Boursa in­dices rise on fresh mo­men­tum

Kuwait Times - - BUSINESS -

KUWAIT: Boursa Kuwait ended last week in the green zone. The Price In­dex closed at 5,511.74 points, up by 0.57 per­cent from the week be­fore clos­ing, the Weighted In­dex in­creased by 1.89 per­cent af­ter clos­ing at 369.98 points, whereas the KSX15 In­dex closed at 871.57 points up by 1.96 per­cent. Fur­ther­more, the week’s av­er­age daily turnover de­creased by 19.74 per­cent, com­pared to the pre­ced­ing week, reach­ing K.D 16.14 mil­lion, whereas trad­ing vol­ume av­er­age was 143.79 mil­lion shares, record­ing a de­crease of 18.91 per­cent.

The three Boursa in­dices were able to re­al­ize gains for the sec­ond con­sec­u­tive week sup­ported by the ac­tive trad­ing that in­cluded many listed stocks and con­cen­trated on the lead­ing ones, in ad­di­tion to the spec­u­la­tive op­er­a­tions that con­cen­trated on some small-cap stocks es­pe­cially the ones be­ing traded un­der its book and par val­ues. The Boursa wit­nessed such per­for­mance de­spite the de­crease in the trad­ing lev­els com­pared to the week ear­lier, as the to­tal vol­ume of the traded stocks dur­ing the last week reached 718.9 mil­lion stock, while the to­tal value reached by the end of the week to around KD 81.7 mil­lion.

As per the daily trad­ing ac­tiv­ity, the Boursa wit­nessed a fluc­tu­ated per­for­mance all along the be­gin­ning of week ses­sion, where it was able to in­crease in the first ses­sion sup­ported by the ac­tive trad­ing and the ran­dom pur­chas­ing op­er­a­tions ex­e­cuted on the lead­ing stocks, while the profit col­lec­tion op­er­a­tions contributed to the de­cline in the in­dices’ per­for­mance putting it in the red zone, be­fore it wit­nessed the last min­utes of the ses­sion some ran­dom pur­chas­ing op­er­a­tions that contributed into ad­just­ing the Boursa’s track and re­di­rect its in­dices to the green zone. The Boursa wit­nessed in the next cou­ple of ses­sions a mixed clos­ings for the three in­dices, where the Price In­dex dropped af­fected by the profit col­lec­tion op­er­a­tions that in­cluded few small-cap stocks, es­pe­cially the ones that did not dis­close its third quar­ter fi­nan­cial re­sults be­fore the ses­sion, while the Weighted and KSX-15 in­dices ended the ses­sion in the green zone, sup­ported by the con­tin­ued pur­chas­ing op­er­a­tions on the lead­ing and heavy stocks.

The three Boursa in­dices re­turned in the mid­week ses­sion to meet in the green clos­ing area, sup­ported by the ac­tive pur­chas­ing op­er­a­tions that con­cen­trated on the Banks sec­tor, in ad­di­tion to the quick spec­u­la­tive op­er­a­tions ex­e­cuted on the small­cap stocks amid a grow­ing trad­ing ac­tiv­ity es­pe­cially in the value which wit­nessed an in­crease on 72 per­cent by the end of the ses­sion. The mar­ket re­turned to fluc­tu­ate once again on Wed­nes­day’s ses­sion, where the Price In­dex was able to re­al­ize gains in light of the quick spec­u­la­tive op­er­a­tions and the ran­dom pur­chas­ing op­er­a­tions ex­e­cuted on the small-cap stocks, es­pe­cially on the ones that dis­closed pos­i­tive third quar­ter re­sults for the year 2016, while the profit col­lec­tion op­er­a­tions that in­cluded some lead­ing stocks, pushed the Weighted and KSX-15 in­dices to end the ses­sion in the red zone. The last ses­sion of the last week ended with mixed clos­ings to the three in­dices, where the Price and Weighted in­dices were able to re­al­ize limited in­crease that en­hanced its weekly gains, how­ever the KSX-15 In­dex con­tin­ued record­ing losses for the sec­ond con­sec­u­tive ses­sion af­fected by the profit col­lec­tion op­er­a­tions ex­e­cuted on the heavy stocks, which limited its weekly gains to a cer­tain de­gree.

By the end of the week, the mar­ket cap­i­tal­iza­tion for the listed com­pa­nies in the of­fi­cial mar­ket reached KD 24.82 bil­lion, up by 0.71 per­cent com­pared to its level in the pre­vi­ous week, where it reached then KD 24.64 bil­lion. On an an­nual level, the de­cline in the mar­ket cap for the listed com­pa­nies in the pri­mary mar­ket con­tracted to reach 1.77 per­cent of 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 1.84 per­cent an­nual loss com­pared to its clos­ing in 2015, while the weighted in­dex de­creased by 3.07 per­cent, and the KSX-15 recorded 3.21 per­cent loss.

Sec­tors’ In­dices

Eight of KSE’s sec­tors ended last week in the green zone, while the other four recorded de­clines. Last week’s high­est gainer was the Healthcare sec­tor, achiev­ing 4.87 per­cent growth rate as its in­dex closed at 1,167.52 points. Whereas, in the sec­ond place, the Oil & Gas sec­tor’s in­dex closed at 780.75 points record­ing 4.21 per­cent in­crease. The Telecom­mu­ni­ca­tions com­pa­nies sec­tor came in third as its in­dex achieved 3.06 per­cent growth, end­ing the week at 617.10 points. The Con­sumer Goods sec­tor was the least grow­ing as its in­dex closed at 1,124.42 points with a 0.19 per­cent in­crease.

On the other hand, the Ba­sic Ma­te­ri­als sec­tor headed the losers list as its in­dex de­clined by 1.15 per­cent to end the week’s ac­tiv­ity at 918.93 points. The Con­sumer Ser­vices sec­tor was sec­ond on the losers’ list, which in­dex de­clined by 0.48 per­cent, clos­ing at 914.61 points, fol­lowed by the Tech­nol­ogy sec­tor, as its in­dex closed at 990.91 points at a weekly loss of 0.14 per­cent.

Sec­tors’ Ac­tiv­ity

The Fi­nan­cial Ser­vices sec­tor dom­i­nated a to­tal trade vol­ume of around 250.31 mil­lion shares chang­ing hands dur­ing last week, rep­re­sent­ing 34.82 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 22.28 per­cent of last week’s to­tal trad­ing vol­ume, with a to­tal of around 160.15 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 32.99 mil­lion or 40.88 per- cent of last week’s to­tal mar­ket trad­ing value. The Fi­nan­cial Ser­vices sec­tor took the sec­ond place as the sec­tor’s last week turnover was ap­prox. KD 15.15 mil­lion rep­re­sent­ing 19.22 per­cent of the to­tal mar­ket trad­ing value.—Pre­pared by the Stud­ies & Re­search Depart­ment Bayan In­vest­ment Co.

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