Kuwait extends gains in volatile session
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Humansoft Holding climbs 15 fils, Zain edges down
KUWAIT CITY, Dec 13: Kuwait stocks crept higher on Sunday extending last session’s modest gains. The All Shares Index climbed 12.94 pts to 5,572.84 points in a volatile session helped by some of the mid-caps even as the heavyweights closed narrowly mixed. The Premier Market rose 3.95 pts to 6,101.85 points while Main Market scaled 31.83 pts taking month’s gains to156 pts.
The BK 50 Main index sprinted 28.31 points to 4646.49 pts. The volume turnover meanwhile rebounded following the two-day drop. Over 240 million shares changed hands – a 13 pct rise from the last session. The sectors closed mostly in green turf. Utilities outshone the rest with 3.29 pct gain whereas Oil and Gas slipped 0.27 percent, the worst performer of the day. Volumewise, Financial Services continued to top with 115.2 million shares while Banking sector was ahead in value with over KD 8 million.
In the individual shares, Kuwait Finance House rose 2 fils on back of 2.5 million shares to 680 fils while Mabanee Co added 3 fils before settling at 674 fils and is up 50 fils so far during the month. Gulf Insurance Co jumped 35 fils to 635 fils and Ahleia Insurance Co darted 20 fils to 460 fils. Humansoft Holding was up 15 fils at KD 3.650. Zain fell 2 fils after trading 2.7 million shares while Ooredoo closed 3 fils up at 626 fils. stc took in 1 fil and logistics major Agility gave up 3 fils before ending at 675 fils. Boursa rose 4 fils to KD 1.127 and UPAC paced 26 fils with thin trading. KIPCO inched 1 fil higher to 156 fils whereas Kuwait Investment Co and KAMCO stood pat at 124 fils and 74 fils respectively. National Investment Co dialed up 2 fils on back of 1.9 million shares and Noor Financial Investment Co fell 3 fils to 172 fils.
The market opened firm and pulled higher in early trade. The main index slipped back into a trough and swung back again to green zone half way into the session. It headed south before clawing back into positive turf in the final hour to close with modest gains.
Top gainer of the day, Bareeq galloped 25 pct to 50 fils while Kuwait Foundry Co climbed 9.8 percent to stand next. Gulf Cement Co shed 6.45 percent, the steepest decliner of the day and Arzan topped the volume with over 28 million shares. Mirroring the day’s gains, the winners outnumbered the losers. 61 stocks advanced whereas 45 closed lower. Of the 123 counters active on Sunday, 17 closed fl at. 9509 deals worth KD 32.38 million were transacted during the session. National Industries Group was unchanged at 189 fils whereas Mezzan Holding dialed up 2 fils. Boubyan Petrochemical Co dialed up 2 fils and Al Qurain Petrochemical Co eased 1 fil to 341 fils.
Integrated Holding rose 5 fils on back of 2.6 million shares while Aznoula scaled 9 fils after pushing 5.2 million shares. Jazeera Airways paced 14 fils to close at 739 fils while ALAFCO was up 4 fils at 214 fils after pushing over 117 million shares. YIACO tripped 1 fil and Al Manar clipped 2.2 fils. Oula Fuel took in 1 fil and Soor paused at 122 fils. PAPCO fell 3.5 fils to 66.5 fils and Automated Systems Co edged 1 fil higher to 72 fils. Kuwait National Cinema Co gained 19 fils. Kuwait Cement Co ticked 1 fil higher to 229 fils whereas Kuwait Portland Cement climbed 14 fils to 790 fils. Gulf Cement Co dialed down 2 fils and Fujairah Cement gave up 1.5 fils to close at 32.5 fils. KCPC extended last session’s gains with 11 fils rise to 373 fils and Educational Holding slipped 6 fils. Kuwait Foundry Co raced 26 fils to 291 fils whereas Gulf Cable closed 3 fils in red. Metal and Recycling Co eased 0.1 fils to 39.9 fils whereas ACICO Industries and Independent Petroleum Group were unchanged at 91 fils and 490 fils respectively. Warbacap clipped 2 fils and NICBM eased 1 fil to 47 fils. Kuwait and Gulf Links Transport Co added 1.9 fils on back of over 1 million shares.
In the banking sector, National Bank of Kuwait fell 2 fils to 844 fils after trading 2.3 million shares while Burgan Bank and Boubyan Bank took in 1 fil each. Gulf Bank stood pat at 218 fils after trading 3.6 million shares whereas Kuwait International Bank added 3 fils on back of 4.9 million shares. Warba Bank and Ahli United Bank were fl at at 237 fils and 243 fils respectively. The market was mixed during the past week. The main index closed lower in three of the five sessions adding 17 points week-on-week. It has climbed 113 points from start of the month but is down 710 points year-todate.
By John Mathews Arab Times Staff
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