Mixed per­for­mance ends Boursa’s week

Kuwait Times - - BUSINESS - BOURSA KUWAIT WEEKLY RE­PORT

Boursa Kuwait ended last week with mixed Per­for­mance. The Price In­dex closed at 6,772.09 points, down by 0.57% from the week be­fore clos­ing, the Weighted In­dex in­creased by 0.80% af­ter clos­ing at 402.97 points, whereas the KSX-15 In­dex closed at 920.21 points up by 2.10%. Fur­ther­more, last week’s av­er­age daily turnover in­creased by 103.91%, com­pared to the pre­ced­ing week, reach­ing KD 12.17 mil­lion, whereas trad­ing vol­ume av­er­age was 49.82 mil­lion shares, record­ing an in­crease by 63.71%. Boursa Kuwait wit­nessed a mixed clos­ing to the three in­dices, whereas the Weighted and KSX-15 in­dices recorded growth, while the Price In­dex could not re­al­ize gain, to end the week in the red zone, amid a fluc­tu­ated per­for­mance, and in light of a con­tin­ued con­trol of the spec­u­la­tion method­ol­ogy over the trad­ing be­hav­ior in the mar­ket, which is mainly con­cen­trated on the small-cap stocks.

The mar­ket wit­nessed such per­for­mance in light of a no­tice­able growth in the trad­ing ac­tiv­ity dur­ing most of the daily ses­sions, which caused the to­tal value and vol­ume to grow by the end of the week, where it in­creased by 103.91% and 63.71% re­spec­tively. Also, the profit col­lec­tion op­er­a­tions were not ab­sent from in­flu­enc­ing the trad­ing ac­tiv­ity of the mar­ket dur­ing the week, as the three mar­ket in­dices de­creased in some daily ses­sions, af­fected by such op­er­a­tions, which pushed the Price In­dex to end the week’s trad­ing in the red zone, and lim­ited the Weighted and KSX-15 in­dices’ gains to a cer­tain point.

The Boursa Kuwait added around KD 163 mil­lion in gains to its mar­ket cap in the last five ses­sions of the holy month of Ra­madan, whereas the mar­ket cap­i­tal­iza­tion reached by the end of the week, be­fore the hol­i­day, around KD 26.74 bil­lion, up by 0.61% com­pared to its level in a week ear­lier, where it was KD 26.57 bil­lion. On an an­nual level, the mar­ket cap for the listed com­pa­nies in the mar­ket recorded a growth of 5.23% from its value at end of 2016, where it was then KD 25.41 bil­lion.

As per the daily trad­ing ac­tiv­ity, the mar­ket wit­nessed in the first ses­sion of the last week of Ra­madan a good per­for­mance that en­abled it to record in­creases to its three in­dices, in light of the sup­port re­ceived by the strong pur­chas­ing op­er­a­tions that tar­geted many listed stocks, mainly the lead­ing ones, and es­pe­cially in the Banks sec­tor. Such per­for­mance came amid a good growth in the cash liq­uid­ity com­pared to its level with the pre­vi­ous ses­sion, whereas the value reached at end of Sun­day’s ses­sion KD 12.20 mil­lion, up by about 29%.

Also, the Boursa wit­nessed in the next ses­sion a mixed clos­ings for the three in­dices, whereas the Weighted and KSX-15 in­dices con­tin­ued record­ing gains for the se­cond con­sec­u­tive ses­sion, sup­ported by the con­tin­ued ac­tive trad­ing and the pur­chas­ing op­er­a­tions on the lead­ing stocks, while the Price In­dex de­clined by the end of the ses­sion, af­fected by the profit col­lec­tion op­er­a­tions that tar­geted the small-cap stocks. The mar­ket wit­nessed such per­for­mance in light of a con­tin­ued in­crease in the cash liq­uid­ity for the se­cond con­sec­u­tive ses­sion, where the value recorded an in­crease of 37%, to reach about KD 16.70 mil­lion, its high­est level dur­ing the month.

On the mid-week ses­sion, the Boursa Kuwait wit­nessed a mixed clos­ing to the three in­dices, as the Price In­dex con­tin­ued los­ing points to drop by the end of the ses­sion by 0.68% af­fected by the con­tin­ued profit col­lec­tion op­er­a­tions ex­e­cuted on the small-cap stocks; the Weighted In­dex recorded also a slight de­crease of 0.03% by the end of the ses­sion, while the KSX-15 went against the cur­rent and was able to end the ses­sion in the green zone, sup­ported by the con­tin­ued pur­chas­ing pow­ers on some lead­ing stocks.

More­over, the Boursa wit­nessed in the next ses­sion a neg­a­tive per­for­mance that had a neg­a­tive im­pact on its in­dices’ per­for­mance, which recorded a steep de­cline af­fected by the strong sell­ing pres­sures that tar­geted many stocks of dif­fer­ent sec­tors, es­pe­cially in the Banks sec­tor. This per­for­mance came amid some growth to the value, did not ex­ceed 1% how­ever.

The last ses­sion of the week wit­nessed a mixed clos­ing to the Boursa in­dices, as the Weighted and KSX-15 in­dices were able to in­crease, while the Price In­dex closed in the red zone. The mar­ket wit­nessed such per­for­mance in light of a de­clined trad­ing ac­tiv­ity com­pared to the pre­vi­ous ses­sion, as the value dropped by 41.89%, and the vol­ume de­creased by the end of the ses­sion by 20.92%. For the an­nual per­for­mance, the Price In­dex ended last week record­ing 17.81% an­nual gain com­pared to its clos­ing in 2016, while the Weighted In­dex in­creased by 6.02%, and the KSX-15 recorded 3.98% growth.

Boursa per­for­mance post Eid

Boursa Kuwait re­sumed du­ties last Wed­nes­day and Thurs­day on 28th & 29th June, af­ter it closed dur­ing Eid Al -Fitr, and wit­nessed dur­ing both ses­sions a neg­a­tive per­for­mance where the three in­dices ended the trad­ing in the red zone, as the Price In­dex closed by the end of last Thurs­day’s ses­sion at 6762.82 point, down by 0.14% com­pared to the pre­vi­ous Thurs­day’s clos­ing prior to the Eid hol­i­day, the Weighted In­dex closed at 399.33 point down by 0.90%, and KSX-15 lost about 1.10% af­ter clos­ing at 910.10 point.

On the other hand, the first half of the cur­rent year has ended by the end of last week, as the Boursa closed this pe­riod with lim­ited gains for its three in­dices’ clos­ings, whereas the Price In­dex recorded a growth of 3.49% since the be­gin­ning of the cur­rent year, the Weighted In­dex gains reached 3.53%, and the KSX-15 In­dex grew by 3.49% since the be­gin­ning of the year.

Sec­tors’ in­dices

Seven of Boursa Kuwait’s sec­tors ended last week in the red zone, while the other five recorded in­creases. The Con­sumer Ser­vices sec­tor headed the losers list as its in­dex de­clined by 9.74% to end the week’s ac­tiv­ity at 1,084.19 points. The Oil & Gas sec­tor was se­cond on the losers’ list, which in­dex de­clined by 6.96%, clos­ing at 969.37 points, fol­lowed by the Telecom­mu­ni­ca­tions sec­tor, as its in­dex closed at 590.14 points at a loss of 2.62%. The In­sur­ance sec­tor was the least de­clin­ing as its in­dex closed at 1,077.95 points with a 0.39% de­crease.

On the other hand, last week’s high­est gainer was the Health Care sec­tor, achiev­ing 12.66% growth rate as its in­dex closed at 1,635.51 points. Whereas, in the se­cond place, the In­dus­trial sec­tor’s in­dex closed at 1,887.07 points record­ing 3.64% in­crease. The Ba­sic Ma­te­ri­als sec­tor came in third as its in­dex achieved 0.86% growth, end­ing the week at 1,254.03 points.

Sec­tors’ ac­tiv­ity

The Fi­nan­cial Ser­vices sec­tor dom­i­nated a to­tal trade vol­ume of around 79.28 mil­lion shares chang­ing hands dur­ing last week, rep­re­sent­ing 31.83% of the to­tal mar­ket trad­ing vol­ume. The Banks sec­tor was se­cond in terms of trad­ing vol­ume as the sec­tor’s traded shares were 30.06% of last week’s to­tal trad­ing vol­ume, with a to­tal of around 74.88 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 27.08 mil­lion or 44.50% 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 15.95 mil­lion rep­re­sent­ing 26.21% of the to­tal mar­ket trad­ing value.

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