Boursa Kuwait trad­ing re­mains mixed

BAYAN WEEKLY MAR­KET RE­PORT

Kuwait Times - - BUSINESS -

Boursa Kuwait ended last week with mixed per­for­mance. The Price In­dex closed at 5,409.336 points, up by 0.21 per­cent from the week be­fore clos­ing, the Weighted In­dex de­creased by 0.66 per­cent af­ter clos­ing at 355.51 points, whereas the KSX-15 In­dex closed at 830.97 points down by 1.21 per­cent. Fur­ther­more, last week’s aver­age daily turnover de­creased by 10.74 per­cent, com­pared to the pre­ced­ing week, reach­ing K.D 19.55 mil­lion, whereas trad­ing vol­ume aver­age was 98.97 mil­lion shares, record­ing a de­crease of 19.28 per­cent.

The Bourse in­dices closed mixed amid a weak and fluc­tu­ated per­for­mance, as the Weighted and KSX-15 in­dices closed in the red zone af­fected by the de­cline in the pur­chas­ing ac­tiv­ity on the lead­ing and op­er­a­tional stocks, while the Price In­dex was able to re­al­ize lim­ited in­crease by the end of the week sup­ported by the spec­u­la­tive op­er­a­tions that con­cen­trated on the small-cap stocks.

The Bourse was sub­ject to a trend of sell­ing for profit dur­ing most of the week’s ses­sions con­cen­trated on the lead­ing stocks of heavy weight in the mar­ket, es­pe­cially that were able to re­al­ize good gains in the pre­vi­ous week, headed by the Telecom­mu­ni­ca­tion and Oil & Gas sec­tors. Such per­for­mance came in light of the con­tin­ued watch by the deal­ers for the listed com­pa­nies dis­clo­sures for the 9 months of the cur­rent year, where many in­vestors will de­fine their in­vest­ment pri­or­i­ties based on. As per the daily ac­tiv­ity; the Boursa Kuwait ini­ti­ated its first ses­sions of the week with a grouped de­cline in­cluded the three in­dices, in par­al­lel with the no­tice­able de­crease in the trad­ing ac­tiv­ity by the end of the ses­sion, where the value recorded a drop of around 30 per­cent, while the vol­ume de­creased by around 43 per­cent com­pared to the pre­vi­ous ses­sion. Also, the Bourse was able in the sec­ond ses­sion to re­turn to the green zone in light of a strong pur­chas­ing trend that in­cluded a wide range of listed stocks, which caused the liq­uid­ity lev­els to in­crease com­pared to the be­gin­ning of week ses­sion, where the vol­ume recorded a growth of 87 per­cent, and the value in­creased by 51 per­cent. The Bourse con­tin­ued re­al­iz­ing gains for the three in­dices by the mid-week ses­sion, sup­ported by the ran­dom pur­chas­ing op­er­a­tions that in­cluded many lead­ing and small-cap stocks, amid of a no­tice­able de­cline in the value which reached KD 8.59 mil­lion, down by 40 per­cent.

On Wed­nes­day’s ses­sion, the Bourse wit­nessed mixed clos­ing for the three in­dices, whereas the Price In­dex dropped by only 0.07 per­cent, while the Weighted and KSX15 in­dices were able to re­al­ize good gains reached 0.49 per­cent and 0.75 per­cent re­spec­tively. The Bourse also wit­nessed at the end of week ses­sion a mixed per­for­mance for the three in­dices with chang­ing po­si­tions, where the Price In­dex was able to com­pen­sate its pre­vi­ous loss to close the ses­sion with some gains sup­ported by the pur­chas­ing and quick spec­u­la­tive op­er­a­tions that in­cluded some small-cap stocks, which pushed it to end the weekly trad­ing in the green zone; while the Weighted and KSX-15 in­dices ended the ses­sion in the red zone, to in­crease its weekly losses.

By the end of the last week, the mar­ket cap­i­tal­iza­tion for the listed com­pa­nies in the of­fi­cial mar­ket reached KD 23.86 bil­lion, down by 0.64 per­cent com­pared to its level in a week ear­lier, where it reached then KD 24.01 bil­lion. On an an­nual level, the de­cline in the mar­ket cap for the listed com­pa­nies in the of­fi­cial mar­ket in­creased by 5.57 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 3.66 per­cent an­nual loss com­pared to its clos­ing in 2015, while the weighted in­dex de­creased by 6.86 per­cent, and the KSX-15 recorded 7.71 per­cent loss.

Seven of KSE’s sec­tors ended last week in the green zone, while other four recorded de­clines, whereas the Tech­nol­ogy sec­tor’s in­dex closed with no change from the week be­fore. Last week’s high­est gainer was the Health Care sec­tor, achiev­ing 1.46 per­cent growth rate as its in­dex closed at 1,070.60 points. Whereas, in the sec­ond place, the Banks sec­tor’s in­dex closed at 807.81 points record­ing 1.19 per­cent in­crease. The Real Es­tate sec­tor came in third as its in­dex achieved 0.87 per­cent growth, end­ing the week at 805.67 points.

On the other hand, the Oil & Gas sec­tor headed the losers list as its in­dex de­clined by 2.00 per­cent to end the week’s ac­tiv­ity at 747.30 points. The Telecom­mu­ni­ca­tions sec­tor was sec­ond on the losers’ list, which in­dex de­clined by 1.50 per­cent, clos­ing at 580.32 points, fol­lowed by the In­sur­ance sec­tor, as its in­dex closed at 944.63 points at a loss of 0.97 per­cent.

The Fi­nan­cial Ser­vices sec­tor dom­i­nated a to­tal trade vol­ume of around 166.84 mil­lion shares chang­ing hands dur­ing last week, rep­re­sent­ing 33.71 per­cent of the to­tal mar­ket trad­ing vol­ume. The Real Es­tate sec­tor was sec­ond in terms of trad­ing vol­ume as the sec­tor’s traded shares were 30.30 per­cent of last week’s to­tal trad­ing vol­ume, with a to­tal of around 149.94 mil­lion shares.

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