Kuwait City, March 10: Kuwait stocks pulled higher on Thursday to end the week on a positive note. The bourse rose 6 points in flattish trading to 5284.87 points even as the board remained broadly mixed.

The KSX 15 gauge rose 3.41 points to 871.7 pts taking the month’s gains to 44 points while weighted index edged 0.98 points higher. The volume turnover meanwhile slipped slightly after recdeding in last three sessions. 152.61 million shares changed hands - 4.72 percent fall from Wednesday.

The sectors diverged during the day. Telecommunications out led the rest with 2.58 percent gain and healthcare shed 2.24 pct, the worst performer of the day. In terms of volume, financial services clocked the highest market share of 35.44 pct while banks and real estate trailed with 21.8 pct and 20.98 percent contributions respectively.

Among the notable movers, National Bank of Kuwait climbed 10 fils on back of over 1 million shares extending an identical rise in the day before and Kuwait Food Co (Americana) continued its winning streak with 60 fils jump. United Projects Group gained 20 fils to settle at KD 0.680.

Telecom major Zain was up 5 fils at KD 0.380 taking the month’s gains to 20 fils and Wataniya Telecom (Ooredoo) held steady at KD 1.220. Kuwait Telecommunications Co (VIVA) rallied 40 fils to KD 1.020 whereas Agility dropped 10 fils to KD 0.450.

Investment major KIPCO was flat at KD 0.550 whereas Bayan Investment Co. inched 0.5 fils into red. The company has posted a net loss of KD 50,336 and losses per share of 0.14 fils in the year ending Dec 31, 2015 as compared to net profit of KD 2.50 million and earnings per share of 6.93 fils in the year before.

The market opened flat and moved steady along the opening mark as shares swung in both directions. It continued to drift in a linear path and slipped briefly to day’s lowest level of 5274.71 points before clawing back into the green zone at close.

Top gainer of the day, NICBM soared 8.18 pct to 238 fils while Ithmaar Bank climbed 7.35 pct to stand next with the day’s highest volume of 29.16 million. Kuwait Cable Vision Co slid 9.26 percent, the steepest decliner of the day.

Mirroring the day’s uptick, the winners slightly out led the losers. 46 stocks advanced whereas 38 closed lower. Of the 134 counters active on Thursday, 50 closed flat. 3461 deals worth KD 12.7 million were transacted – a 28 pct drop in value from the day before.

National Industries Group was unchanged at KD 0.238 whereas Safwan Trading and Contracting Co shed 20 fils. Jazeera Airways added 10 fils to end at KD 0.870 and ALAFCO swung 10 fils into red. ACICO Industries Co and Shuaiba Industrial Co paused at KD 0.270 and KD 0.420 respectively.

Equipment Holding Co was unchanged at 54 fils and Kuwait Portland Cement Co shed 20 fils. The company has posted a net profit of KD 4.82 million and earnings per share of 50.50 fils during the full year of 2015 as compared to net profit of KD 8.26 million and earnings per share of 86.56 fils. The Board of Directors has recommended 50% cash dividends in addition to 5% bonus shares.

Dropped

YIACO Medical Co dropped 8 fils to KD 0.190 and Privatization Holding Co gave up 3 fils after trading over 2 million shares. Zima Holding inched 1 fils higher on back of 5.8 million shares and Osos Holding Group Co slipped 3 fils into red.

 Kuwait and Gulf Link Transport Co rose 1.5 fils to 46 fils and KGL Logistics Co held steady at 65 fils. Qurain Petrochemical Industries Co and Salbookh Trading Co took in 2 fils each whereas Ikarus Petroleum Industries Co dropped 4 fils to 78 fils.

In the banking sector, Gulf Bank fell 4 fils to 216 fils whereas Commercial Bank of Kuwait and Al Ahli Bank stood pat at KD 0.500 and KD 0.360 respectively. Ahli United Bank fell 5 fils to KD 0.430 and Burgan Bank followed suit.

Kuwait International Bank was flat at 198 fils and Kuwait Finance House pulled up from slight early losses to close unchanged at KD 0.510. Warba Bank stood pat at 176 fils.

National Investment Co paused at 91 fils and KMEFIC followed suit. 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.

Al Deera Holding Co and Noor Financial Investment Co was flat at 30 fils and 47 fils respectively while Securities House Co eased 0.5 fils after trading 2.7 million shares. Kuwait Investment Co took in 1 fils and International Financial Advisors clipped 0.5 fils with a volume of over 1 million.

National Real Estate Co stood pat at 99 fils and Mabanee Co too did not budge from its earlier close of KD 0.870. Al Mazaya Holding stagnated at 110 fils and Alargan International Real Estate Co dropped 6fils to 176 fils.

The market was mixed during the week. The price index closed higher in three of the five sessions and climbed 40 points week-on-week. . It had rallied 77 pts so far during the month and is trading 5.88 pct lower year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region.

In the bourse related news , Credit Rating and Collection Co. has incurred a net loss of KD 454,911 and losses per share of 2.76 fils in 2015 as against net loss of KD 2.26 million and losses per share of 13.73 fils in the year before.

 INOUEST has incurred a net loss of KD 14.37 million and loss per share of 50.48 fils in 2015 as compared to net loss of KD 1.149 million and loss per share of 4.03 fils in the year before.

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

Kuwait Insurance Company has logged a net profit of KD 5.69 million and earnings per share of 30.69 fils in the year ending Dec 31, 2015 up from net profit of KD 5,14 million and earnings per share of 27.64 fils in 2014. The BOD has recommended 20 pct cash dividends

Aqar Real Estate Investments Co. has registered a net profit of KD 2.49 million and earnings per share of 11.07 fils during 2015 as against

Net profit of KD 2.24 million and earnings per share of 9.81 fils in the year before. Board of Directors recommended 6% cash dividends.