Kuwait stocks close flat at 0.91 pts in choppy trade
Kuwait Cable Vision makes biggest advance
By Cinatra Fernandes
Arab Times Staff
Telecommunications stood at 589.05 points, marking a 1.45 point retreat with a significant reduction in volume and value traded as compared to the previous session. Viva stood its ground, ending the week at 990 fils while Ooredoo stood firm at KD 1.040 albeit with low activity. Zain eased 5 points lower to 340 fils and traded 3.24 million shares while Hits Telecom Holding Co closed flat at 28 fils, trading 2.57 million shares of its stock.
Banks closed at 906.49 points, up by 1.65 points, accounting for 10.485 of the total market volume and 22.92% of the total market value. National Bank of Kuwait closed at 810 fils, logging no change from the previous session while Gulf Bank closed flat at 265 fils. Kuwait International Bank took a 2 point dive to 220 fils while Commercial Bank of Kuwait closed at an inert 500 fils. Burgan Bank ckised flat at 385 fils while Kuwait Finance House stepped 10 points higher to 560 fils. Ithmaar Bank took a 1 point hike to 42.5 fils while Boubyan Bank and Warba Bank closed flat at 435 fils and 198 fils. Petroleum Group shot up by 6 points to 248 fils. Al-Safat Energy Holding moved 0.5 points upwards to 13.5 fils and Ikarus Petroleum Industries Co clambered 1 point higher to 93 fils. Burgan Company For Well Drilling, Trading & Maintenance shed 8 points to 124 fils while National Petroleum Services Company took a 10 point jump to 600 fils.
Industrials made a 0.78 point climb to 1060.26 points. Agility Public Warehousing Company took a 10 point nose dive to 480 fils while Ras Al Khaimah Co. For White Cement & Construction slithered 4 points lower to 100 fils. Shuaiba Industrial Co made a 25 point rise to 420 fils and National Ranges Company skimmed 0.5 points lower to 21 fils.
In consumer goods, Kuwait Food Company (Americana) took a 100 point downturn to KD 1.9. Mezzan Holding Co took a 20 point cut to KD 1.140 while Danah Al Safat Foodstuff Company trekked 1 point higher to 83 fils and Livestock Transport & Trading Co skid 4 points lower to 124 fils. In consumer Services, Zima Holding Co closed flat at 114 fils while Jazeera Airways Co soared 20 points higher to 900 fils.
In technology, Hayat Communications Co paced 1.5 points lower to 46 fils and Future Communications Co. Global shed 4 points lower to 114 fils. In basic materials, Qurain Petrochemical Industries Company and Boubyan Petrochemical Company closed flat at 186 fils and 500 fils respectively.
In the healthcare sector, Yiaco Medical Co moved up 6 points to 170 fils and in the insurance sector, Kuwait Insurance Company and Warba Insurance Company closed flat at 305 fils and 102 fils respectively while Wethaq Takaful Insurance Company ebbed 1.5 point lower to 40 fils.
In related news, Burgan Bank obtained the approval of Central Bank of Kuwait and Capital Markets Authority to issue bonds for its holders at a maximum of KD 100 million to use its incomes for additional improvement of capital base.
National Investments Company announced the approval of Capital Markets Authority on to buy back or sell a maximum of 10% of its shares for 6 months as of the date of the approval.