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KSE price index ends in green zone last week – By Bayan Investment


Kuwait Stock Exchange (KSE) ended last week in the green zone. The Price Index closed at 5,499.72 points, up by 0.74% from the week before closing, the Weighted Index increased by 1% after closing at 353.43 points, whereas the KSX-15 Index closed at 817.63 points up by 0.70%.

Furthermore, last week’s average daily turnover increased by 4.61%, compared to the preceding week, reaching KD 6.42 million, whereas trading volume average was 74.83 million shares, recording an increase of 36.19%.

The three stock market indices closed in the green zone, as the market received noticeable support from the increased purchasing operations executed on many small-cap and leading stocks, especially the ones that disclosed positive results for the second quarter of the current year. Also, the market benefited from the quick speculative operations that were present during most of the daily sessions of the week, as such speculation continued its control over the small-cap stocks’ performance, which positively reflected on the Price Index that was able to realize good gains since the first session of the week, before the profit collection operations arise and limit its gains on the last trading session.

As per the KSE daily trading activity, the three indices were able to realize good gains in the first session of the week despite the negative start that it initiated the session with, where the first half of it witnessed a decline in the three indices performance affected by the selling operations that included a wide range of stocks, before the market witnesses a purchasing activity in the second half as a result to the positive announcements disclosed by some listed companies, in addition to the quick speculative operations that were present too, which pushed the three indices to end the session in the green zone.

Furthermore, the market witnessed in the second session of the week an increased purchasing operations on the leading stocks and a continued speculative trading on the small-cap stocks, which enabled it to enhance its three indices’ gains noticeably.

However on the mid-week session, the market witnessed a mixed closing for the three indices, as the Price Index decreased affected by the profit collection operations that included some small-cap stocks of previous good increases, while the Weighted and KSX- 15 indices continued to increase in light of the continued purchasing operations that concentrated on some leading stocks, especially in the Banks Sector.

The stock market indices continued its fluctuation in the next session with changing positions however, as the Price Index was able to return to the green zone with the return of the speculative operations to control over the small-cap stocks, while the profit collection operations that concentrated on the heavy stocks pushed the Weighted and KSX- 15 indices to close in the red zone.

The last session of the week witnessed a decline to the Price Index and an increase to the two other indices, and in parallel with a drop in the trading activity compared to the previous session, especially the value that declined by around 36%.

By the end of last week, the market capitalization reached KD 23.70 billion, up by 1.03% compared to its level in a week earlier, where it reached then KD 23.46 billion. On an annual level, the market cap for the listed companies in KSE decreased by 6.19% from its value at end of 2015, where it reached then KD 25.27 billion. As far as KSE annual performance, the price index ended last week recording 2.06% annual loss compared to its closing in 2015, while the weighted index decreased by 7.41%, and the KSX-15 recorded 9.20% loss.

Sectors’ Indices
Seven of KSE’s sectors ended last week in the green zone, four recorded declines, whereas the Health sector’s index closed with no change from the week before. Last week’s highest gainer was the Consumer Goods sector, achieving 2.61% growth rate as its index closed at 1,229.89 points.

Whereas, in the second place, the Industrial sector’s index closed at 1,163.58 points recording 2.24% increase. The Basic Materials sector came in third as its index achieved 2.22% growth, ending the week at 974.07 points.

On the other hand, the Technology sector headed the losers list as its index declined by 2.23% to end the week’s activity at 971.54 points. The Insurance sector was second on the losers’ list, which index declined by 2.09%, closing at 992.55 points, followed by the Real Estate sector, as its index closed at 835.81 points at a loss of 0.14%.

Sectors’ Activity
The Financial Services sector dominated a total trade volume of around 169.64 million shares changing hands during last week, representing 45.34% of the total market trading volume. The Banks sector was second in terms of trading volume as the sector’s traded shares were 16.68% of last week’s total trading volume, with a total of around 62.43 million shares.

On the other hand, the Financial Services sector’s stocks were the highest traded in terms of value; with a turnover of around KD 9.07 million or 28.26% of last week’s total market trading value. The Banks sector took the second place as the sector’s last week turnover was approx KD 7.66 million representing 23.86% of the total market trading value.

For further details, please visit our web site: www.bayaninvest.com

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