Kuwait market closes year with small gains

This news has been read 25564 times!

Agility rallies 9 fils; Ooredoo dips

KUWAIT CITY, Dec 31: Kuwait stocks edged higher on Monday to end the year on a slightly positive note. The All Shares Index rose 6.96 pts in volatile session to 5,079.56 points helped by some of the mid-caps even as the overall mood remained fickle.

The Prime Market added 2.37 points trimming the year’s losses to 50 pts while Main Market climbed 15.42 pts to 4,738.56 points. The volume turnover meanwhile jumped to hit month’s second highest level.

Over 140 million shares changed hands – a 39.7 pct surge from the day before. The sectors closed in both directions. Consumer services outshone the rest with 1.9 pct gain whereas oil and has shed 1.29 percent, the biggest loser of the day.

Volume wise, financial services accounted for the highest market share of 47 percent and real estate trailed with 22 pct contribution.

Among the standout performers, Humansoft Holding climbed 30 fils to KD 3.280 and Kuwait Cement Co gained 19 fils. NICBM scaled 16 fils before ending at 200 fils and IFA Hotels and Resorts sprinted 14 fils. Zain dialed up 2 fils to end at 449 fils with a volume of 2.6 million and Ooredoo was down 6 fils at 714 fils. Kuwait Telecommunications Co (VIVA) fell 3 fils to 800 fils and Agility rallied 9 fils on back of over 1 million shares.

The market opened flat and edged lower in early trade. The main index seesawed thereafter between small gains and plumbed the day’s lowest level of 5,068 pts ahead of the midsession. It continued to vacillate in the second half and closed marginally in green.

Top gainer of the day, IFA Hotels and Resorts soared 18.6 pct to 89 fils and Noor Financial Investment Co soared 18.67 pct to stand next. First Takaful Insurance Co skidded 10 pct , the biggest loser of the day and Aayan topped the volume with over 30 million shares. Refl ecting the day’s uptick, the winners slightly outnumbered the losers. 59 stocks advanced whereas 57 closed lower.

Of the 131 counters active on Monday, 15 closed fl at. 4,716 deals worth KD 17.95 million were transacted – a 26.7 percent jump in value from the day before. National Industries Group took in 1 fil on back of over 1 million shares and Mezzan Holding followed suit to end at 500 fils.

Boubyan Petrochemical Co slipped 4 fils to 975 fils and Al Qurain Petrochemical Co scaled 5 fils. ACICO Industries gave up 3 fils to end at 167 fils. Jazeera Airways rose 5 fils to 730 fils partly recouping Sunday’s drop while ALAFCO ticked 1 fil up. Heavy Engineering Industries and Shipbuilding Co gained 7 fils and Equipment Holding Co dialed up 1 fil. Independent Petroleum Group dipped 14 fils to 401 fils with thin trading.

Kuwait Portland Cement dropped 11 fils to KD 1.138 while Kuwait National Cinema Co extended Sunday’s gains with 4 fils rise to KD 1.069. Combined Group Contracting Co gave up 3 fils and OSOS took in 1 fil. EK Holding stood pat at 325 fils. Kuwait Foundry Co dialed up 2 fils and Mashaer Holding added 2.7 fils. Inovest slipped 4 fils to 80 fils and SPEC ripped 2.7 fils before settling at 68.3 fils.

Al Rai Media Group inched 1 fil into red and Midan skidded 20 fils to KD 1.200. Kuwait and Gulf Links Transport Co edged 0.7 fil higher to 95.7 fils and KGL Logistics trimmed 0.2 fil. KPPC clipped 1.2 fils and KCPC took in 1 fil. Amar Finance was down 3.1 fils at 41 fils.

In the banking sector, National Bank of Kuwait dialed up 1 fil on back of 2.9 million shares and Gulf Bank fell 2 fils to 252 fils after trading 3.8 million shares. Kuwait International Bank stood pat at 264 fils and Burgan Bank too did not budge from its earlier close of 278 fils .

Eased
Kuwait Finance House eased 1 fil to 611 fils whereas Warba Bank and Ahli United Bank dialed up 1 fil each. Boubyan Bank tripped 1 fil and Al Mutahed followed suit. Commercial Bank and Al Ahli Bank were not traded during the session. KIPCO fell 1 fil to 208 fils and Gulf Finance House added 1.8 fils to end at 208 fils. Kuwait Investment Co and FACIL paused at 130 fils and 175 fils respectively whereas International Financial Advisors inched 0.4 fil higher.

Coast Investment Co edged 0.7 fil in green. Kuwait Financial Centre (Markaz) was unchanged at 100 fils while KMEFIC and Bayan Investment took in 0.1 fil each to close at 32 fils and 48.3 fils. Al Mal Investment trimmed 0.9 fil and Osoul Investment added 2,5 fils. KFIC clipped 0.2 fil and Securities House Co edged 0.6 fil higher. Al Deera Holding dialed up 1.1 fils and Sokouk Holding clipped 0.4 fil. Al Imtiaz held ground at 134 fils and National Investment Co tripped 0.5 fil. Unicap ticked 0.2 fil higher.

Gulf Insurance Co fell 3 fils to 655 fils and Warba Insurance Co gave up 5.8 fils. Mabanee Co skidded 19 fils to 606 fils whereas Tamdeen Real Estate scaled 5 fils. Al Aqaria and Mena Holding 1.5 fils each whereas Salhiya Real Estate was up 3 fils at 330 fils. National Real Estate Co dialed up 1 fil.

The bourse has been ticking higher so far during the week gaining 8 pts in last two sessions and has skidded 70 pts during whole of the month. Boursa Kuwait, with 176 listed stocks, is the second largest market in the region.

By John Mathews Arab Times Staff

This news has been read 25564 times!

Related Articles

Back to top button

Advt Blocker Detected

Kindly disable the Ad blocker

Verified by MonsterInsights