KSE price index posts weekly decline – Market capitalization drops 1 pct to KD 24.87 billion
This news has been read 6441 times!
KUWAIT CITY, May 6: This has not been a positive week for the indices. As KSE price index closed down 0.35 percent, 5,373.17 down 18.64 points compared to the week before. As for the MUDX it also decreased 1.10 percent to close at 523.87 for the week down 5.85 points. KSE Weighted was also down decreasing 3.67 points to close at 362.61 down 1 percent to the previous week .While the market blue-chip index the KSX15 witnessed a decrease of 9.98 points to close at 853.35 down 1.16 percent. Stock markets in the Gulf traded with a weak bias after oil prices slipped again and global markets pulled back because of concern about lackluster growth and creeping deflation. Brent crude oil witnessed a decrease to reach $45.03.
The reported weekly volumes were 498.82 million shares compared to 802.80 million shares in previous week a decrease of 37.9 percent in share trading. Among the major contributors again the Financial Services Sector (contributing 39.34 percent) witnessed 196.12 million shares of trading compared to 318.28 million shares in the previous week down 38.38 percent on a weekly basis, while Real Estate Sector (contributing 22.32 percent) witnessed 111.29 million shares of trading compared to 257.04 million shares in the previous week was also down 56.70 percent on a weekly basis.
The overall Market Cap was down by 1 percent as it stood at KD 24.87 billion. As for The Blue Chips National Bank of Kuwait — NBK (Mcap — KD 3.54 billion) saw its market cap stable for the week. Moreover; Kuwait Food Co — Americana (Mcap — KD 964.80 million) saw its market cap move down by 0.83 percent.While Kuwait Projects Co- KIPCO (Mcap — KD 795.72 million) saw its market cap decrease by 1.82 percent.
On a positive not Human Soft Holding Co — HUMANSOFT (Mcap — KD 129.57 million) saw an increase of 13.98 percent following three weeks of above average gains.to join was The Energy House Co — ENERGYH (Mcap — KD 41.25 million) up 27.91 percent on a weekly basis having published positive financial result.
On the total market breadth, of the 56 Islamic Companies, 18 advanced while 20 declined during the week.
The Islamic universe market cap witnessed a an decrease of 1.29 percent in its market cap to close at KD 6.42 billion. The universe heavyweights like Kuwait Finance House — KFH (Mcap — KD 2.40 billion) saw a decrease of 2.04 percent in its market cap.
While Boubyan Bank (Mcap — KD 877.40 million) also saw a decrease of 2.41 percent in its market cap Ahli United Bank — AUB (Mcap — KD 727.59 million) was stable during the week. Kuwait Telecommunications Co (Mcap- KD 494.41 million) was down 2.94 percent.
By KFH Capital
This news has been read 6441 times!
