Kuwait stock indices edge lower – Market capitalization slips to KD 28.98 bln

The KSE Indices witnessed a negative week as indices decreased this week. The KSE price index closed at 6,711.16 an decrease of 0.83% down 55.88 points compared to the previous week. As the MUDX witnessed an decrease this week of 1.57% to close at 653.95 for the week.

Furthermore, the market blue-chip index the KSX15 closed on an decrease of 3.79 points down 0.39% during the week to close at 966.70. The reported weekly volumes were 1,384.63 million shares compared to 1,042.53 million shares in previous.

Among the major contributors, the Financial Services Sector (contributing 39.99%) witnessed 553.69 million shares of trading compared to 351.41 million shares in the previous week, while Real Estate Sector (contributing 26.33%) witnessed 364.64 million shares of trading compared to 372.97 million shares in the previous week.

The overall Market Cap witnessed an decrease this week as it stood at KWD 28.98 billion down 0.6% on weekly basis. As for the blue chips, National Bank of Kuwait — NBK (Mcap — KWD 4.26billion) saw its market cap decreased by 1.32% during the week.

However, Mobile Telecommunication Co — Zain (Mcap — KWD 2.092 billion) saw its market cap increased by 2.11% during the week . Ahli United Bank — AUB (Mcap — KWD 1.663 billion) saw it market cap increase by 1.67% during the week On the total market breadth, of the 56 Islamic Companies,11 advanced while 35 declined during the week.

The Islamic universe market cap witnessed its market cap an decrease of 1.83% to close at KWD 8,010 billion. The universe heavyweights Kuwait Finance House — KFH (Mcap — KWD 3.197 billion) saw its market cap unchanged during the week.

However, Boubyan Bank (Mcap — KW 909.89 million) saw its market cap decrease by 2.32% this week. Furthermore GFH Financial Group (Mcap — KWD 478.4 million) saw its market gap a signifi cant decreased by 12.40%. while, Kuwait Telecommunication Co — VIVA (Mcap- KWD 409.51 million) saw its market unchanged during the week.

KFH Capital

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