KSE index ends in red zone to close at 5,633.28 points – Oil and gas sector plunges to 788.5 points

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KUWAIT CITY, Dec 13: Kuwait stocks plunged 52.87 points in the red to stand at 5,854.99 points at the start of the week as low risk attitudes prevailed.  The weighted index pulled 1.11 points lower to stand at 384.89 points.

The KSE 15 benchmark trudged 1.45 points upwards to close at 916.25 points in the green. 2,748 transactions were carried out in the Sunday session with KD 10.07 million traded in value for a 90.98 million share turnover.

The bourse dipped below the line in early trade, staggering to lift and continued its gradual decline midday with a further slippage in the final hour. Of the 127 active counters, the losers outnumbered the winners from 78 to 22 while the remaining 27 closed flat.

Yiaco Medical Co was the top gainer of the day, expanding by 7.25% in share price to close at 148 fils while OSOUL Investment Co followed in close step with a 6.25% augment to 42.5 fils in the green. Gulf Glass Manufacturing Co also moved higher with a 6% increase in share price to 530 fils and Al Ahleia Insurance Co logged a 5.88% positive change to 450 fils. At the same time, Kout Food Group closed at 740 fils with a 5.71% rise.


Kuwait Cable Vision, on the hand, took a hard 9.09% tumble to 25 fils with minimal volume traded as Burgan company for well drilling, trading & Maintenance shed 8.33% of its share price to close at 110 fils. Tameer Real Estate Investment Co took a 8% nose dive to 23 fils while Housing Finance Co and Zima Holding Co marked a 7.94% contraction to 29 fils and 116 fils respectively.

Al Dar National Real Estate Co traded the top volume of 9.58 million shares in the session with Al-Madina For Finance And Investment Co following with a 6.53 million share tally. Concurrently, Investors Holding Group Company exchanged 6.31 million shares while Gulf Petroleum Investment and Kuwait Real Estate Co saw robust activity of 4.59 million and 4.48 million shares traded.

The telecommunications sector closed at 628.74 points skimming slightly below the line. Viva jumped 20 points higher to as KD 1.100 close trading a robust 1.56 million shares for a value of KD 1.68 million on the floor. Ooredoo on the other hand, endured a 20 point cut to KD 1.040 with low activity. Zain slipped 5 points under to 355 fils, trading 2.2 million shares in volume while Hits Telecom Holding Co inched 1.5 points down to 27.5.


Banks closed at 909.2, down by 0.52% with drops in volume and value traded. The sector made up for 6.15% of the total market volume and 24.88% of the total value. National Bank of Kuwait held firm at 810 fils while Boubyan Bank noted a 5 point increase to 440 fils.

Meanwhile Gulf Bank and Commercial Bank of Kuwait closed flat at 275 fils and 500 fils respectively. Ithmaar Bank eased 1.5 points down to 43.5 fils while Kuwait International Bank and Burgan Bank remained stable at 222 fils and 380 fils respectively. Warba Bank dipped 6 points lower to 198 fils while Kuwait Finance House stood firm at 550 fils trading 2.24 million shares in the session.

The financial services index stood at 603.6 points with a 1.15% drop, making up 28.21 % of total volume and 10.45% of the total value on the trading floor. Al-Madina For Finance And Investment Co conceded 2/5 points of its share to finish at 36 fils while trading 6.5 million shares on the floor while GFH Financial Group picked up 0.5 points for a 33 fils close in the green. Meanwhile Kuwait Projects Company stagnated at 580 fils, logging no change from the previous session while Al-Salam Group Holding Co and The Securities House dived 2.5 points lower to 34 fils and 40.5 fils respectively.

Real Estate closed at 933.7 points marking a 1.985 downturn. Al Dar National Real Estate Co scaled 2 points lower to 27.5 fils while Kuwait Real Estate Co and Investors Holding Group Company shed 1 point to close ar 58 fils and 24.5 fils respectively. Meanwhile, Mabanee Company closed flat at 930 fils and Abyaar Real Estate Development Co stepped 1 point down to 28.5 fils.

Oil and gas marked a 0.97% decrease to 788.5 points with marked increases in volume traded from last week’s close. Gulf Petroleum Investment took a 2 point downturn to 54 fils while Al-Safat Energy Holding inched 0.5 points lower to 13.5 fils. Ikarus Petroleum Industries Co closed flat at 91 fils while Burgan Company For Well Drilling, Trading & Maintenance made a 10 point retreat to 110 fils. While The Energy House Holding Company eased 0.5 points lower to 43.5, National Petroleum Services Company took a 10 point hike for a 610 fils share price.

The industrials sector closed at 1,053.3, down by 0.77. Agility Public Warehousing Company closed flat at 500 fils while National Ranges Company eased 1 point lower to 20 fils. Aviation Lease And Finance Co, meanwhile, fell 2 points lower to 212 fils and Mushrif Trading & Contracting Co logged a 3 point slash in price to 68 fils. Mubarrad Transport Co stood stale at 212 fils.

In Consumer goods, Mezzan Holding Co stood its ground at KD 1.140 while Danah Al Safat Foodstuff Company trudged 3  points lower to 84 fils. Livestock Transport & Trading Co ebbed 6 points down to 132 fils while Kuwait Food Company (Americana) made a significant 80 point leap to KD 2.180. In Consumer Services, Al Rai Media Group Company moved up 8 points higher to 150 fils while Zima Holding Co trailed 10 points down to 116 fils. At the same time, Kuwait Resorts Company clambered 1 points upwards to 98 fils.

In Basic Materials, Qurain Petrochemical Industries Company climbed 2 points up to 188 fils while Boubyan Petrochemical Company took a 35 point hard fall to 495 fils. In the insurance sector, Kuwait Insurance Company shifted 5 points below to 305 fils while Al Ahleia Insurance Co scaled 25 points higher to 450 fils.

By Cinatra Fernandes

Arab Times Staff

This news has been read 6454 times!

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