Kuwaiti equities open week on a sober note

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NBK slips 8 fils, Humansoft Holding gains

KUWAIT CITY, June 16: Kuwait stocks headed south on Sunday as it kicked off the week on a dour note. The All Shares Index dipped 35.06 points in volatile session to 5,817.47 points led by some of the heavyweights even as the broader mood remained soggy.

The Prime Market skidded 39 points to 6,351.65 pts trimming the month’s gains 109 pts while Main Market dropped 29 points to 4,774.10 points. The volume turnover meanwhile fell sharply after soaring past the 200 million mark in the previous session. Over 123 million shares changed hands – down 40 pct from the day before.

Among the day’s notable losers, National Bank of Kuwait slipped 8 fils to 978 fils after trading 2.3 million shares and Commercial Bank of Kuwait shed 17 fils before winding up at 502 fils. Kuwait Portland Cement Co skidded 69 fils to KD 1.211. Zain dropped 13 fils to 554 fils paring the month’s gains to 30 fils and traded 4.5 million shares during the session while Ooredoo was down 11 fils at 664 fils. Kuwait Telecommunications Co (VIVA) dropped 7 fils and Agility shed 10 fils.

The market opened firm and edged higher in early trade. The main index headed south as selling weighed on select counters and clawed back again to scale the day’s highest level of 5852 points. It retreated again as sentiment soured and closed with moderate losses. Top gainer of the day, Massaleh rallied 9.7 pct to close at 38.2 fils and Energy Holding climbed 9.75 pct to stand next. Ektittab Holding skidded 8.7 percent, the steepest decliner of the day and Al Imtiaz topped the volume with 14.2 million shares.

National Industries Group eased 1 fil to 223 fils after trading over 4 million shares and Mezzan Holding fell 3 fils to 530 fils. Boubyan Petrochemical Company shed 9 fils and Al Qurain Petrochemical Co added 4 fils before settling at 901 fils. Integrated Holding Co was down 6 fils at 614 fils. Jazeera Airways was unchanged at 930 fils and ALAFCO ticked 1 fil higher to 231 fils on back of 1.7 million shares. Mashaer Holding tripped 0.4 fil and Fujairah Cement Co gave up 1.6 fils. Humansoft Holding rallied 92 fils to KD 3.340 with razor thin trading.

Kuwait Portland Cement Co tumbled 69 fils to KD 1.211 and Gulf Cable dialed up 2 fils to close at 405 fils. Heavy Engineering Industries and Shipbuilding Co was unchanged at 381 fils and Equipment Holding ticked 0.1 fil higher to 22.6 fils. Kuwait Foundry Co and ACICO Industries were flat at 260 fils and 136 fils respectively whereas Educational Holding Group fell 5 fils to 315 fils. KCPC climbed 7 fils to 217 fils and KPPC gave up 1.3 fils before closing at 57.2 fils. Kuwait and Gulf Links Transport Co inched 0.2 fil higher to 82.9 fils and KGL Logistics tripped 0.3 fil.

UPAC cllimbed 12 fils to 390 fils while Salbookh Trading and AAN eased 0.1 fil each to end at 43.8 fils and 11.9 fils respectively. Combined Group Contracting Co dipped 12 fils to 190 fils and NAPESCO skidded 20 fils to KD 1.020. NICBM dialed up 2 fils before ending at 187 fils and UPAC jumped 12 fils to 390 fils. Al Rai Media Group was unchanged at 41 fils and Inovest ticked 1 fil into red.

In the banking sector, Gulf Bank slipped 3 fils to 309 fils after trading 6.4 million shares and Kuwait International Bank clipped 2 fils. Burgan Bank extended last session’s losses with 3 fils drop to 330 fils and Boubyan Bank took in 1 fil.

Kuwait Finance House fell 3 fils to after trading 6.8 million shares and Al Ahli Bank climbed 5 fils to 320 fils. Warba Bank dialed down 2 fils after trading 3.5 million shares and Ahli United Bank took in 1 fil on back of 3.5 million shares. Al Mutahed tripped 1 fil to end at 312 fils. KIPCO eased 1 fil to 215 fils and Gulf Finance House trimmed 0.5 fil before ending at 71 fils. Kuwait Investment Co and FACIL clipped 1 fil each to close at 120 fils and 195 fils respectively whereas Coast Investment Co dialed up 2 fils. Securities House Co tripped 1.8 fils to end at 46 fils.

KMEFIC and ALOLA took in 0.1 fil each whereas Aayan Investment edged 0.3 fil higher to 46 fils. Arzan Investment tripped 1 fil and Unicap stood pat at 53 fils. Al Salam took in 0.9 fils on back of 7.8 million shares and Ektittab Holding clipped 1.5 fils. Noor Financial Investment Co fell 3 fils to 89 fils and KSHC dialed up 1.9 fils before closing at 43 fils. Al Imtiaz and GNAHC were flat at 131 fils and 54.5 fils respectively whereas Ahleia Insurance Co slipped 10 fils to 420 fils. Warba Insurance Co inched 0.1 fil higher to 65.6 fils. Mabanee Co dialed up 2 fils while Kuwait Real Estate and National Real Estate Co clipped 0.7 fil each.

Salhiya Real Estate Co fell 3 fils to 335 fils and United Real Estate Co trimmed 0.9 fil. Mazaya Holding dialed up 0.5 fil and Salhiya Real Estate gave up 3 fils. The bourse was mixed during the previous week.

The main index closed higher in three of the five sessions climbing 88 points week-on-week. It has gained 86 pts so far during the month and is trading 701 pts higher year-to-date. 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 9506 times!

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