Kuwait equities come under selling pressure
KFH Capital Weekly Report
The KSE Indices witnessed a negative week as indices decreased this week. The KSE price index closed at 6,711.16 an decrease of 0.83 percent down 55.88 points compared to the previous week. As the MUDX witnessed an decrease this week of 1.57 percent to close at 653.95 for the week. Furthermore, the market blue-chip index the KSX15 closed on an decrease of 3.79 points down 0.39 percent during the week to close at 966.70.
The reported weekly volumes were 1,384.63 million shares compared to 1,042.53 million shares in previous. Among the major contributors, the Financial Services Sector (contributing 39.99 percent) witnessed 553.69 million shares of trading compared to 351.41 million shares in the previous week, while Real Estate Sector (contributing 26.33 percent) witnessed 364.64 million shares of trading compared to 372.97 million shares in the previous week.
The overall Market Cap witnessed an decrease this week as it stood at KWD 28.98 billion down 0.6 percent on weekly basis. As for the blue chips, National Bank of Kuwait - NBK (Mcap - KD 4.26billion) saw its market cap decreased by 1.32 percent during the week. However, Mobile Telecommunication Co. - Zain ( Mcap - KD 2.092 billion) saw its market cap increased by 2.11 percent during the week . Ahli United Bank - AUB (Mcap - KD 1.663 billion) saw it market cap increase by 1.67 percent during the week. On the total market breadth, Of the 56 Islamic Companies,11 advanced while 35 declined during the week.
The Islamic universe market cap witnessed its market cap an decrease of 1.83 percent to close at KD 8,010 billion. The universe heavyweights Kuwait Finance House - KFH (Mcap - KD 3.197 billion) saw its market cap unchanged during the week . However,, Boubyan Bank (Mcap - KD 909.89 million) saw its market cap decrease by 2.32 percent this week. Furthermore GFH Financial Group (Mcap - KD 478.4 million) saw its market gap a significant decreased by 12.40 percent. while, Kuwait Telecommunication Co - VIVA (Mcap- KD 409.51 million) saw its market unchanged during the week.