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Boursa Kuwait ended August in the green zone. The Price Index closed at 6,892.10 points, up by 0.59% compared to the closings of the month before, the Weighted Index increased by 4.18% after closing at 430.57 points, whereas the KSX-15 Index closed at 984.90 points increasing by 4.42%. Furthermore, last month’s average turnover increased by 6.63%, compared to the preceding month, reaching K.D 14.57 million, whereas trading volume average was 78.78 million shares, recording an decreased of 4.86%.
The market continued its positive performance that it started the month of July with, and the three indices were able to record gains for the second consecutive month, benefiting from some positive factors witnessed during the month, as the market interacted with the relative improvement witnessed by the oil prices, in addition to the positive results disclosed by some listed companies and banks in the market for the first half of 2017. Also, such factors contributed in enhancing most of the traders’ morale and tempted them to executed some purchasing operations included many stocks of different sectors, especially the leading stocks, which reflected its positive performance during the month on the Weighted and the KSX-15 indices, which witnessed a relatively better performance from the Price Index that ended the month’s trading with limited gains.
Moreover, the market was not away from the effect of the quick profit collection operations that were present during some daily sessions of last month, where such operations were able to push the three indices to the red zone, especially the Price Index, that was affected by the concentration of such operations on some small-cap stocks, which caused to limit its monthly gains.
The Boursa realized good gains to its market capitalization during the last month reached about K.D. 1.46 billion, as the total value of the listed companies in the Boursa (primary market) by the end of August reached K.D. 28.77 billion against K.D. 27.31 billion at end of July, up by 5.35%. On an annual level, the market cap gains for the Boursa reached more than K.D. 3 billion or 13.22% compared to its value at end of 2016, where it reached then K.D. 25.41 billion. (Note: the market value for the listed companies in the official market is calculated based on the average number of outstanding shares as per the latest available financial statements).
For the annual performance, the Price Index ended last month recording 19.90% annual gain compared to its closing in 2016, while the Weighted Index increased by 13.28%, and the KSX-15 recorded 11.29% growth.
Eight of Boursa Kuwait sectors ended last month in the green zone, while the other four recorded decreases. last month’s highest gainer was Insurance sector achieving 12.63% growth rate as its index closed at 1,174.19 points. Whereas, in the second place, the Consumer Goods sector’s index closed at 1,083.55 points recording 6.02% increase, followed by the Basic Materials sector’s index closed at 1,310.76 points recording 3.91% increase.
On the other hand, The Technology sector headed the losers list as its index declined by 13.65% to end the month’s activity at 607.02 points. The Health Care sector was second on the losers’ list, which index declined by 10.30%, closing at 1,510.51 points, followed by the Oil & Gas sector, as its index closed at 1,031.29 points at a loss of 4.70%.
The Financial Services sector dominated a total trade volume during the last month of 681.15 million shares changing hands, representing 39.30% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 20.95% of last month’s total trading volume, with a total of 363.07 million shares
On the other hand, the Banks sector’s stocks were the highest traded in terms of value; with a turnover of K.D. 113.89 million or 35.54% of last month’s total market trading value. The Telecommunications sector took the second place as the sector’s last month turnover of K.D. 65.67 million representing 20.49% of the total market trading value.