Boursa Kuwait ends in green zone

Kuwait Times - - BUSINESS -

KUWAIT: Boursa Kuwait ended last week in the green zone. The Price In­dex closed at 6,788.48 points, up by 1.62 per­cent from the week be­fore clos­ing, the Weighted In­dex in­creased by 1.87 per­cent af­ter clos­ing at 404.62 points, whereas the KSX-15 In­dex closed at 922.29 points up by 1.65 per­cent. Fur­ther­more, the week’s av­er­age daily turnover in­creased by 28.60 per­cent, com­pared to the pre­ced­ing week, reach­ing KD 11.93 mil­lion, whereas trad­ing vol­ume av­er­age was 77.78 mil­lion shares, record­ing an in­crease of 60.34 per­cent.

The Boursa was able to re­di­rect its path to the up­ward di­rec­tion and its three in­dices were able to re­al­ize dif­fer­ent gains by the end of the week, es­pe­cially the Price In­dex which ben­e­fited from the no­tice­able spec­u­la­tive ac­tiv­ity on the small-cap and idle stocks, that been traded be­low 100 Fils, and wit­nessed a no­tice­able de­cline over the last pe­riod, which made it tempt­ing for pur­chase. Also, some lead­ing stocks wit­nessed a pur­chas­ing ac­tiv­ity that was re­flected on the per­for­mance of the Weighted and KSX-15 in­dices, that ac­com­pa­nied the Price In­dex in the green zone dur­ing this week.

In ad­di­tion, the Boursa gained over KD 480 mil­lion dur­ing the last five ses­sions, as the mar­ket cap­i­tal­iza­tion for the listed com­pa­nies in the of­fi­cial mar­ket reached KD 26.72 bil­lion, up by 1.83 per­cent from its level in the pre­vi­ous week, where it was KD 26.24 bil­lion. On an an­nual level, the mar­ket cap gain for the listed com­pa­nies in the of­fi­cial mar­ket in­creased to reach 50.16 per­cent com­pared to its value at end of 2016, where it was KD 25.41 bil­lion.

As per the daily trad­ing ac­tiv­ity, the Boursa Kuwait ini­ti­ated the first ses­sion of the week with dif­fer­ent gains to the three in­dices, es­pe­cially the Price In­dex, which in­creased by more than 43 point as a re­sult to the quick and ac­tive spec­u­la­tions that con­cen­trated on the small-cap stocks, in ad­di­tion to the sup­port that mar­ket re­ceived from the ran­dom pur­chas­ing op­er­a­tions tar­geted some lead­ing stocks, though the mar­ket gains came de­spite the de­cline in the liq­uid­ity lev­els by the end of the ses­sion, whereas the value de­creased by 13.8 per­cent.

More­over, the mar­ket con­tin­ued re­al­iz­ing gains for its three in­dices in the sec­ond ses­sion of the week amid a con­tin­ued con­trol of the spec­u­la­tive be­hav­ior over the trad­ing ac­tiv­ity, in ad­di­tion to the strong col­lec­tion move on a num­ber of lead­ing stocks, es­pe­cially in the Banks sec­tor. Such per­for­mance came in light of a no­tice­able in­crease in the trad­ing ac­tiv­ity com­pared to the pre­vi­ous ses­sion, es­pe­cially the cash liq­uid­ity, as it recorded by the end of the ses­sion a growth of around 90 per­cent.

On the mid-week ses­sion, the Boursa Kuwait con­tin­ued re­al­iz­ing in­crease for the three in­dices sup­ported by the strong pur­chas­ing trend that in­cluded many lead­ing and small-cap stocks, in ad­di­tion to the quick spec­u­la­tive op­er­a­tions that con­cen­trated on some idle stocks. Such per­for­mance came amid a con­tin­ued in­crease in the three in­dices, es­pe­cially the vol­ume and the value, which in­creased by 13 per­cent and 15 per­cent re­spec­tively by the end of the ses­sion.

On Wed­nes­day’s ses­sion, the Price In­dex and the Weighted In­dex closed in the green zone for the fourth con­sec­u­tive ses­sion dur­ing the same week, as the KSX-15 In­dex ended the ses­sion with­out change, and came in light of a lim­ited de­cline in the cash liq­uid­ity by the end of the ses­sion, as it dropped by around 12 per­cent com­pared to Tues­day’s ses­sion. On the end of week ses­sion, the three in­dices closed in the red zone, af­fected by the profit col­lec­tion op­er­a­tions ex­e­cuted by many traders, es­pe­cially af­ter the no­tice­able in­creases of some stocks dur­ing the pre­vi­ous ses­sions.

For the an­nual per­for­mance, the Price In­dex ended last week record­ing 18.10 per­cent an­nual gain com­pared to its clos­ing in 2016, while the Weighted In­dex in­creased by 6.45 per­cent, and the KSX-15 recorded 4.21 per­cent growth.

Sec­tors’ In­dices

All of Boursa Kuwait’s sec­tors ended last week in the green zone. Last week’s high­est gainer was the Telecom­mu­ni­ca­tions sec­tor, achiev­ing 5.18 per­cent growth rate as its in­dex closed at 598.27 points. Whereas, in the sec­ond place, the Oil & Gas sec­tor’s in­dex closed at 1,036.75 points record­ing 2.49 per­cent in­crease. The Real Es­tate sec­tor came in third as its in­dex achieved 2.42 per­cent growth, end­ing the week at 945.06 points. The In­sur­ance sec­tor was the least grow­ing as its in­dex closed at 1,010.17 points with a 0.03 per­cent in­crease.

Sec­tors’ Ac­tiv­ity

The Fi­nan­cial Ser­vices sec­tor dom­i­nated a to­tal trade vol­ume of around 154.98 mil­lion shares chang­ing hands dur­ing last week, rep­re­sent­ing 39.85 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 29.65 per­cent of last week’s to­tal trad­ing vol­ume, with a to­tal of around 115.33 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 46.68 mil­lion or 32.54 per­cent of last week’s to­tal mar­ket trad­ing value. The Real Es­tate sec­tor took the sec­ond place as the sec­tor’s last week turnover was ap­prox. KD 39.22 mil­lion rep­re­sent­ing 27.34 per­cent of the to­tal mar­ket trad­ing value.

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