Kuwait bourse ends 2015 on weak note
This news has been read 5440 times!
| The KSE indices remained muted as we close in to the end of 2015. The markets closed at 5,615.12 down by a mere 4.86 points on a weekly basis. While the KSX15 which comprises of the market blue chips closed at 900.43 down 2.09 points. As it would be the concluding trading week for 2015 a brief comparison on how the indices have performed on yearly basis would be apt. |
2015 saw markets trading below the 6000 mark; the inception markets trading at 6,535.7 which translates to a yearly drop of 920.6 points (14.09%). Further; the KSX15 was no different as it shed 159.52 points on a yearly basis; KSX15 traded at 1,059.95 at the inception of 2015 thus translating it into a decline of 15.05%. Declining oil prices; regional & global political developments; the Fed hike; the Eurozone woes etc have been the general theme for the year.
The weekly volumes reported 607.57 million shares compared to 347.89 million shares in previous week. Most sectors recorded positive volumes with the exception of Health Care, Technology, Telecommunications, and Industrials. Although their sector contributions in total is about 6.46% respectively the upside was from heavy weight sector contributors like Financial Services (54.88%) and Real Estate (20.8%) with both reflecting positively with 107.63% and 31.4% increase respectively.
Note; the sharp rise in trading parameters is not analogous to previous week as previous trading week was shorter compared.
The overall Market Cap was up 0.2% as it stood at KD 26.14 billion nonethe less market blue chips were steady during the week. Mobile Telecommunication Co – Zain (Mcap – KD 1.48 billion) saw its market cap rise by 1.45 %; while Kuwait Food Company – Americana (Mcap – KD 795.16 million) was also up during the week rising by 1.01%. National Bank of Kuwait – NBK (Mcap – KD 4.03 billion) remained unchanged during the week.
On the total market breadth, of the 56 Islamic Companies, 18 advanced while 26 declined during the week.
The Islamic universe market cap declined to KD 6.75 billion was down by 1.21%. The universe heavyweights like Kuwait Finance House – KFH (Mcap – KD 2.57 billion) saw a decline of 1.36% when Boubyan Bank (Mcap – KD 907.83 million) witnessed an increase of 0.15%. While Ahli United Bank (Mcap – KD 834.69 million) saw its market cap increase by 0.24% during the week.
This news has been read 5440 times!
