Boursa Kuwait ends week in the green
KUWAIT: The Premier Market Index closed at 4,690.55 points, up by 0.06%, the Main Market Index increased by 0.15% after closing at 4,816.34 points, whereas the All-Share Index closed at 4,735.72 points up by 0.09%. Furthermore, last week’s average daily turnover increased by 34.70%, compared to the preceding week, reaching K.D 10.18 million, whereas trading volume average was 58.32 million shares, recording an increase of 49. 26%. The Market was able to record some gains for its three indices affected by the purchasing operations executed on some leading and small-cap stocks in light of a fluctuated performance due to the presence of the speculative operations in affecting the trading activity in the Market.
Despite the small gains realized by the Market on the weekly level, it witnessed many declines in some daily sessions of the week, as a result to the selling pressures it was subject to and included many stocks. The Market was able to realize its gains in parallel with the increased trading activity compared to the previous week, whereas the total cash liquidity increased by the end of the week to reach KD 50.92 million, up by 34.70%, while the number of the traded stocks grew to reach 58.32 stock, up by around 49.26%.
The market capitalization for the Boursa increased by approximately KD 46.5 million, as it reached by the end of last week KD 26.10 billion against KD 26.05 billion in the previous week, and up by 0.18%. The market cap losses since the new market segmentation reached KD 1.76 billion, down by 6.31%. (Note: The market cap for the listed companies in the Market is calculated based on the weighted average number of outstanding shares as per the latest available official financial statements). Moreover, last week witnessed trading over 143 stock out of 175 listed stock in the Market, where prices of 66 stock increased against prices of 59 stock decreased, and prices 50 stock remained at no change.
Sectors’ indices
Six of Boursa Kuwait’s sectors ended last week in the green zone, five recorded decreases, whereas the Health Care index’s closed with no change from the week before. last week’s highest gainer was the Oil & Gas sector, achieving 3.33% growth rate as its index closed at 1,038.09 points. Whereas, in the second place, the Insurance sector’s index closed at 926.82 points recording 1.69% increase. The Consumer Services sector came in third as its index achieved 1.18% growth, ending the week at 1,064.44 points.
On the other hand, The Telecommunications sector headed the losers list as its index declined by 1.47% to end the week’s activity at 790.96 points. The Industrial sector was second on the losers’ list, which index declined by 0.86%, closing at 946.97 points, followed by the Consumer Goods sector, as its index closed at 870.41 points at a loss of 0.66%. The Real Estate sector was the least declining as its index closed at 950.33 points with a 0.03% decrease.
Sectors’ activity
The Financial Services sector dominated a total trade volume of around 116.68 million shares changing hands during last week, representing 40.05% of the total market trading volume. The Banks sector was second in terms of trading volume as the sector’s traded shares were 28.65% of last week’s total trading volume, with a total of around 83.49 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 29.13 million or 57.22% 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 6.44 million representing 12.66% of the total market trading value.