Kuwait bourse kicks off month with gain
Zain leaps 17 fils, KIPCO flat
KUWAIT CITY, Sept 1: Kuwait stocks began the month in green with most sectors posting gains. The All Share Price rose to 5,971.06 points, up by 0.5%.
The Premier Market wound up 0.68% higher at 6,571.97 points and the Main Market closed 0.01% higher at 4,789.79 points. Of the 116 counters that remained active during the session, the winners outpaced the losers; 71 companies advanced, 31 retreated and 14 closed flat.
Over 121 million shares changed hands in 4,606 trades for a turnover of KD 21.25 million. The market opened firm and rose in early trade before slumping through midday, albeit making advances in the final hour to close 29.93 points above the rim.
Al Masaken International Real Estate Development Co was the top gainer of the day, closing the session at 63.1 fils with a whopping 20.88% upswing, followed in close step by Credit Rating Co who stood at 23 fils after a 19.79% increase. At the same time, Al Rai Media Group also marked a 9.68% rise to a 34 fils share price and National International Holding Co gained 8.94% in the session for a 67 fils close. Unicap Investment and Finance counted itself among the day’s top winners with a 8.86% spike to 47.9 fils.
Among notable losers on the trading floor, Al Argan International Real Estate Co took a 9.79% dive to 129 fils. Meanwhile, Warba Capital Holding Co eased lower to 65.2 fils, posting a 9.44% decline. Real Estate Trade Centres Co also dropped to 22.2 fils with a 8.26% contraction and Warba Insurance Co receded to a 62.5 fils close. Also among the day’s top losers, Ras Al Khaima pared 5.87% lower to 62.5 fils at the end of the session.
Aayan Leasing and Investment Co traded the top volume of the day with 15.62 million of its shares exchanged. Ahli United Bank and Arzan Financial Group for Financing and Investment also saw robust activity with 12.78 million and 10.6 million shares traded respectively. Kuwait Finance House traded a stout 5.56 million of its stock while National Industries Group followed closely with a 5.04 million shares trade.
The Banking Sector closed at 1,392.89 points, up by 0.55%, trading 28.28 million shares in the session for a value of KD 11.95 million. Kuwait Finance House trekked 2 point up to 750 fils and Ahli United Bank jumped up 6 points to close at 286 fils. National Bank of Kuwait and Gulf Bank made a 3 point increment to wind up at 995 fils and 302 fils respectively. Warba Bank edged 1 point higher to 251 fils. Boubyan Bank climbed 6 points higher to 577 fils while Burgan Bank slid 1 point lower to 347 fils. Meanwhile, Kuwait International Bank inched 1 point higher to 275 fils while Commercial Bank of Kuwait 500 fils. Telecommunications Sector Index stood at 1,061.83 points, up by 0.96%. Mobile Telecommunications Co (Zain) took 17 point leap to 572 fils while Kuwait Telecommunications Co (Viva) and National Mobile Telecommunications Co (Ooredoo) closed flat at 800 fils and 717 fils respectively. Aan Digital Services Co eased 0.6 points upward to 16.9 fils. The financial services sector marked a 1,067.51 point end with 50.66 million shares exchanged for a turnover of KD 3.78 million. National Industries Group stepped 1 point up to 240 fils while Aayan Leasing and Investment Co clambered 0.7 points down to 58.2 fils. Al Madar for Finance and Investment Co swelled by 7 points to closed at 116 fils share price. Arzan Financial Group for Financing and Investment trekked 0.3 points upward to 27 fils. Al Imtiaz Investment Group also edged 1 point hight to 132 fils and Al Salam Group Holding Co made a 0.5 point growth to 37.9 fils. Kuwait Projects Co, meanwhile, closed flat at 223 fils.
The Oil and Gas sector closed at 1,175.76 points in the negative territory, own by 0.04%. Independent Petroleum Group inched 1 point higher to 442 fils, Gulf Petroleum Investment finished at a 23.9 fils share price while The Energy House Co slithered 0.5 points lower to 21.5 fils.
Real Estate Sector index logged 953.15 points, up by 0.37%. Mabanee Co took a 7 point upturn to 779 fils, Al Mazaya Holding Co trudged 0.7 points higher to 53.7 fils and Mashaer Holding Company increased by 2 points to 74.5 fils. Abyaar Real Estate Development Co and Mena Real Estate Company clambered 0.2 points higher to 14.7 fils and 37.6 fils respectively. Kuwait Real Estate Co, on the other hand, dipped 1 point lower to 83 fils.
The Industrial Sector closed 0.39% higher at 896.53 points. Agility Public Warehousing Co gained 5 points to close at 760 fils, Combined Group Contracting rose by 4 points to finish at 243 fils and Kuwait Portland Cement Company took a 8 point leap to a KD 1.210 share price at the day’s close. Heavy Engineering Industries and Ship Building Co, meanwhile, closed flat at 407 fils. Humansoft Holding Co had a 30 point upsurge to KD 3.23 and Gulf Cable and Electrical Industries Co dialled up 4 points to 440 fils.
In Basic Materials, Boubyan Petrochemical Co ticked higher to 777 fils while Qurain Petrochemical Industries and Kuwait Foundry Co closed flat at 340 fils and 262 fils respectively.
In insurance, Gulf Insurance Group gained 4 points to close at 626 fils while Warba Insurance Company took a 4.5 point dive to 62.5 fils. In Consumer Goods, Danah Al Safat Foodstuff Co ebbed 0.2 points under to 28.2 fils and Livestock Transport and Trading Co closed flat at 186 fils. In Consumer Services, Kuwait Resorts Co slid 0.4 points below the rim, closing at 60 fils and Kuwait National Cinema took a 40 point plummet to 770 fils.
In related news, Boursa Kuwait announced that Tamkeen Holding Co, Ream Real Estate Co and Al-Kout Industrial Projects Co. suspended as of today until their financial statements are submitted. While Ithmaar Holding Co and Yiaco Medical Co continue to be suspended from trading for losses exceeding 75% of the Paid up Capital.