Boursa Kuwait gains on pos­i­tive sen­ti­ment

Kuwait Times - - BUSINESS - Sec­tors’ In­dices Sec­tors’ Ac­tiv­ity

KUWAIT: Boursa Kuwait ended last week in the green zone. The Price Index closed at 5,668.49 points, up by 1.42 per­cent from the week be­fore clos­ing, the Weighted Index in­creased by 1.35 per­cent af­ter clos­ing at 378.35 points, whereas the KSX-15 Index closed at 889.68 points up by 1.93 per­cent. Fur­ther­more, the week’s av­er­age daily turnover in­creased by 9.57 per­cent, com­pared to the pre­ced­ing week, reach­ing KD 17.79 mil­lion, whereas trad­ing vol­ume av­er­age was 214.38 mil­lion shares, record­ing an in­crease of 29.18 per­cent.

The three stock in­dices were able to close in the green zone for the sec­ond con­sec­u­tive week, which came amid the con­tin­ued pur­chas­ing trend that is con­cen­trat­ing this pe­riod on the lead­ing and op­er­a­tional stocks which is ex­pected to an­nounce pos­i­tive fi­nan­cial re­sults for the year 2016. The pur­chas­ing op­er­a­tions wit­nessed by the Boursa dur­ing most of the daily ses­sions of the week were re­flected on the per­for­mance of all the mar­ket in­di­ca­tors, es­pe­cially the Price Index which was able to com­pen­sate all its losses recorded since the be­gin­ning of the year, where it ended the week’s trad­ing ac­tiv­ity with an an­nual growth of 0.95 per­cent.

As per the daily trad­ing ac­tiv­ity; the three Boursa in­dices wit­nessed growth in the first ses­sion of last week, sup­ported by the ac­tive trad­ing and the ran­dom pur­chas­ing op­er­a­tions that in­cluded many listed stocks headed by the lead­ing ones in the Banks sec­tor, in ad­di­tion to the spec­u­la­tive op­er­a­tions that in­cluded few small-cap stocks; the Boursa re­al­ized such gains de­spite the de­crease in the trad­ing ac­tiv­ity com­pared to the pre­vi­ous ses­sion, where the liq­uid­ity level de­clined by the end of the ses­sion by 26 per­cent, while the traded stocks vol­ume dropped by 15 per­cent.

The three Boursa in­dices con­tin­ued record­ing grouped gains for the sec­ond con­sec­u­tive ses­sion amid the con­tin­ued pur­chas­ing op­er­a­tions ex­e­cuted on many listed stocks es­pe­cially the lead­ing and op­er­a­tional ones, which contributed into redi­rect­ing the Price Index to the green zone on an an­nual level, where it com­pen­sated all its losses recorded since the end of 2015, amid a no­tice­able growth in the trad­ing in­di­ca­tors com­pared to the pre­vi­ous ses­sion, where the liq­uid­ity level in­creased by 51 per­cent, and the traded stocks grew by 35 per­cent. Also, the Boursa con­tin­ued its up­ward di­rec­tion in the mid-week ses­sion, as the three in­dices grew by the end of the ses­sion amid a drop in the trad­ing in­di­ca­tors com­pared to the pre­vi­ous ses­sion, where the value de­clined by 44 per­cent, and the vol­ume de­creased by 18 per­cent.

Boursa Kuwait wit­nessed on Wed­nes­day’s ses­sion a mixed clos­ings for the three in­dices, as the Weighted and KSX15 in­dices de­clined af­fected by the profit col­lec­tion op­er­a­tions that in­cluded some lead­ing stocks, while the Price Index was able to con­tinue its up­ward di­rec­tion, which is been adopt­ing since the be­gin­ning of the week, in light of the pur­chas­ing op­er­a­tions wit­nessed in the last few mo­ments of the ses­sion , and con­cen­trated on some small­cap stocks. This per­for­mance came in light of the in­creased trad­ing lev­els com­pared to the pre­vi­ous ses­sion, where the fi­nan­cial liq­uid­ity grew by 36 per­cent, while the vol­ume in­creased by 43 per­cent.

On the end of week ses­sion, the fluc­tu­a­tion con­tin­ued to over con­trol the in­dices’ clos­ings for the sec­ond con­sec­u­tive ses­sion, with chang­ing po­si­tions, where the Weighted and KSX-15 in­dices were able to re­turn to the green zone sup­ported by the re­turn of the pur­chas­ing op­er­a­tions on the lead­ing stocks, while the Price Index de­clined af­fected by the profit col­lec­tion op­er­a­tions ex­e­cuted on the small-cap stocks.

By the end of the week, the mar­ket cap­i­tal­iza­tion for the listed stocks in the pri­mary mar­ket reached KD 26.20 bil­lion, up by 2.22 per­cent com­pared to its level in a week ear­lier, where it reached then KD 25.63 bil­lion. On an an­nual level, the mar­ket cap for the listed com­pa­nies in the pri­mary mar­ket grew by 3.69 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 0.95 per­cent an­nual gain com­pared to its clos­ing in 2015, while the weighted index de­creased by 0.88 per­cent, and the KSX-15 recorded 1.19 per­cent loss.

Ten of Boursa Kuwait’s sec­tors ended last week in the green zone, while the other two recorded de­clines. Last week’s high­est gainer was the Real Es­tate sec­tor, achiev­ing 2.69 per­cent growth rate as its index closed at 874.95 points. Whereas, in the sec­ond place, the Ba­sic Ma­te­ri­als sec­tor’s index closed at 995.21 points record­ing 2.17 per­cent in­crease. The In­dus­trial sec­tor came in third as its index achieved 1.78 per­cent growth, end­ing the week at 1,290.62 points.

On the other hand, the Tech­nol­ogy sec­tor headed the losers list as its index de­clined by 0.86 per­cent to end the week’s ac­tiv­ity at 612.15 points. The In­sur­ance sec­tor was sec­ond on the losers’ list, which index de­clined by 0.51 per­cent, clos­ing at 945.61 points.

The Fi­nan­cial Ser­vices sec­tor dom­i­nated a to­tal trade vol­ume of around 417.73 mil­lion shares chang­ing hands dur­ing last week, rep­re­sent­ing 38.97 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 36.43 per­cent of last week’s to­tal trad­ing vol­ume, with a to­tal of around 390.51 mil­lion shares.

On the other hand, the Banks sec­tor’s stocks were the high­est traded in terms of value; with a turnover of around K.D 28.26 mil­lion or 31.78 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 20.53 mil­lion rep­re­sent­ing 23.09 per­cent of the to­tal mar­ket trad­ing value.

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