Boursa Kuwait gains on pos­i­tive sen­ti­ment

BAYAN WEEKLY MAR­KET RE­PORT

Kuwait Times - - BUSINESS -

Boursa Kuwait ended last week in the green zone. The Price In­dex closed at 5,397.85 points, up by 1.44 per­cent from the week be­fore clos­ing, the Weighted In­dex in­creased by 3.39 per­cent af­ter clos­ing at 357.86 points, whereas the KSX-15 In­dex closed at 841.13 points up by 4.49 per­cent. Fur­ther­more, last week’s av­er­age daily turnover in­creased by 59.90 per­cent, com­pared to the pre­ced­ing week, reach­ing KD 19.55 mil­lion, whereas trad­ing vol­ume av­er­age was 122.61 mil­lion shares, record­ing an in­crease of 55.50 per­cent.

The Boursa was able to re­al­ize spec­tac­u­lar gains sup­ported by the op­ti­mism state that over con­trolled a large group of traders, as its three in­dices wit­nessed good in­crease com­pared to the pre­vi­ous week closings, es­pe­cially the Weighted and KSX-15 in­dices which ben­e­fited from the no­tice­able ac­tiv­ity wit­nessed by the lead­ing and op­er­a­tional stocks, es­pe­cially in the Telecom­mu­ni­ca­tion and Banks sec­tors. Also, the spec­u­la­tions oper­a­tions played an im­por­tant role in sup­port­ing the Price In­dex, which recorded good in­crease by the end of the week. As per the daily trad­ing ac­tiv­ity, the Boursa Kuwait ini­ti­ated its first ses­sions of the week with grouped gain that in­cluded its three in­dices, de­spite the large de­cline in the trad­ing value dur­ing the ses­sion, whereas it recorded a de­crease of 62 per­cent com­pared to the pre­vi­ous ses­sion, how­ever the pur­chas­ing and col­lec­tion oper­a­tions that con- cen­trated on the lead­ing stocks pushed the three in­dices to end the ses­sion in the green zone. On the sec­ond ses­sion, the Boursa wit­nessed mixed closings for the three in­dices, whereas the Price and Weighted in­dices in­creased sup­ported by the pur­chas­ing and quick spec­u­la­tive oper­a­tions that in­cluded some small-cap and mid-cap stocks, while the KSX15 In­dex was sub­ject to a lim­ited drop due to the profit col­lec­tion oper­a­tions ex­e­cuted on some heavy stocks, which the In­dex is com­posed of.

On the mid-week ses­sion, the ses­sion was de­scribed to be ex­cep­tional, as the Boursa wit­nessed a large in­crease in all its in­dices, where the three main in­dices jumped by high rates, in ad­di­tion to the no­tice­able growth in the pumped liq­uid­ity to the mar­ket, where it in­creased by about 190 per­cent, and the traded vol­ume grew by 118 per­cent com­pared to the Mon­day’s ses­sion. Such ex­cep­tional per­for­mance came in light of the heavy pur­chas­ing ac­tiv­ity that the lead­ing and heavy stocks were sub­ject to, es­pe­cially in the Telecom­mu­ni­ca­tion and Banks sec­tors, the most ac­tive ones in terms of value dur­ing the last week.

The Boursa Kuwait con­tin­ued its ac­tiv­ity on Wed­nes­day’s ses­sion, and its three in­dices con­tin­ued in record­ing gains reach­ing new lev­els that never wit­nessed in a while, as the Price In­dex reached its high­est level of the month dur­ing the ses­sion, which is con­sid­ered rea­son­able and logic es­pe­cially af­ter the good gains re­al­ized by the mar­ket in the pre­vi­ous ses­sions. By the end of the week, the mar­ket cap­i­tal­iza­tion for the listed com­pa­nies in the of­fi­cial mar­ket reached KD 24.01 bil­lion, up by 3.31 per­cent com­pared to its level in the pre­vi­ous week, where it reached then KD 23.24 bil­lion, how­ever on an an­nual level, the de­cline in the mar­ket cap of the listed com­pa­nies in the of­fi­cial mar­ket de­creased to reach 4.96 per­cent from its value at end of 2015, where it reached then KD 25.27 bil­lion.As far as Boursa Kuwait an­nual per­for­mance, the price in­dex ended last week record­ing 3.87 per­cent an­nual loss com­pared to its clos­ing in 2015, while the weighted in­dex de­creased by 6.25 per­cent, and the KSX-15 recorded 6.59 per­cent loss.

All of Boursa Kuwait sec­tors ended last week in the green zone. Last week’s high­est gainer was the Telecom­mu­ni­ca­tions sec­tor, achiev­ing 5.46 per­cent growth rate as its in­dex closed at 589.17 points. Whereas, in the sec­ond place, the Banks sec­tor’s in­dex closed at 798.32 points record­ing 2.91 per­cent in­crease. The Fi­nan­cial Ser­vices sec­tor came in third as its in­dex achieved 2.73 per­cent growth, end­ing the week at 552.04 points. The Tech­nol­ogy sec­tor was the least grow­ing as its in­dex closed at 995.15 points with a 0.34 per­cent in­crease.

The Fi­nan­cial Ser­vices sec­tor dom­i­nated a to­tal trade vol­ume of around 174.15 mil­lion shares chang­ing hands dur­ing last week, rep­re­sent­ing 28.41 per­cent of the to­tal mar­ket trad­ing vol­ume. The Banks sec­tor was sec­ond in terms of trad­ing vol­ume as the sec­tor’s traded shares were 20.64 per­cent of last week’s to­tal trad­ing vol­ume, with a to­tal of around 126.53 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 41.85 mil­lion or 42.81 per­cent of last week’s to­tal mar­ket trad­ing value. The Telecom­mu­ni­ca­tions sec­tor took the sec­ond place as the sec­tor’s last week turnover was ap­prox. KD 23.76 mil­lion rep­re­sent­ing 24.30 per­cent of the to­tal mar­ket trad­ing value. — Pre­pared by the Stud­ies & Re­search De­part­ment, Bayan In­vest­ment Co.

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