Boursa Kuwait eq­ui­ties re­main buoy­ant

Kuwait Times - - BUSINESS -

Boursa Kuwait ended last week in the green zone. The Price In­dex closed at 5,589.16 points, up by 0.36 per­cent from the week be­fore clos­ing, the Weighted In­dex in­creased by 1 per­cent af­ter clos­ing at 373.31 points, whereas the KSX-15 In­dex closed at 872.82 points up by 1.21 per­cent. Fur­ther­more, the week’s av­er­age daily turnover in­creased by 32.58 per­cent, com­pared to the pre­ced­ing week, reach­ing KD 16.23 mil­lion, whereas trad­ing vol­ume av­er­age was 165.96 mil­lion shares, record­ing an in­crease of 61.89 per­cent.

The Boursa’s three main in­dices were able to re­al­ize weekly gains once again af­ter it wit­nessed fluc­tu­a­tion in its per­for­mance dur­ing the ear­lier week, af­fected by the pur­chas­ing ac­tiv­ity on the heavy and lead­ing stocks, es­pe­cially the ones ex­pected to dis­trib­ute cash div­i­dends and stocks for the fi­nan­cial year 2016. De­spite the neg­a­tive start that the Boursa ini­ti­ated its last week’s trad­ing with, where the in­dices recorded dif­fer­ent losses in the first ses­sion of the week as a re­sult to the profit col­lec­tion op­er­a­tions; it was able to com­pen­sate its losses grad­u­ally sup­ported by the re­turn of the pur­chas­ing op­er­a­tions to be in con­trol over the trad­ing ac­tiv­ity once again, to end the week in the green zone.

As per the daily per­for­mance, the Kuwait Boursa’s in­dices ini­ti­ated its first ses­sion of the week with dif­fer­ent losses recorded to its three in­dices af­fected by the sell­ing pres­sures and the profit col­lec­tion op­er­a­tions that in­cluded some stocks of pre­vi­ous in­creases; such per­for­mance came in light of a de­cline in the trad­ing ac­tiv­ity com­pared to the pre­vi­ous ses­sion, where the liq­uid­ity level dropped at the end of the ses­sion by 28.5 per­cent, while the vol­ume de­creased by 36.51 per­cent.

Mon­day’s ses­sion wit­nessed a mixed clos­ing to the three in­dices, where the Price In­dex con­tin­ued its de­cline due to the profit col­lec­tion op­er­a­tions and the quick spec­u­la­tions ex­e­cuted on some small-cap stocks, while the Weighted and KSX-15 in­dices were able to in­crease by the end of the ses­sion sup­ported by the ran­dom trad­ing and the pur­chas­ing op­er­a­tions that in­cluded some lead­ing stocks; the Boursa wit­nessed such per­for­mance in light of an in­creased trad­ing ac­tiv­ity com­pared to Sunday’s ses­sion, where the cash liq­uid­ity recorded by the end of the ses­sion an in­crease of 13.16 per­cent, while the vol­ume in­creased by 37.85 per­cent.

On Tues­day’s ses­sion, the three mar­ket in­dices were able to in­crease and end the ses­sion in the green zone, sup­ported by the con­tin­ued pur­chas­ing ac­tiv­ity on the lead­ing and op­er­a­tional stocks, in ad­di­tion to the spec­u­la­tive op­er­a­tions ex­e­cuted on some small-cap stocks; such per­for­mance came as a re­sult to the con­tin­ued growth in the trad­ing ac­tiv­ity, where the value in­creased by 31.32 per­cent, and the vol­ume grew by 19.48 per­cent. On the end of week ses­sion, the Boursa in­dices re­turned to fluc­tu­ate once again, where the Price and Weighted in­dices were able to re­al­ize gain by the end of the ses­sion, how­ever the KSX-15 went against the cur­rent and ended the last ses­sion of the week in the red zone; and such per­for­mance came in light of a growth in the trad­ing lev­els, as the value reached its high­est level since last Oc­to­ber be­ing at KD 23.03 mil­lion, up by 33.80 per­cent, and the vol­ume recorded a growth of 18.35 per­cent to reach 216.58 mil­lion stock.

By the end of the week, the mar­ket cap­i­tal­iza­tion for the listed com­pa­nies in the pri­mary mar­ket reached KD 25.63 bil­lion, up by 2.28 per­cent com­pared to its level in a week ear­lier, where it reached then KD 25.06 bil­lion. On an an­nual level, the mar­ket cap for the listed com­pa­nies in the pri­mary mar­ket recorded a growth of 1.44 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 0.46 per­cent an­nual loss com­pared to its clos­ing in 2015, while the weighted in­dex de­creased by 2.20 per­cent, and the KSX-15 recorded 3.07 per­cent loss.

Sec­tors’ In­dices

Five of KSE’s sec­tors ended last week in the green zone, six recorded de­clines, whereas the Health Care sec­tor’s in­dex closed with no change from the week be­fore. Last week’s high­est gainer was the Real Es­tate sec­tor, achiev­ing 2.19 per­cent growth rate as its in­dex closed at 852.06 points. Whereas, in the sec­ond place, the Con­sumer Goods sec­tor’s in­dex closed at 1,133.91 points record­ing 1.73 per­cent in­crease. The Ba­sic Ma­te­ri­als sec­tor came in third as its in­dex achieved 1.56 per­cent growth, end­ing the week at 974.11 points.

On the other hand, the Tech­nol­ogy sec­tor headed the losers list as its in­dex de­clined by 11.67 per­cent to end the week’s ac­tiv­ity at 617.46 points. The Con­sumer Ser­vices sec­tor was sec­ond on the losers’ list, which in­dex de­clined by 1.07 per­cent, clos­ing at 910.62 points, fol­lowed by the In­sur­ance sec­tor, as its in­dex closed at 950.47 points at a loss of 0.60 per­cent.

Sec­tors’ Ac­tiv­ity

The Fi­nan­cial Ser­vices sec­tor dom­i­nated a to­tal trade vol­ume of around 260.52 mil­lion shares chang­ing hands dur­ing last week, rep­re­sent­ing 39.25 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 38.47 per­cent of last week’s to­tal trad­ing vol­ume, with a to­tal of around 255.40 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 18.63 mil­lion or 28.69 per­cent of last week’s to­tal mar­ket trad­ing value. The Banks sec­tor took the sec­ond place as the sec­tor’s last week turnover was ap­prox. KD 13.33 mil­lion rep­re­sent­ing 20.52 per­cent of the to­tal mar­ket trad­ing value. — Pre­pared by the Stud­ies & Re­search De­part­ment, Bayan In­vest­ment Co.

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