Boursa Kuwait stocks close week mixed BAYAN WEEKLY MAR­KET RE­PORT

Kuwait Times - - BUSINESS -

Boursa Kuwait ended last week mixed. The Price In­dex closed at 5,517.38 points, up by 0.10 per­cent from the week be­fore clos­ing, the Weighted In­dex de­creased by 0.38 per­cent af­ter clos­ing at 368.56 points, whereas the KSX-15 In­dex closed at 863.55 points up by 0.92 per­cent. Fur­ther­more, the week’s av­er­age daily turnover de­creased by 10.28 per­cent, com­pared to the pre­ced­ing week, reach­ing KD 14.48 mil­lion, whereas trad­ing vol­ume av­er­age was 128.92 mil­lion shares, record­ing a de­crease of 10.34 per­cent.

The Boursa ended the week’s trad­ing with mixed clos­ings to the three in­dices, whereas the Price In­dex was able to record lim­ited gains and close in the green zone for the fifth con­sec­u­tive week, in light of the spec­u­la­tive op­er­a­tions ex­e­cuted on the small-cap stocks es­pe­cially the ones be­ing traded be­low its book or par value; on the con­trary, the Weighted and KSX-15 in­dices ended the week in the red zone, af­fected by the profit col­lec­tion op­er­a­tions wit­nessed by the lead­ing and op­er­a­tional stocks which wit­nessed good in­creases dur­ing the pre­vi­ous weeks’ trad­ing.

As per the daily ac­tiv­ity, the Kuwait Boursa’s in­dices ini­ti­ated the first ses­sion of the week with mixed clos­ings, whereas the Price and Weighted in­dices dropped as a re­sult to the sell­ing for profit op­er­a­tions ex­e­cuted on the small-cap stocks, while the KSX15 In­dex was able to re­al­ize in­crease sup­ported by the pur­chas­ing pow­ers that con­cen­trated on some heavy stocks. Also, the Boursa in­dices con­tin­ued its fluc­tu­a­tion for the sec­ond con­sec­u­tive ses­sion, as the Price and Weighted in­dices ended Mon­day’s ses­sion in the green zone sup­ported by the ran­dom pur­chas­ing op­er­a­tions and the quick spec­u­la­tion that in­cluded few small-cap and mid-cap stocks, while the KSX-15 In­dex de­clined due to the profit col­lec­tion op­er­a­tions ex­e­cuted on the lead­ing stocks af­ter the in­creases it wit­nessed in the pre­vi­ous ses­sions.

On the mid-week ses­sion, the Boursa con­tin­ued its mixed per­for­mance that it was wit­ness­ing through­out the week, where the Price In­dex wit­nessed a lim­ited de­crease af­fected by the sell­ing pres­sures that in­cluded some small-cap stocks, how­ever the Weighted and KSX-15 in­dices were able to re­al­ize in­creases sup­ported by the re­turn of the pur­chas­ing and col­lec­tion op­er­a­tions ex­e­cuted on the lead­ing stocks.

The Wed­nes­day’s ses­sion wit­nessed a con­tin­ued fluc­tu­a­tion in the in­dices’ per­for­mance for the fourth con­sec­u­tive ses­sion, where the Price In­dex grew as a re­sult to the spec­u­la­tive op­er­a­tions that in­cluded a wide range of small-cap stocks, es­pe­cially the ones val­ued less than 100 fils, where the Weighted and KSX-15 in­dices were sub­ject to the profit col­lec­tion op­er­a­tions that con­cen­trated on some lead­ing stocks. On the end of week ses­sion, the three main in­dices of the Boursa wit­nessed de­cline af­fected by the sell­ing pres­sures that in­cluded many listed stocks of both lead­ing and small-cap, amid a no­tice­able in­crease in the trad­ing value to reach around KD 15.8 mil­lion by the end of the ses­sion.

By the end of last week, the mar­ket cap­i­tal­iza­tion for the listed com­pa­nies in the pri­mary mar­ket reached KD 24.81 bil­lion, down by 0.03 per­cent com­pared to its level in a week ear­lier, where it was then KD 24.82 bil­lion, how­ever on an an­nual level, the de­cline in the mar­ket cap for the listed com­pa­nies in the pri­mary mar­ket con­tracted to reach 1.80 per­cent of its value as at end of 2015, where it was then KD 25.27 bil­lion.

As far as Boursa Kuwait an­nual per­for­mance, the price in­dex ended last week record­ing 1.74 per­cent an­nual loss com­pared to its clos­ing in 2015, while the weighted in­dex de­creased by 3.44 per­cent, and the KSX-15 recorded 4.10 per­cent loss.

Four of Boursa Kuwait’s sec­tors ended last week in the green zone, while the other eight recorded de­clines. Last week’s high­est gainer was the Health Care sec­tor, achiev­ing 5.54 per­cent growth rate as its in­dex closed at 1,232.21 points. Whereas, in the sec­ond place, the In­dus­trial sec­tor’s in­dex closed at 1,240.39 points record­ing 2.34 per­cent in­crease. The Fi­nan­cial Ser­vices sec­tor came in third as its in­dex achieved 0.66 per­cent growth, end­ing the week at 568.98 points.

On the other hand, the Tech­nol­ogy sec­tor headed the losers list as its in­dex de­clined by 17.81 per­cent to end the week’s ac­tiv­ity at 841.40 points. The Con­sumer Goods sec­tor was sec­ond on the losers’ list, which in­dex de­clined by 0.81 per­cent, clos­ing at 1,115.31 points, fol­lowed by the Banks sec­tor, as its in­dex closed at 829.97 points at a weekly loss of 0.73 per­cent.

The Fi­nan­cial Ser­vices sec­tor dom­i­nated a to­tal trade vol­ume of around 263.28 mil­lion shares chang­ing hands dur­ing last week, rep­re­sent­ing 40.84 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 20.19 per­cent of last week’s to­tal trad­ing vol­ume, with a to­tal of around 130.17 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 25.44mil­lion or 35.14 per­cent 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 16.48 mil­lion rep­re­sent­ing 22.76 per­cent of the to­tal mar­ket trad­ing value. - Pre­pared by the Stud­ies & Re­search De­part­ment, Bayan In­vest­ment Co.

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