KUWAIT CITY, Feb 4: Kuwait stocks saw solid rebound on Thursday to end the week on a buoyant note. The bourse surged 79.53 points in a broad rally to 5198.37 points helped by brisk buying in banks and other blue chips. The market mood was markedly positive  amid uptick in crude oil prices.

The KSX 15 benchmark jumped 23.03 pts to 840.55 points trimming the year’s losses to 44 points while weighted index climbed 7.73 pts. The volume turnover meanwhile soared past the 200 million mark after hitting week’s lowest level in the last session . 232.58 million shares changed hands – a 117.56 pct rebound from Wednesday.

The sectors meanwhile mostly closed in the positive territory. Technology outpaced the rest with 3.19 pct gain whereas healthcare stood pat. Volumewise, financial services notched the highest market share of 32.02 pct while real estate stood next with 23.4 percent. Banking sector was a distant third with 19.34 pct.

Among the stand out performers, sector bellwether National Bank of Kuwait rallied 30 fils to KD 0.720 on back of 4.4 million shares and Kuwait Finance House climbed 10 fils with heavy trading to KD 0.500. Investment conglomerate KIPCO too was up 10 fils at KD 0.550 recouping the loss in last session.

Zain rallied 15 fils to KD 0.365 with a volume of 4.4 million while Wataniya Telecom (Ooredoo) jumped 40 fils to KD 1.140. Kuwait Telecommunications Co (VIVA) rose 10 fils to KD 0.920 and logistics major Agility followed suit to wind up at KD 0.435.

Kuwait Food Co (Americana) vaulted 100 fils and RISCO gained 25 fils. The bank has logged a net profit of KD 3.76 million and earnings per share of 40.53 fils during whole of 2015 , up from net profit of KD 3.14 million and earnings per share of 33.82 fils in the same period last year .

The BOD has recommended 20% cash dividends and 7% bonus shares.

The market opened strong amid broad buying interest but moved sideways in early trade. It continued to drift in a tight range before edging slightly higher to peak at 5199.78 points in the final minutes and closed with impressive gains.

Top gainer of the day, Taamer Holding Co spiked 13.16 pct to 21.5 fils and Kuwait Syrian Holding Co climbed 11.36 pct to stand close behind. Kout Food slid 5.17 percent, the steepest decliner of the day and Ithmaar Holding topped the volume with 21.56 million shares.

Mirroring the day’s surge, the market spread was heavily skewed towards the winners. 93 stocks advanced whereas 18 closed lower. Of the 137 counters active on Thursday, 26 closed flat. 5076 deals worth KD 20.7 million were transacted – a 94.7 pct spike from the day before.

National Industries Group, the flagship company of the Kharafi Group, rose 6 fils on back of over 3 million shares and Gulf Cable advanced 25 fils. Kuwait Portland Cement was unchanged at KD 1.020 whereas Kuwait Foundry Co was up 10 fils at KD 0.220.

Clipped

Jazeera Airways gained 20 fils whereas ALAFCO clipped 2 fils to settle at 182 fls. Kuwait and Gulf Link Transport Co took in 2 fils and KGL Logistics Co was up by same measure. Zima Holding added 6 fils whereas Kuwait United Poultry Co gave up 6 fils with thin trading.

Equipment Holding Co was unchanged at 53 fils and ACICO Industries Co followed suit. The company has won the approval from Capital Markets Authority for its request to buy back or sell up to 10% of own shares over a period of 6 months.

The Energy House took in 2.5 fils and Osos Holding Group Co climbed 5 fils to 84 fils. Boubyan Petrochemicals Co added 5 fils and Mezzan Holding jumped 40 fils to KD 1.060. Educational Holding Group closed 4 fils up at KD 0.210.

In the banking sector, Commercial Bank of Kuwait dropped 10 fils to KD

0.500 whereas Gulf Bank and Al Ahli Bank held steady at KD 0.210 and KD 0.355 respectively. Ahli United Bank added 5 fils to end at KD 0.450 and Burgan Bank climbed 10 fils to KD 0.400 taking the year’s gains to 25 fils. Kuwait International Bank stood pat at 200 fils.

Warba Bank rallied 6 fils with brisk trading and Boubyan Bank closed 10 fils higher. The bank has recorded a net profit KD 35.23 million and earnings per share of 17.09 fils in the year ending Dec 31, 2015 and the Board of Directors has recommended 5 pct cash dividends and 5 percent bonus shares.

Commercial Facilities Co fell 4 fils to KD 0.152 whereas International Financial Advisors took in 1.5 fls with a volume of 3.6 million. Securities House Co and KMEFIC were up 2 fils each and Bayan Investment nudged 1.5 fils up.

National Real Estate Co and Salhia Real Estate Co were flat at 89 fils and 355 fils respectively and Mabanee Co jumped 40 fils to KD 0.930. REal Estate Asset Management Co was up 10 fils at 158 fils.

The market has been upbeat during the week. The index closed higher in 3 of the 5 sessions and soared 188 points week-on-week.  It had slid 91 points from start of the month and is down 7.4 pct year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region.

In the bourse related news , Aqar Real Estate Investments Co. has registered a net profit of KD 2.49 million and earnings per share of 11.07 fils during 2015 as against net profit of KD 2.24 million and earnings per share of 9.81 fils in the year before. Board of Directors recommended 6% cash dividends.

Ajial Real Estate and Enter. Company has logged a net profit of KD 760,291 and earnings per share of 4.33 fils in the year ended Dec 31, 2015 up from net profit of KD 636,393 and earnings per share of 3.63 fils in 2014.

Injazzat Real Estate Developement Company has clocked a net profit KD

3.07 million and earnings per share of 9.2 fils in 2015, rising sharply from net profit of KD 1.51 million and earnings per share of 4.5 fils in the same period last year . The BOD has recommended 5 pct cash dividends.

Al-Mowasat Health Care Co has posted a net profit of KD 3.34 million and earnings per share of 32.89 fils in the year ending Dec 31, 2015 as against net profit of KD 2.005 million and earnings per share of 19.73 fils in the same period last year. The Board of Directors has recommended 15% cash dividend.

Al-Enmaa Real Estate Co has posted a net profit of KD 4.38 million and earnings per share of 9.73 fils for the year ending Dec 31, 2015 as compared to net profit of KD 3.36 million earnings per share of 7.47 fils in the year before .