KUWAIT CITY, May 9: Kuwait stocks closed lower on Monday, extending the losses to third consecutive session. The bourse swung between moderate gains and losses before winding up 6.45 pts down at 5,364.23 points. The banks were mostly muted while other heavyweights close mixed even as investors kept a wary eye on the oil prices.

The KSX 15 benchmark rose 0.76 pts to 852.56 points and is down 10 points from start of the month while weighted index edged 0.29 pts into red. The volume turnover meanwhile rebounded after plumbing to multi-month lows in the last two sessions. 98.43 million shares changed hands — a 16.9 pct rise from Sunday.

The sectors closed mixed. Technology outshone the rest with 2.64 percent gain whereas financial services shed 0.94 percent, the biggest loser of the day. In terms of volume, financial services accounted for the highest market share of 35.45 percent while real estate and industrials trailed with 21.20 percent and 10.6 pct contributions.

In the individuals shares, Kuwait Food Co (Americana) slid 40 fils to KD 2.360 taking the month’s losses to 80 fils while Humansoft Holding was down 20 fils to KD 1.060 erasing the gains on Sunday. Mabanee Co gave up 10 fils to settle at KD 0.840.

Zain rose 5 fils to KD 0.350 on back of 1.8 million shares whereas Watanya Telecom (Ooredoo) slid 40 fils to KD 1.100. Kuwait Telecommunications Co (VIVA) was unchanged at KD 0.990 off early highs while Agility stood pat at KD 0.500 after trading over 8 million shares.

National Bank of Kuwait was unchanged at KD 0.670 with a volume of 1.2 million and Kuwait Finance House too did not budge from its earlier close of KD 0.480. The bank has logged a first quarter net profit of KD 34.10 million and earnings per share of 6.61 fils.

The market opened firm and ticked up in early trade. The price index hit the day’s highest level of 5,386.64 pts and retreated thereafter as sentiment turned weak. It slipped below the red and plumbed the day’s lowest level of 5,345.55 points before clawing back most of the losses at close.

Top gainer of the day, NCCI spiked 25 pct to 12.5 fils while Kuwait National Cinema Co rallied 9 percent to stand next. Energy House Co plunged 8.33 percent , the steepest decliner of the day and Coast topped the volume with 8.7 million shares.

Reflecting the day’s downtick, the losers outnumbered the winners. 27 stocks advanced whereas 51 closed lower. Of the 127 counters active on Monday, 49 closed flat. 2,705 deals worth over KD 13 million were transacted — a 96 pct surge in value from the day before.

National Industries Group was up from early lows to close unchanged at 124 fils and Gulf Cable followed suit to end at 370 fils. Kuwait Cement Co shed 20 fils whereas Boubyan Petrochemical Co climbed 20 fils to KD 0.540. ACICO Industries was flat at 295 fils.

Jazeera Airways was unchanged at KD 0.870 whereas ALAFCO rose 6 fils to 212 fils. Jazeera has reported a net profit of over KD 4 million and earnings per share of 20.05 fils in the quarter ending March 1, 2016.

Paused

Kuwait Foundry Co paused at 194 fils whereas City Group Co gained 20 fils. The company has registered a net profit of KD 1.84 million and earnings per share of 16.35 fils in the January-March period of 2016 as compared with net profit of KD 1.64 million and earnings per share of 14.57 fils in Q1 of 2015.

Kuwait and Gulf Link Transport Co eased 1 fil to 46 fils and KGL Logistics Co followed suit. NAPESCO and Zima Holding stood pat at KD 0.730 and 43 fils respectively whereas Yiaco Medical added 10 fils to settle at 182 fils.

Equipment Holding Co stagnated at 54 fils and Mezzan Holding Co tanked 100 fls. The company has reported a net profit of KD 5.19 million and earnings per share of 16.68 fils in the quarter ending March 31, 2016 as against net profit of KD 5.45 million and earnings per share of 17.52 fils in the same period last year.

Qurain Petrochemical Industries Co and Gulf Petroleum Investment Co were flat at 212 fils and 42 fils respectively while Gulf Glass Manufacturing Co dropped 25 fils. Mashaer Holding gave up 2 fils whereas Salbookh Trading Co inched 1 fil lower.

In the banking sector, Gulf Bank was flat at 238 fils and Commercial Bank was up 5 fils at KD 0.430. Al Ahli Bank stood pat at 335 fils and Ahli United Bank followed suit to wind up at 420 fils. Kuwait International Bank paused at 208 fils.

Burgan Bank was steady at KD 0.340 and Boubyan Bank rose 5 fils on back of 1.3 million shares, Warba Bank clipped 2 fils to settle at 174 fils and Kuwait Insurance Co climbed 10 fils to KD 0.300.

National Investment Co eased 2 fils to 116 after trading 1.4 million shares while KIPCO and Securities House paused at KD 0.540 and 45 fils respectively. Securities Group inched 1 fil up whereas Bayan Investment Co and KFCI closed flat.

The market has been mixed so far during the week and has shed 9 points in last two sessions. It has retreated 27 points so far during the month and is down 4.47 pct year-to-date. KSE, with 190 listed companies, is the second largest bourse in the region.

In the bourse related news, Future Communications Co Global has clocked a first quarter net profit KD 190,492 and earnings per share of 2.38 fils as compared to net profit of KD 281,641 and earnings per share of 3.48 fils in the Q1 of 2015

Shuaiba Industrial Co has posted a net profit of KD 629,557 and earnings per share of 7.93 fils in the first quarter of 2016 as compared to net profit of KD 444,921 and earnings per share 5.65 fils in the same period last year.

Aqar Real Estate Investments Co has penciled a net profit of KD 278,860 and earnings per share of 1.30 fils in the first three months of 2016 as against a net profit of KD 506,241 and earnings per share of 2.22 fils in the same period last year.

Mezzan Holding Co has reported a net profit of KD 5.19 million and earnings per share of 16.68 fils in the quarter ending March 31, 2016 as against net profit of KD 5.45 million and earnings per share of 17.52 fils in the same period last year.

Injazzat Real Estate Development Company has chalked a net profit of KD 1.37 million and earnings per share of 4.1 fils in the quarter ending March 31, 2016 as compared to a net profit of KD 2.18 million and earnings per share of 6.5 fils in Q1 of 2015.