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Tuesday , August 20 2019

Kuwait stocks kickstart week with 11.85 pts gain – Kout Food Group top gainer

Kuwait City, Nov 29: Kuwait stocks pushed 11.85 points above the red line to close at 5806.49 points, starting the week 0.2% higher with mixed boards. The weighted index ebbed lower to 393.74 points.

The KSE benchmark dipped 7 points down to stand at 936.53 points. The bourse marked a 96.75 million share volume turnover to a total value of KD 8.2 million in 2730 trades. 127 companies traded in the session, with 42 counters advancing, 43 declining and 42 marking no change.

Kout Food Group was the top gainer, increasing 6.94% in its share price, to close at 700 fils and become the top gainer of the session. Metal & Recycling Co gained 6.67% to close at 79 fils and Arzan Financial Group For Financing And Investment shifted 6.67% upward to 40 fils, albeit with low traded volumes. Meanwhile, Al-Qurain Holding Co hiked 6.25% in share price to 8.5 fils and Strategia Investment Company took a 6.06% increment to 35 fils.

At the same time, Automated Systems Company took a hard 7.69% fall to 300 fils and Mena Real Estate Company dived 7.27% lower to 25.5 fils. Burgan company for well drilling, trading & Maintenance took a 6.67% cut to 112 fils and made it in the list of losers while Al-Massaleh Real Estate Co closed at 58 fils, down by 6.45%. Flex Resorts & Real Estate Co concurrently, lunged 6.25% below the line to 37.5 fils.

Gulf Petroleum Investment traded the highest volume of the day, exchanging 8.31 million shares and Al Dar National Real Estate Co followed close behind with 5.7 million while The Securities House exchanged 5.53 million shares. Mushrif Trading & Contracting Co, at the same time, traded 5.48 million shares and Injazzat Real Estate Development Co closed the floor with 5.4 milliion shares traded.

Telecommunications faced a 0.23% contraction, closing at 633.31 points. Mobile Telecommunications Company — Zain held shed 5 points to close at 365 fils and Ooredoo held ground at KD 1.04. Hits Telecom Holding Company and Viva both closed flat at 31 fils and KD 1.080.

Banking Sector moved up by 0.04% stood at 929.9 points. National Bank of Kuwait slipped 10 points down to close at 820 fils while Kuwait Finance House held ground at 580 fils and Warba Bank closed flat at  206 fils. Boubyan Bank with a 5 point slump, closed at 435 fils. Ithmaar Bank closed at 45.5 fils, unchanged while Kuwait International Bank stumbled 4 points lower to 226 fils while Burgan Bank closed flat at 390 fils.

Higher

Financial Services stood at 639.1 points up 0.61%, making up 30.17% of the total volume and 16% of the total value. The Securities House pulled 1 point higher to 48.5 fils trading 5.53 milliion shares on the floor and  Privatization Holding Company eased 1 point to the red closing at 60 fils a piece. Gulf Finance House slid 1 points lower to 34 fils while Manazel Holding crept up 0.5 points to 25.5 fils and Bayan Investment Company marked a slight 0.5 point rise to the green, closing at 39 fils. Gulf North Africa Holding Company closed flat at 31.5 fils and A’ayan Leasing & Investment Co took a 2 point increment to 54 fils. Al-Madina For Finance And Investment Co closed flat at 46 fils.

Real Estate dipped in volume and value traded from the previous session and the index stood at 982 points in the green. Injazzat Real Estate Development Company made a 5 point leap to 90 fils trading 5.4 million shares on the floor while National Real Estate closed in the green with a 1 point increase to 98 fils and 4.29 million shares traded. Munshaat Real Estate Projects Co marched 4 points higher to 91 fils. Sokouk Holding Co trudged 1 point higher to 47.5 fils. Mabanee Co took a 20 point nose dive to 930 fils while Abyaar Real Estate Development Company rose by 1 point in share price to 31.5 fils. Al Mudon International Real Estate Company closed flat at 36 fils.

The Oil and Gas sector index stood at 770.4 points, with a 1.51% downturn. Gulf Petroleum Investment slid 3 points lower to 53 fils and traded 8.31 million shares in the session while Al-Safat Energy Holding inched closed flat at 13.5 fils and Ikarus Petroleum Industries Co receded to 89 fils.

Industrials closed at 1,041 points, up by 1.77% with a fall in volume and value as compared to the previous session. Agility Public Warehousing Company traced a 10 drop to 530 fils while Mubarrad Transport Co and

Aviation Lease And Finance Co closed flat at 73 fils and 218 fils respectively.

Technology index stood at 847.6 points, 2.78% lower than last weeks close. Osos Holding Group Company and Hayat Communications Co Stood their ground at 82 fils and 47.5 while Automated Systems Company suffered a 25 point descent to 300 fils.

Basic Materials closed at 1,041.9 points, up 1.77% with a marked increase in volume and value turnover. Qurain Petrochemical Industries Company surged 6 points ahead to 194 fils, trading 1.09 million shares while Boubyan Petrochemical Co jumped 10 points higher to a 570 fils price.

In Healthcare, Yiaco Medical Co sagged 10 points lower to 160 fils. In insurance, Wethaq Takaful Insurance Company closed 2 points higher at 42 fils in the green.

In Consumer goods,  Mezzan Holding Co and Kuwait Food Company (Americana) dove 20 points below the line to KD 1.060 and KD 2.260 respectively while Danah Al Safat Foodstuff Company fell 2 points down to 92 fils. Kuwait United Poultry Co closed flat at 176 fils while Livestock Transport & Trading Co skid 4 points down to 136 fils.

In consumer services, Sultan center food products Co progressed by 2 points to close at 75 fils while Zima Holding Co moved 4 points upwards to 116 fils. Kuwait National Cinema Co fell to 970 fils, down by 10 points and Jazeera Airways Co made a 5 point upswing to 475 fils.

By Cinatra Fernandes

Arab Times Staff

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