Liquidity surge helps boost KSE indices – Market cap rises 3.4 pct to KD 24.73 bln
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The KSE Indices witnessed a positive week as most indices increased this week. The KSE price index closed at 5,397.85 an increase of 1.44% up 76.39 points compared to the previous week. As the MUDX witnessed a similar increase this week of 2.06% to close at 536.86 for the week. While the market blue-chip index the KSX15 closed at 841.13 points up 4.49% during the week. |
Increased liquidity had positive effects on the weekly indies driving the market blue-chips into weekly gains.
The reported weekly volumes were 613.05 million shares compared to 394.25 million shares in previous. Among the major contributors, the Financial Services Sector (contributing 28.42%) witnessed 174.14 million shares of trading compared to 123.33 million shares in the previous week, while Banking Sector (contributing 20.65%) witnessed 126.52 million shares of trading compared to 86.35 million shares in the previous week.
The overall Market Cap witnessed an increase this week as it stood at KWD 24.73 billion up 3.4% on weekly basis. As for the blue chips, National Bank of Kuwait – NBK (Mcap – KWD 3.43 billion) saw its market cap increase 7.02% during the week. While Mobile Telecommunication Co – Zain ( Mcap – KWD 1.76 billion) saw its market cap increase by 12.33% continued effect due to reported growth in earnings for Q3. Moreover; Ahli United Bank – AUB (Mcap – KWD 1.30 billion) saw it market cap increase 1.05% during the week.
On the total market breadth, Of the 56 Islamic Companies, 27 advanced while 13 declined during the week.
The Islamic universe market cap witnessed its market cap an increase of 2.52% to close at KWD 6.33 billion. The universe heavyweights Kuwait Finance House – KFH (Mcap – KWD 2.51 billion) saw its market cap increase 3.23% during the week. While Boubyan Bank (Mcap – KWD 834.07 million) saw its market cap increase 2.67%. Kuwait Telecommunication Co – VIVA (Mcap- KWD 424.49 million) saw its market cap increase 2.41% during the week.
By KFH Capital
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