Boursa Kuwait stocks re­main mixed BAYAN WEEKLY MAR­KET RE­PORT

Kuwait Times - - BUSINESS - —Pre­pared by the Stud­ies & Re­search De­part­ment, Bayan In­vest­ment Co.

KUWAIT: Boursa Kuwait ended last week with mixed zone. The Price In­dex closed at 5,569.0 points, up by 0.94 per­cent from the week be­fore clos­ing, the Weighted In­dex in­creased by 0.28 per­cent af­ter clos­ing at 369.61 points, whereas the KSX-15 In­dex closed at 862.41 points down by 0.13 per­cent. Fur­ther­more, the week’s av­er­age daily turnover de­creased by 15.45 per­cent, com­pared to the pre­ced­ing week, reach­ing K.D 12.24 mil­lion, whereas trad­ing vol­ume av­er­age was 102.52 mil­lion shares, record­ing a de­crease of 20.48 per­cent.

The Price In­dex was able to record good gains and close in the green zone for the sixth con­sec­u­tive week, in light of the spec­u­la­tive op­er­a­tions ex­e­cuted on the small-cap stocks es­pe­cially the ones be­ing traded un­der its book or par value. Also, the Weighted In­dex was able to end the weekly trad­ing ac­tiv­ity in the green zone as well, sup­ported by the pur­chas­ing pow­ers that were ac­tive on some lead­ing stocks, es­pe­cially the ones that recorded de­creases in its prices dur­ing a week ear­lier. The KSX-15 In­dex how­ever went against the cur­rent and ended the week with limited losses due to the profit col­lec­tion op­er­a­tions ex­e­cuted on some lead­ing stocks es­pe­cially in the Banks sec­tor.

As far as the daily ac­tiv­ity; Boursa Kuwait in­di­ca­tors ini­ti­ated the first ses­sion of the week with mixed clos­ings, whereas the Price In­dex was able to re­al­ize in­crease sup­ported by the ac­tive spec­u­la­tive op­er­a­tions that in­cluded some small-cap stocks, while the sell­ing pres­sures wit­nessed by some lead­ing stocks pushed the Weighted and KSX-15 in­dices to end the ses­sion in the losses area. Such per­for­mance came in light of a steep decline in the pumped liq­uid­ity into the mar­ket, where it dropped by more than 70 per­cent to reach K.D. 4.5 mil­lion, its low­est level in a month and one half month. There­after, the Boursa was able on Mon­day’s ses­sion to in­crease as for all its in­dices, sup­ported by the re­turn of the pur­chas­ing op­er­a­tions ex­e­cuted on the lead­ing stocks, on con­trary with a no­tice­able in­crease in the trad­ing lev­els, where the vol­ume grew by 117 per­cent and the value in­creased at the end of the ses­sion by 151 per­cent.

On the mid-week ses­sion, the three mar­ket in­dices re­turned to fluc­tu­ate once again, where the Price In­dex was able to con­tinue its pos­i­tive per­for­mance and closed the ses­sion in the green zone, sup­ported by the con­tin­ued spec­u­la­tive op­er­a­tions on the small-cap stocks, es­pe­cially the ones be­ing traded be­low its book and par value, while the Weighted and KSX-15 in­dices recorded some losses by the end of the ses­sion un­der the in­flu­ence of the profit col­lec­tion op­er­a­tions ex­e­cuted on few lead­ing stocks. The Boursa per­for­mance was not much dif­fer­ent on the next ses­sion, as the three stock in­dices wit­nessed fluc­tu­a­tion as a re­sult to the dif­fer­ent traders’ pref­er­ences, amid a no­tice­able growth in the traded liq­uid­ity to reach KD20 mil­lion, up by 122 per­cent com­pared to Tues­day’s ses­sion.

By the end of the week, the three mar­ket in­dices were able to re­al­ize gains in light of the pur­chas­ing trend that hit many pre­vi­ously traded stocks, es­pe­cially the lead­ing ones of which per­for­mance was re­flected on all mar­ket in­di­ca­tors’ per­for­mance es­pe­cially the Weighted and KSX-15 in­dices, the most in­creas­ing ones by the end of the ses­sion.

At the end of last week, the mar­ket cap­i­tal­iza­tion for the listed com­pa­nies in the pri­mary mar­ket reached K.D. 25.06 bil­lion, up by .99 per­cent com­pared to its level in a week ear­lier, where it reached then K.D. 24.81 bil­lion. On an an­nual level, the decline in the mar­ket cap for the listed com­pa­nies con­tracted to reach 0.83 per­cent from its value as at end of 2015, where it reached then K.D. 25.27 bil­lion.

As far as Boursa Kuwait an­nual per­for­mance, the price in­dex ended last week record­ing 0.82 per­cent an­nual loss com­pared to its clos­ing in 2015, while the weighted in­dex de­creased by 3.17 per­cent, and the KSX-15 recorded 4.22 per­cent loss.

Nine of Boursa Kuwait’s sec­tors ended last week in the green zone, while the other three recorded de­clines. Last week’s high­est gainer was the Ba­sic Ma­te­ri­als sec­tor, achiev­ing 4.37 per­cent growth rate as its in­dex closed at 959.14 points. Whereas, in the sec­ond place, the Health Care sec­tor’s in­dex closed at 1,267.54 points record­ing 2.87 per­cent in­crease. The In­dus­trial sec­tor came in third as its in­dex achieved 2.38 per­cent growth, end­ing the week at 1,269.86 points.

On the other hand, the Tech­nol­ogy sec­tor headed the losers list as its in­dex de­clined by 14.17 per­cent to end the week’s ac­tiv­ity at 699.03 points. The Banks sec­tor was sec­ond on the losers’ list, which in­dex de­clined by 1.02 per­cent, clos­ing at 821.54 points, fol­lowed by the Con­sumer Goods sec­tor, as its in­dex closed at 1,114.58 points at a weekly loss of 0.07 per­cent. The Fi­nan­cial Ser­vices sec­tor dom­i­nated a to­tal trade vol­ume of around 225.14 mil­lion shares chang­ing hands dur­ing last week, rep­re­sent­ing 43.92 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 24.51 per­cent of last week’s to­tal trad­ing vol­ume, with a to­tal of around 125.61 mil­lion shares.

On the other hand, the Fi­nan­cial Ser­vices sec­tor’s stocks were the high­est traded in terms of value; with a turnover of around KD 15.78 mil­lion or 25.77 per­cent of last week’s to­tal mar­ket trad­ing value. The In­dus­trial sec­tor took the sec­ond place as the sec­tor’s last week turnover was ap­prox. KD 13.23 mil­lion rep­re­sent­ing 21.60 per­cent of the to­tal mar­ket trad­ing value.

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