.7 million shares and Warba Insurance Company (K.S.C.P) took in 2.2 fils for 66.1 fils reading. Amwal International Investment Co was down 3.2 fils for a reading of 32.5 fils and Kuwait Syrian Holding Co was up 0.8 fil; Kuwait Real Estate Company dialed 2 fils higher; Noor Financial Investment climbed 3 fils to read 125 fils and Madar Finance And Investment Co lost 2.3 fils after trading in over 1.3 million shares. Tamdeen Real Estate Company posted 12 fils, while Ajial Real Estate Entertainment Co lost 5 fils, Al-Enma A Real Estate Co was up 0.9 fil, The Commercial Real Estate Co shed 1 fil to read 94 fils; Investors Holding Group Co remained fl at after trading in more than 2 million shares. Al-Mazaya Holding Co rose 0.6 fil; Abyaar Real Estate Development Co 0.2 fil; while Munshaat Real Estate Projects Co and First Dubai For Real Estate Dev lost 2.9 fils and 1.2 fils to reach 73 fils and 34.3 fils respectively.

The Arabi Holding Group Co posts 4 fils on the plus side so also Hilal Cement Co which was up 5 fills as it traded in 8,270 shares. Those companies which barely remained on the positive side are Gulf Petroleum Investment for 0.1 fil; Abyaar Real Estate Development Co 0.2 fil; Mena Real Estate Company, 0.1 fil; Specialities Group Holding Co 0.6 fil; and Ajwan Gulf Real Estate Co 0.2 fil and also KGL Logistics Company which post 0.1 fil.

Among the minor losers were the Danah Alsafat Foodstuff Com .04 fil; Jiyad Holding Company 0.2 fils Kuwait & Gulf Link Transport Co 0.3 fil; Mashaer Holding Company (K.S.C.Public) 0.2 fil; synergy 0.1 fil and equipment 0.1 fil respectively.

By Paul Francis X. Fernandes Arab Times Staff

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