Kuwait bourse heads north after Eid break
CBK up 4 fils, Zain eases
KUWAIT CITY, Aug 14: Kuwait stocks scaled upwards for a green finish on Wednesday with positive market sentiment prevalent after the long Eid Al Adha holidays. The All Share Index closed 17.99 points higher at 6,122.29 points, posting a 0.29% rise from the previous session.
The Premier Market closed 23.47 points higher at 6,742.10 points, charting a 0.35% climb and the Main Market index stood at 4,903.33 points, up by 6.74 points and 0.14%. The bourse swelled in early trade and struggled to stay maintain momentum through the day, dipping in choppy trade in the final hour but finally pulling over the rim.
The total traded stock on the floor surpassed 173 million shares for a turnover of KD 24.35 million. Of the 123 active counters, 64 companies advances, while 41 retreated and 18 remained unchanged.
Aan Digital Services Company topped the list of gainers in the session, expanding 27.5% in share price to 20.4 fils. Amar for Finance and Leasing Co followed closely behind with a 26.73% leap to 38.4 fils albeit in low trade. Ekttitab Holding Co moved 18.42% upward to a 18 fils close while Kuwait Finance and Investment Co grew by 17% to a 46.8 fils share price. Equipment Holding Company ranked among the day’s top winners with a 10.53% rise to 21 fils.
On the other hand, Al Eid Food Co marked a 9.95% decline to 67.9 fils and Al Argan International Real Estate Co took a 9.72% plunge to 130 fils. International Resorts Company saw a 8.97% cut to 13.2 fils. Meanwhile, Gulf Cement Company and Noor Financial Investment closed at 56 fils and 87.9 fils with a 3.45% and 3.41% contraction, respectively.
Aan Digital Services Co traded the top volume of 22.44 million shares. Investors Holding Group traded a robust volume of 16.6 million shares while Ahli United Bank and Abyaar Real Estate Development Co saw stout activity with over 8 million of its shares traded.
The Banking Sector closed at 1,426.41 points, up by 0.41% trading a volume of 26.21 million shares for the highest sector turnover of KD 11.72 million. National Bank of Kuwait pulled 5 points higher to KD 1.005 at the session’s close. Concurrently, Kuwait Finance House inched 1 point higher to 783 fils. Ahli United Bank added 5 points to 285 fils while Burgan Bank lost 5 points for a 352 fils finish. Kuwait International Bank and Gulf Bank clambered 1 point upward to 284 fils and 313 fils while Warba Bank slipped 1 point lower to 258 fils. Meanwhile, Boubyan Bank, Commercial Bank of Kuwait made a 4 point jump to 600 fils and 504 fils.
Telecommunications Sector Index stood at 1,098.62 points, slipping 0.22% into the red. Mobile Telecommunications Co (Zain) ebbed 1 point lower to a 598 fils close while Kuwait Telecommunications Co (Viva) took a 2 point fall to 800 fils. National Mobile Telecommunications Co (Ooredoo) plunged 12 points lower to 711 fils while Aan Digital Services Co was the only counter to advance in the sector, gaining 4.4 points for a 20.4 fils close.
In related news, Boursa Kuwait announced the list of companies suspended from trading. These include Al-Kout Industrial Projects Co for not submitting the financials for the first quarter of the year as well as Ithmaar Holding Co and Yiaco Medical Co for their losses exceeding 75% of the Paid up Capital.
The financial services sector closed at 1,090.31 points, marking a 0.37% increase after trading a volume of 49 million shares for a turnover of KD 3.64 million. National Industries Group dialled up 1 point to 259 fils and Kuwait Finance and Investment Company scaled 6.8 points higher to 46.8 fils. Aayan Leasing and Investment Co held ground at 55.4 fils while Al-Madina for Finance and Investment trekked 1.6 points higher to 18.6 fils close. Al Imtiaz Investment Group closed at a steady 140 fils while First Investment Company skimmed 0.2 points lower to 34.4 fils and GFH Financial Group slid 1.2 points under to a 70.1 fils close. At the same time, Al Madar Finance and Investment Co closed flat at 100 fils.
The Oil and Gas sector closed at 1,223.68 points in the green, up by 0.31%. Gulf Petroleum Investment closed at 23.6 fils with a 1.2 point rise and Senergy Holding Company stepped 1.1 point higher to 21.4 fils. The Energy House Co, on the other hand, closed flat at 21.5 fils in low trade.
Real Estate Sector index closed at 969.85 points, trading the top volume of 50.94 million shares for a KD 1.58 million turnover. MENA Real Estate Company gained 3 points to finish at a 39.6 fils share price, The National Real Estate Company closed 2.7 points higher at 87 fils while Mabanee Co dipped 1 point lower to 797 fils. Meanwhile, Al Mazaya Holding Co stepped 2 points higher to 54.7 fils.
Industrial Sector logged a 0.3% rise to 926.92 points in the session. Agility Public Warehousing Co gained 6 points to 796 fils after announcing its financial results for the second quarter and its net profit which is up 8.1% as compared to the same period from the previous year. Humansoft Holding Co held its ground at an unchanged KD 3.22 while Combined Group Contracting slipped 3 points lower to 247 fils while Integrated Holding Co slid 2 points lower to 461 points.
In Basic Materials, Boubyan Petrochemical Co ebbed 2 points lower to 778 fils, Qurain Petrochemical Industries added 4 points to 349 fils and Kuwait Foundry Co closed flat at 255 fils. In the insurance sector, Kuwait Insurance Company inched 1 point higher to 340 fils while Warba Insurance skimmed 0.1 point lower to 65 fils.
In Consumer Goods, Danah Al Safat Foodstuff Co made a 0.4 point increment to 26.9 fils and in Consumer Services, Oula Fuel Marketing Company fell 2 points lower to 122 fils, Jiyad Holding Company made a 0.6 point advance to 46.1 fils and Kuwait Resorts Co edged 0.1 point higher to 55.9 fils.