Kuwait bourse closes week with small gain

This news has been read 11815 times!

KFH adds 4 fils, Humansoft Holding dips

By John Mathews Arab Times Staff KUWAIT CITY, Sept 13: Kuwait stocks headed north on Thursday to wind up the week on a positive note. The All Shares Index climbed 13.19 points in choppy session to 5,139.56 pts paced Kuwait National Cinema Co and banking shares even as the broader sentiment remained mixed.

The Premier Market climbed 19.12 points to 5,348.79 points taking the month’s gains to 87 points while Main Market added 2.38 points to close at 4,759.29 pts. The volume turnover meanwhile dipped from Wednesday’s two-week high. Over 87 million shares changed hands – down 21 pct from the day before. The sectors closed mixed. Consumer services outshone the rest with 2.28 pct gain whereas basic materials slipped 0.58 percent, the worst performer of the day.

Volume wise, financial services accounted for the highest market share of 44.4 percent and banks trailed with 29 percent contribution. Among the prime movers, Kuwait National Cinema Co recouped last session’s losses with 99 fils jump to KD 1.010 and Kuwait Portland Cement climbed 18 fils.

Kuwait Finance House rose 4 fils on back of 4.5 million shares and Gulf Bank was up 6 fils at 246 fils. Zain ticked 1 fil higher to 477 fils with a volume of 1.8 million and Ooredoo gave up 4 fils taking the month’s losses to 24 fils. Kuwait Telecommunications Co (VIVA) dialed up 2 fils before ending at 719 fils and Agility was down 10 fils at 864 fils.

The market opened weak and pulled higher in early trade. The main index moved sideways amid small gains and losses and slipped to day’s lowest level of 5,128 pts half way into the session. It revved thereafter to peak at 5,145 points before paring back some of the gains at close.

Top gainer of the day, Tahssilat jumped 22 fils to 12.82 fils and Kuwait National Cinema Co rallied 10.4 percent to stand next. Warba Insurance Co slumped 14.4 pct, the steepest decliner of the day and Aayan topped the volume with over 26 million shares.

Mirroring the day’s gains, the winners outnumbered the losers. 53 stocks advanced whereas 42 closed lower.

Of the 120 counters active on Thursday, 25 closed flat. 4,292 deals worth KD 15.8 million were transacted – down 31 percent in value from the day before.

National Industries Group was unchanged at 165 fils after trading 1.4 million shares and Mezzan Holding too did not budge from its earlier close of 700 fils. Boubyan Petrochemical Co dipped 11 fils to KD 1.069 and Al Qurain Petrochemical Co stood pat at 331 fils. Jazeera Airways fell 2 fils to 747 fils and ALAFCO ticked 1 fil higher to 334 fils. Heavy Engineering Industries and Shipbuilding Co shed 22 fils and Equipment Holding Co tripped 1.8 fils.

IFA Hotels and Resorts was fl at at 93 fils. NAPESCO slipped 5 fils to 800 fils and Gulf Cable took in 1 fil. The company has posted 382.6% leap in second quarter profits to KD 5.26 million and during the first six months the earnings rose 7.7 percent to KD 6.58 million.

Humansoft Holding tumbled 51 fils KD 3.289 extending last session’s losses and ACICO Industries climbed 9 fils to 219 fils. KCPC inched 1 fil higher and KPPC rose 4 fils to 56 fils. Independent Petroleum Group was fl at at 420 fils and Combined Group Contracting Co followed suit.

Down
Yiaco Medical dipped 13 fils to 123 fils and Al Rai Media Group was down 5.5 fils at 61.5 fils. Inovest took in 0.5 fil and OSOS climbed 6.8 fils to 97.4 fils. Kuwait and Gulf Links Transport Co dialed up 2.2 fils and KGL Logistics paused at 43 fils.

In the banking sector, National Bank of Kuwait ticked 1 fil up to 830 fils on back of 3.4 million shares while Kuwait International Bank and Burgan Bank added 3 fils each to close at 245 fils and 256 fils respectively. Boubyan Bank was unchanged at 558 fils.

Al Ahli Bank dialed up 2 fils and Al Mutahed ticked 1 fil into green. Warba Bank trimmed 1 fil and Ahli United Bank was up 3 fils at 204 fils. Commercial Bank was not traded during the session. KIPCO and Gulf Finance House were unchanged at 223 fils and 102 fils respectively whereas International Financial Advisors trimmed 0.2 fil. Kuwait Investment Co dialed up 1 fil and Coast Investment Co inched 0.1 fil higher.

Securities House added 0.7 fil to end at 50 fils. KAMCO rose 4 fils to 66 fils while Bayan Investment and Al Mal Investment stood pat at 50 fils and 17.7 fils respectively. Osoul Investment fell 2.9 fils to 52.1 fils and KMEFIC gave up 1.4 fils. Noor Financial Investment Co and Al Imtiaz were unchanged at 52.2 fils and 125 fils respectively whereas Kuwait Financial Centre (Markaz) gained 6 fils. Unicap paused at 60 fils and Ekttitab Holding too did not budge from its earlier close of 25.5 fils.

Mabanee Co took in 1 fil whereas United Real Estate and Salhiya Real Estate held ground at 65 fils and 329 fils respectively. Mazaya Holding clipped 2.6 fils and National Real Estate trimmed 1 fil. The market has been mixed during the week. The main index closed lower in three of the five sessions shedding 10 pts week-on-week and is up 7 points from start of the month. Boursa Kuwait, with 176 listed stocks, is the second largest market in the region.

This news has been read 11815 times!

Related Articles

Back to top button

Advt Blocker Detected

Kindly disable the Ad blocker

Verified by MonsterInsights