KSE witnesses positive week – Market capitalization up by 1.6 pct to KD 24.92 bln
This news has been read 6586 times!
KUWAIT CITY, March 4: The KSE indices all witnessed a positive week, as oil prices surge, the market closed at 5,244.00 up by a 1.34 percent. The MUDX Islamic Index was also up by 1.01 percent to close at 512.82 points. While the KSX15 which comprises of the market blue chips closed at 854.63 up 16.44 points.
Equities across the Middle East reacted edged up as fear over global economy ease; further; the Brent crude surged 12.5 percent compared to last week, currently trading at $36.71 per barrel.
The Weekly volumes reported 777.58 million shares compared to 539.53 million shares in previous week. Among the major contributors the Financial Services Sector (contributing 37.74 percent) witnessed 293.43 million shares of trading compared to 229.69 million shares in the previous week, while Real Estate Sector (contributing 27.33 percent) witnessed 212.49 million shares of trading compared to 133.20 million shares in the previous week.
Sectors with notable volumes included the Industrials sector, witnessed 47.32 million traded shares with an increase of 187.37 percent in volumes during the week. Counters like National Ranges Co. (Mcap — KD 5.18 million) witnessed 15.31 million shares in trading compared with 3.64 million shares the previous week, after postponing the date of the lawsuit hearing filed from against them.
The overall Market Cap was up by a 1.6 percent as it stood at KD 24.92 billion, the market saw a positive trend in the blue chips during the week. National Bank of Kuwait – NBK (Mcap — KD 3.72 billion) saw its market cap increase by 1.39 percent. While Mobile Telecommunication Co — Zain (Mcap — KD 1.61 billion) saw its market cap go surge 5.63 percent, and Burgan Bank (Mcap — KD 717.27 million) saw an increase of 4.48 percent in its market cap, we believe in anticipation of earning results for FY 15.
On the total market breadth, Of the 56 Islamic Companies, 34 advanced while 9 declined during the week.
The Islamic universe market cap witnessed a positive week to close at KD 6.26 billion an increase of 1.19 percent. The universe heavyweights like Kuwait Finance House — KFH (Mcap — KD 2.43 billion) remained unchanged during the week. While Boubyan Bank (Mcap — KD 825.30 million) saw an increase of 2.56 percent in its market cap.
By KFH Capital
This news has been read 6586 times!
