Kuwait stock indices record strong gains

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The KSE Indices witnessed a positive week as indices increased this week. The KSE price index closed at 7,043.46 an increase of 3.42 percent up 232.75 points compared to the previous week. As the MUDX witnessed an increase this week of 0.82 percent to close at 671.04 for the week. Moreover, the market blue-chip index the KSX15 closed on an increase of 6.03 points up 0.63 percent during the week to close at 963.15.

The reported weekly volumes were 1,877.69 million shares compared to 1,946.78 million shares in previous. Among the major contributors, the Financial Services Sector (contributing 34.56 percent) witnessed 648.14 million shares of trading compared to 645.49 million shares in the previous week, while Real Estate Sector (contributing 44.32 percent) witnessed 831.13 million shares of trading compared to 673.49 million shares in the previous week.

The overall Market Cap witnessed an increase this week as it stood at KD 29.11 billion up 0.6 percent on weekly basis. As for the blue chips, National Bank of Kuwait — NBK (Mcap — KD 4.14 billion) saw its market cap decrease by 2 percent during the week. However, Mobile Telecommunication Co — Zain ( Mcap — KD 1.98 billion) saw its market cap increased by 5.75 percent during the week. Ahli United Bank — AUB (Mcap — KD 1.704 billion) saw its market cap unchanged during the week. On the total market breadth, of the 56 Islamic Companies, 27 advanced while 17 declined during the week.

The Islamic universe market cap witnessed its market cap an increase of 0.96 percent to close at KD 8.25 billion. The universe heavyweights Kuwait Finance House — KFH (Mcap — KD 3.24 billion) saw its market cap stable during the week. Boubyan Bank (Mcap — KD 944.01 million) saw its market cap increase by 2.53 percent this week. Furthermore, Kuwait Telecommunication Co — VIVA (Mcap — KD 424.49 million) saw its market increase by 3.66 percent during the week – KFH CAPITAL

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