Positive momentum buoys Kuwait stocks

KFH Capital Weekly Report

The Boursa Kuwait Indices witnessed a positive week as indices increased this week. The price index closed at 5,480.42 an increase of 1.31 percent up 71.06 points compared to the previous week. As the MUDX witnessed a higher increase this week of 3.22 percent to close at 561.67 for the week. While the market blue-chip index the KSX15 closed on an increase this week of 23.85 points up 2.87 percent during the week to close at 854.82.

The reported weekly volumes were 886.60 million shares compared to 494.87 million shares in previous. Among the major contributors, the Financial Services Sector (contributing 31.11 percent) witnessed 275.69 million shares of trading compared to 166.84 million shares in the previous week, while Real Estate Sector (contributing 25.85 percent) witnessed 229.08 million shares of trading compared to 149.93 million shares in the previous week.

The overall Market Cap witnessed an increased this week as it stood at KD 25.09 billion up 2.1 percent on weekly basis. As for the blue chips, National Bank of Kuwait - NBK (Mcap - KD 3.43 billion) saw its market cap increase 3.39 percent during the week. While Mobile Telecommunication Co. - Zain ( Mcap - KD 1.74 billion) saw its market cap increase by 3.85 percent. Moreover; Ahli United Bank - AUB (Mcap KD 1.29 billion) saw it market cap decrease 2.06 percent during the week. On the total market breadth, Of the 56 Islamic Companies, 35 advanced while 4 declined during the week.

The Islamic universe market cap witnessed its market cap an increase of 3.91 percent to close at KD 6.69 billion. The universe heavyweights Kuwait Finance House - KFH (Mcap - KD 2.67 billion) saw its market cap increase 5.15 percent during the week. While Boubyan Bank (Mcap - KD 855.73 million) saw its market cap increase 1.28 percent. Kuwait Telecommunication Co - VIVA (Mcap- KD 429.48 million) saw its market cap increase 1.18 percent during the week.