Kuwait bourse rallies 3.12 pct during April

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The three stock market indicators were able to realize different gains for the third consecutive month, supported by the active purchasing operations that included many listed stocks, especially the small-cap ones, which witnessed good increases supported by the continued market quick speculations, which positively affected the Price Index in particular, the most increasing index by the end of the month; while the Weighted and KSX-15 indices received support from the random purchasing operations that concentrated on a number of leading stocks, which relatively enhanced its gains and pushed it to end the month’s trading in the green zone.

On the contrary, the red color was not absent from the three indices closings during the last month, whereas some daily sessions witnessed selling for profit operations, caused the three indicators to record some losses, however with small effect, where the market was able to resist and compensate such losses.

On the other hand, the traders’ are following with care the listed companies’ disclosures for the first quarter financial results of the current year, whereas many are watching for the completion of such results to define their investment priorities for the next period; and as far as the disclosed results, the number of companies that announced its data reached 36 company out of 187 listed company in the official market, representing 19.25 percent; and the total realized gains by such companies reached KD 256.79 million, increasing by 0.64 percent from the same companies’ results for the same period of last year, where it was KD 255.16 million.

Also, the market capitalization reached by the end of April around KD 23.62 billion, increasing by 2.64 percent compared to its level in March, where it was around KD 23.01 billion; on an annual level, the market cap for the listed companies in KSE declined by 7.17 percent from its value at end of 2015, where it was around KD 25.27 billion.

For the annual performance, the Price Index ended last month recording 3.98 percent annual loss compared to its closing in 2015, while the Weighted Index decreased by 4.04 percent, and the KSX-15 Index recorded 4.12 percent loss.

Sectors’ Indices

Ten of KSE’s sectors ended last month in the green zone, while the other two recorded declines. Last week’s highest gainer was the Health Care sector, achieving 8.88 percent growth rate as its index closed at 994 points. Whereas, in the second place, the Technology sector’s index closed at 968.30 points recording 6.98 percent increase. The Real Estate sector came in third as its index achieved 6.06 percent growth, ending the month at 871.84 points. The Consumer Services sector was the least growing as its index closed at 924.43 points with a 0.06 percent increase.

On the other hand, the Insurance sector headed the losers list as its index declined by 3.56 percent to end the month’s activity at 1,033.92 points. The Oil & Gas sector was second on the losers’ list, which index declined by 0.58 percent, closing at 782.54 points.

Sectors’ Activity

The Financial Services sector dominated total trade volume during last month with 1.48 billion shares changing hands, representing 37.65 percent of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 29.58 percent of last month’s total trading volume, with a total of 1.16 billion shares

On the other hand, the Banks sector’s stocks were the highest traded in terms of value; with a turnover of KD 80.32 million or 29.06 percent of last month’s total market trading value.

The Financial Services sector took the second place as the sector’s last month turnover of KD 71.80 million representing 25.98 percent of the total market trading value.

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