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KFH rallies 7 fils, Humansoft Holding dips
KUWAIT CITY, May 17: Kuwait stocks pulled higher on Monday as it reopened after a five-day break. The All Shares Index gave up steeper early gains to close 34.19 points down at 6,313.20 pts paced by some of the blue-chips and mid-caps even as the overall mood remained mixed.
The Premier Market rallied 47.35 points to 6,837.78 pts taking the month’s gains to 214 points while Main Market added 4.51 pts. The BK Main 50 was up 23.63 points at 5507.37 pts. The volume turnover meanwhile soared past the 500 million mark. Over 579 million shares changed hands – a 52 pct surge from the previous session.
All sectors, barring one, closed in green. Technology outshone the rest with 2.94 percent gain whereas Real Estate, the only loser, slipped 0.57 pct. Financial Services topped the volume with 242 million shares and Banking was ahead in value with 37.6 million shares.
Among the standouts, sector bellwether National Bank of Kuwait rallied 5 fils on back of 8.4 million shares to 837 fils while Kuwait Finance House scaled 7 fils with a volume of 14.4 million. Mezzan Holding jumped 26 fils to 680 fils and Boursa Kuwait Securities sprinted 42 fils. Kuwait Reinsurance Co darted 38 fils to 404 fils.
Zain inched 1 fils higher to 603 fils on back of over 4 million shares and Ooredoo paced 13 fils before settling at 655 fils. stc shed 13 fils whereas logistics major Agility sprinted 29 fils to KD 1.088 taking the month’s gains to 140 fils. KIPCO eased 1 fil to 156 fils and National Investment Co gave up 3 fils. Mabanee Co tripped 1 fil and Humansoft Holding slid 42 fils to KD 3.600.
National Industries Group climbed 10 fils to 235 fils on back of over 16 million shares and Gulf Cable gained 11 fils. Boubyan Petrochemical Co slipped 7 fils to 918 fils partly erasing last session’s gains while Al Qurain Petrochemical Co added 3 fils. Jazeera Airways scaled 18 fils before closing at 699 fils whereas ALAFCO clipped 2 fils after pushing 2.3 million shares.
The market opened firm and rose sharply in early trade. The main index scaled the day’s highest level of 6,350 points almost an hour into the session and drifted lower. It continued to retreat amid selling in some of the counters and closed with moderate gains.
Top gainer of the day, AAN rallied 11 pct to 14.1 fils and Kuwait Real Estate Co climbed 10.38 percent to stand close behind. Munshaat Real Estate skidded 12.72 percent, the steepest decliner of the day and KPPC topped the volume with 56.3 million.
In the banking sector, Gulf Bank fell 4 fils to 222 fils after moving 23.7 million shares while Kuwait International Bank dialed up 2 fils with a volume of 7.2 million. Burgan Bank was unchanged at 229 fils whereas Boubyan Bank closed 3 fils in red.
Warba Bank rose 3 fils to 256 fils on back of 5.6 million shares and Ahli United Bank BSC followed suit to end at 226 fils with a volume of 37.8 million. Commercial Bank and Al Ahli Bank paused at 500 fils and 205 fils whereas Ahli United Bank Kuwait was up 3 fils at 292 fils.
Kuwait Investment Co dropped 5 fils to 190 fils and Commercial Facilities paced 17 fils on back of 2.2 million shares. Al Imtiaz Investment dialed up 2 fils whereas International Financial Advisors took in 1 fils with brisk trading. The Securities House added 1.3 fils and Arzan Financial Group gained 5 fils. First Investment Co closed 1.3 fils in red.
Kuwait Financial Centre (Markaz) fell 3 fils to 136 fils whereas KMEFIC took in 1 fils. Gulf Investment House inched 1 fils higher whereas Aayan Leasing and Investment Co shed 13 fils after pushing 10.3 million shares. Bayan Investment ticked 0.2 fil into green whereas Osoul Investment gave up 4.3 fils.
Noor Financial Investment Co erased 4 fils after trading 2.2 million shares while Tamdeen Investment Co slipped 8 fils to 255 fils. KFIC was up 4 fils at 123 fils and KAMCO dialed down 1 fils. Gulf Insurance Group shed 13 fils and Al Ahleia Insurance Co gave up 10 fils. Unicap Investment fell 1.9 fils to 72.8 fils.
Kuwait Cement Co rose 3 fils to 255 fils while Kuwait Portland Cement scaled 9 fils. Shuaiba Industrial fell 4 fils to 185 fils whereas Metal and Recycling Co gained 4 fils. HEISC slipped 13 fils to 467 fils and ACICO Industries gained 6 fils on back of 2.4 million shares. Kuwait National Cinema Co jumped 28 fils to 978 fils.
The market was upbeat during the previous holiday curtailed week. It closed higher in two of the three sessions gaining 27 points week-on-week. It had rallied 199 points from start of the month and is up 750 points year-to-date.
By John Mathews
Arab Times Staff