Boursa Kuwait ends with mixed performance

Report prepared by Bayan

Investment Co

Boursa Kuwait ended last week with mixed performance. The Premier Market Index closed at 5,348.79 points, up 0.82%, the Main Market Index decreased by 2.20% after closing at 4,759.29 points, and the All-Share Index closed at 5,139.56 points down by 0.19%. Furthermore, last week’s average daily turnover increased by 5.89%, compared to the preceding week, reaching around KD 17.27 million, whereas trading volume average was about 86.58 million shares, recording an increase of 25.62%.

The Boursa market capitalization recorded weekly loss of around KD 45.64 million, as it reached by the end of the week to about KD 28.76 billion, down by 0.16% of its level in a week earlier, where it was KD 28.81 billion. The Boursa gains since the implementation of the new market segmentation reached approximately KD 905.26 million, or 3.25%. (Note: The market capitalization for the listed companies in the Boursa is calculated based on the weighted average number of outstanding shares as per the latest available official financial statements).

Moreover, the three indices’ performance fluctuated by the end of last week, and only the Premier Market Index was able to record gains to end the week’s trading in the green zone supported by the active collection operations that concentrated on the leading and heavy stocks, while the Main and All-Share indices closed by the end of the week with different losses, affected by the strong selling pressures executed on wide range of small-cap stocks, in addition to the profit collection operations that included some stocks of previous increases in the prior weeks.

The fluctuated performance of the Boursa last week came in parallel with the mixed performance of the trading indicators compared to the previous week, as the total traded stocks increased during the week by 0.50%, while the total trading value decreased at the end of the week by 15.29%.

Last week witnessed trading over 152 stock out of 175 listed stock in the Market, where prices of 57 stock increased against prices of 76 stock decreased, and prices of 42 stock remained at no change.

Sectors’ Indices Six of Boursa Kuwait’s sectors ended last week in the red zone, while the other six recorded increases. Last week’s highest loser was the Real Estate sector, as its index declined by 8.07% to end the week’s activity at 906.39 points. The Oil & Gas sector was second on the losers’ list, which index declined by 2.61%, closing at 1,064.93 points, followed by the Consumer Services sector, which index declined by 0.98%, closing at 1,022.35 points.

On the other hand, last week’s highest gainer was the Technology sector, achieving 1.69% growth rate as its index closed at 873 points. The Telecommunications sector came in the second place, as its index closed at 924.49 points recording 1.07% increase, followed by Banks sector, achieving 0.59% growth rate as its index closed at 1,079.97 points.

Sectors’ Activity The Financial Services sector dominated a total trade volume of around 115.90 million shares changing hands during last week, representing 33.46% of the total market trading volume. The Banks sector was second in terms of trading volume as the sector’s traded shares were 30.33% of last week’s total trading volume, with a total of around 105.04 million shares.

On the other hand, the Banks sector’s stocks were the highest traded in terms of value; with a turnover of around KD 35.64 million or 51.58% of last week’s total market trading value. The Industrial sector took the second place as the sector’s last week turnover was approx. KD 13.54 million representing 19.60% of the total market trading value.

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