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Kuwait index ends in green with 11.02 pts rise – Oil and gas sector closes 1.875 points higher

KUWAIT CITY, Dec 22: Kuwait stocks continued their pull to the green, rising 0.2% or 11.02 points to close at 5,624.68 points with mixed boards. The weighted index ebbed 2.08 points lower to 380.41 points.

The KSE benchmark retreated 7.27 points to 900.16 points. A total of 96.18 million shares were traded for a value of KD 8.6 million in 2,512 trades. 124 counters remained active with only 34 closing in the green, 43 closed red and 47 closed flat.

Kuwait Building Materials Manufacturing Co was the top gainer of the day, making a 19.05% jump to 250 fils in share price. Sokouk Holding Co and ACICO industries Co followed with 5.88% and 5.66% increases to 45 fils and 280 fils respectively. National Petroleum Services Company and Injazzat Real Estate Development Co, at the same time, closed at 630 fils and 84 fils respectively with a 5% augment.

Manazel Holding, on the other hand, suffered a 9.62% cut to 23.5 fils and Kuwait Finance & Investment Company skid down to 36 fils, 6.49% lower. The Energy House Holding Company shed 5.81% of its price, closing at 40.5 fils and Yiaco Medical Co closed at 168 fils, suffering a 5.62% reduction. In the meantime, National Investments Company shifted 5.21% lower to 91 fils.

Manazel Holding traded the highest volume of 32.47 million shares of the day while Al Dar National Real Estate Co traded a robust 7.43 million shares. Sokouk Holding Co exchanged 7.17 million shares while GFH Financial Group and Kuwait Business Town Real Estate Co traded 4.61 million shares and 2.83 million shares respectively.

Telecommunications closed at 595 points, 0.68% lower and accounted for 3.93% of the total market volume and 16.55 of the total market value. Mobile Telecommunications Co Ð Zain shed 10 point to close at 345 fils while trading 1.99 million shares and Viva closed flat at KD 1. Ooredoo stood firm at KD 1.04 in low trade while Hits Telecom Holding Co dipped 0.5 points lower to 28.5 fils and traded 1.09 million shares.

The banking sector closed in the red with a 0.66% contraction to stand at 899.8 points with reductions in volume and value traded from the previous session. National Bank of Kuwait steered 10 points lower to the red to close at 800 fils, trading over 1 million shares while Kuwait Finance House stood firm at 550 fils. Gulf Bank trailed 5 points lower to 260 fils while Commercial Bank of Kuwait closed at an inert 500 fils and Kuwait International Bank dipped 2 points to 220 fils. Boubyan Bank made a 5 point retreat to 435 fils and Warba Bank slipped 2 points under to 194 fils. Burgan Bank closed flat at 385 fils while Ithmaar Bank skimmed 1 point lower to 42 fils.

Financial Services index stood at 595.1 points, down by 0.42% at the days close, making up half of the traded volume and a fifth of the total value. Manazel Holding slid 2.5 points lower to 23.5 fils trading 32.47 million shares while Kuwait Projects Company closed flat at 580 fils. GFH Financial Group made a 1 point climb to 36 fils and Al Imtiaz Investment Group stood stale at 77 fils. National Investments Company dove 5 points to 91 fils and Al-Madina For Finance And Investment Co and Al-Salam Group Holding Co closed flat at 33.5 fils and 34.5 fils respectively.

Real Estate stood at 945.7 points, up by 0.89%, accounting for 28.62% of the dayÕs total volume turnover and 14.27% of the total value traded in the market. Sokouk Holding Co clambered 2.5 points higher to 45 fils trading 7.17 million shares followed in close step by Al Dar National Real Estate Co that logging no change at a 27.5 fils close, traded 7.43 million shares. Munshaat Real Estate Projects Co moved 4 points higher to 91 fils and Kuwait Business Town Real Estate Co stood firm at 42 fils and Mabanee Company took a 10 point tumble to 940 fils.

Oil and gas stood 1.875 points higher at 802 points. Gulf Petroleum Investment edged 1 point lower to 52 fils while National Petroleum Services Company took a 30 point leap to 630 fils and Independent Petroleum Group made a 6 poitn increase to 250 fils. Al-Safat Energy Holding shifted 0.5 points upward to 13 fils while Burgan Company For Well Drilling, Trading & Maintenance trekked 6 points higher to 132 fils and The Energy House Holding Company slid 2.5 points lower to 40.5 fils.

Industrials closed at 1054.4 points, up by 0.54%. Agility Public Warehousing Company held ground at 485 fils in the session while Kuwait Portland Cement Co and Sharjah Cement And Industrial Development Co also closed flat at KD 1.080 and 82 fils. Meanwhile, National Ranges Company dipped 0.5 points lower to 21.5 fils.

In consumer goods, Mezzan Holding Co made a 20 poinbt jump to KD 1.180 while Danah Al Safat Foodstuff Company fell 2 points lower to 81 fils and Livestock Transport & Trading Co closed flat at 176 fils. Kuwait Food Company (Americana), at the same time, closed at KD 1.960 marking a 20 point cut.

In consumer services, Kuwait Resorts Company traded 1,6 million shares on the trading floor closing at a flat 96 fils while Zima Holding Co with a 2 point increment, closed at 122 fils in the green. Jazeera Airways Co closed flat at 910 fils.

In the technology sector, Future Communications Co. Global trailed 4 points lower to 110 fils and Hayat Communications Co closed at 47 fils with a 1.5 point rise.  In Basic Materials, Qurain Petrochemical Industries Company fell 2 point sunder to 186 fils and Boubyan Petrochemical Company closed flat at 520 fils.

In healthcare, Yiaco Medical Co chopped 10 points off to close at 168 fils and in the insurance sector,  Al Ahleia Insurance Co plunged 15 points lower, finishing at 435 fils.

 By Cinatra Fernandes

Arab Times Staff

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