Boursa Kuwait turns bear­ish, in­dices drop

Kuwait Times - - Business -

KUWAIT: Boursa Kuwait ended last week in the red zone. The Pre­mier Mar­ket In­dex closed at 5,257.16 points, down by 1.09 per­cent, the Main Mar­ket In­dex de­clined by 0.49 per­cent af­ter clos­ing at 4,718.42 points, and the All-Share In­dex closed at 5,065.81 points down by 0.89 per­cent. Fur­ther­more, last week’s av­er­age daily turnover de­creased by 5.66 per­cent, com­pared to the pre­ced­ing week, reach­ing around KD 11.10 mil­lion, whereas trad­ing vol­ume av­er­age reached around 66.73 mil­lion shares, record­ing a drop of 11.98 per­cent.

The Boursa lost around KD 255 mil­lion, as the mar­ket cap­i­tal­iza­tion for the to­tal listed stocks dropped by the end of last week to reach about KD 28.35 bil­lion against KD 28.60 bil­lion in a week ear­lier, down by 0.89 per­cent. The Boursa gains since the ap­pli­ca­tion of the new mar­ket seg­men­ta­tion con­tracted to reach around KD 490.50 mil­lion or 1.76 per­cent. (Note: The Mar­ket cap­i­tal­iza­tion for the listed com­pa­nies in the Boursa is cal­cu­lated based on the weighted av­er­age num­ber of out­stand­ing shares as per the lat­est avail­able of­fi­cial fi­nan­cial state­ments).

In ad­di­tion, the weak per­for­mance wit­nessed by the Boursa dur­ing the last week was caused by some in­vestors’ re­frain from trad­ing, es­pe­cially in light of the wait­ing state for the listed com­pa­nies re­sults for the third quar­ter pe­riod of the cur­rent year, in ad­di­tion to the ac­tive profit col­lec­tion op­er­a­tions that the Boursa is wit­ness­ing for the past cou­ple of weeks. Also, this per­for­mance came in par­al­lel with the drop of the trad­ing in­di­ca­tors, whereas the to­tal num­ber of traded stocks de­creased by 11.98 per­cent reach­ing 333.67 mil­lion stock, while the to­tal trad­ing value de­clined by 5.66 per­cent to reach KD 59.99 mil­lion.

More­over, the sell­ing pres­sures wit­nessed by the Boursa con­cen­trated on many listed stocks in the Mar­ket, headed by the stocks listed in the Pre­mier Mar­ket, which was re­flected on the Pre­mier Mar­ket In­dex, the most de­clin­ing in­dex among the three Mar­ket in­dices, as it recorded a loss of 1.09 per­cent by the end of last week. Last week wit­nessed trad­ing over 147 stock out of 175 listed stock in the Mar­ket, where prices of 43 stock in­creased against prices of 88 stock de­creased, and prices of 44 stock re­mained at no change.

Sec­tors’ in­dices

Eight of Boursa Kuwait’s sec­tors ended last week in the red zone, while two recorded in­creases, and the Health Care & Tech­nol­ogy sec­tors re­mained at no change. Last week’s high­est loser was the Con­sumer Goods sec­tor, as its in­dex de­clined by 2.10 per­cent to end the week’s ac­tiv­ity at 815.54 points. The In­dus­trial sec­tor was sec­ond on the losers’ list, which in­dex de­clined by 1.59 per­cent, clos­ing at 967.69 points, fol­lowed by the Real Es­tate sec­tor, which in­dex de­clined by 1.49 per­cent, clos­ing at 871.47 points. On the other hand, last week’s high­est gainer was the Ba­sic Ma­te­ri­als sec­tor, achiev­ing 4.21 per­cent growth rate as its in­dex closed at 1,225.83 points. The In­sur­ance sec­tor came in the sec­ond place, as its in­dex closed at 962.42 points record­ing 0.08 per­cent in­crease.

Sec­tors’ ac­tiv­ity

The Fi­nan­cial Ser­vices sec­tor dom­i­nated a to­tal trade vol­ume of around 101.43 mil­lion shares chang­ing hands dur­ing last week, rep­re­sent­ing 30.40 per­cent of the to­tal mar­ket trad­ing vol­ume. The Banks sec­tor was sec­ond in terms of trad­ing vol­ume as the sec­tor’s traded shares were 28.15 per­cent of last week’s to­tal trad­ing vol­ume, with a to­tal of around 93.92 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 31.18 mil­lion or 51.97 per­cent 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 7.22 mil­lion rep­re­sent­ing 12.04 per­cent of the to­tal mar­ket trad­ing value. — Pre­pared by the Stud­ies & Re­search Depart­ment , Bayan In­vest­ment Co.

Newspapers in English

Newspapers from Kuwait

© PressReader. All rights reserved.