Kuwait’s bourse closes higher; volume picks up

Banking sector ends 0.49 pct higher

By Cinatra Fernandes

Arab Times Staff

KUWAIT CITY, Dec 21: Kuwait stocks pulled 0.75% higher to stand at 5,613.66 points with most sectors closing with green indices. The weighted index inched 2.03 points higher to 382.49 points.

The KSE benchmark steered 5.41 points upwards to 907.43 points. Volume traded in the bourse picked up from Sunday’s low turnover to stand at 108.35 million shares for a total value of KD 10.28 million in 2,723 trades. 127 counters remained active in the session, 69 of these advances, 24 retreated and 34 closed flat.

Kuwait Cable Vision topped the list of gainers on the trading floor with a 11.11% rise to 25 fils and Manazel Holding followed in close step with a 10.64% increase to 26 fils.

Al-Massaleh Real Estate Co closed at 59 fils with a 9.26% upswing and Burgan Company For Well Drilling, Trading & Maintenance made a 8.62% augment to 126 fils. At the same time, Al Mudon Intl. Real Estate Co finished at 33 fils, marking a 8.2% upturn.

Securities Group Company, on the other hand, fell by 9.09% to 100 fils to become the biggest loser of share price among active counters. Gulf Glass Manufacturing Co took a 7.55% slump to 490 fils and Gulf Franchising Holding Co trailed 7.14% lower to 32.5 fils.

Aqar Real Estate Investments Co, meanwhile, made a 6.25% retreat to 75 fils and Sanam Real Estate Co trudged 5.62% lower to 42 fils.

Manazel Holding traded the largest volume of the day of 17.92 million shares with GFH Financial Group witnessing robust activity of 10.19 million shares. Al-Madina For Finance And Investment Co, in the meantime, moved 8.9 million shares of its stock while Al Dar National Real Estate Co exchanged 5.92 million shares and Investors Holding Group Company traded 5.87 million shares on the floor.

The telecommunications index stood at 599.11 points at the day’s close accounting for 4.76 of the total market volume and 9.17% of the total value.

Zain took a 10 point hike to 355 fils and traded 2.48 million shares on the trading floor while Hits Telecom Holding Co closed at 29 with a 1 point climb, trading 2.66 million of its shares. Ooredoo stood firm at KD 1.04 with low activity.

Banks closed 0.49% higher at 905.8 points accounting for 8.10% of the total market volume and 44.71% of the total value.

National Bank of Kuwait held its ground at 810 fils and traded 4.67 million shares for a total value of KD 3.78 million. Gulf Bank closed flat at 265 fils as did Commercial Bank of Kuwait with its 500 fils shares price.

Kuwait International Bank made a 2 point trek upwards to 222 fils and Burgan Bank moved 5 points higher to 385 fils. Kuwait Finance House, at the same time, logged no change in its share price of 550 fils and Boubyan Bank rose by 5 points for a 440 fils finish. Warba Bank closed flat at 196 fils and Ithmaar Bank inched 1 point higher to 43 fils.

The Real Estate sector stood at 937.4 points with marked increases in volume and value traded as compared to the start of the week.

The sector made up 24.16% of the total market volume and 12.33% of the total value of the session. Munshaat Real Estate Projects Co made a 4 point upturn to 87 fils trading 5.24 million shares and Al Dar National Real Estate Co inched 0.5 points higher to 27.5 fils.

Investors Holding Group Company clambered 1 point higher to 25 fils while Sokouk Holding Co took a 2.5 point step upwards to 42.5 fils.

Mabanee Company held steady at 950 fils while Al Mudon Intl. Real Estate Co scaled 2.5 points higher to 33 fils.

The financial

services

index closed at 597.6 points making up 48.57% of the total market volume and 17.87% of the total value. Manazel Holding made a 2.5 point jump to 26 fils while GFH Financial Group strode 2 points higher to 35 fils. Al-Madina For Finance And Investment Co closed flat at 33.5 fils and The Securities House made a slight 0.5 point turn to the green at 38 fils while National Industries Group moved 4 points higher tp 128 fils.

Oil and gas closed 1.12% higher at 787.3 points. Gulf Petroleum Investment rose by 1 point to 53 fils and Al-Safat Energy Holding closed flat at 12.5 fils with Ikarus Petroleum Industries Co staying stale at 92 fils. Burgan Company For Well Drilling, Trading & Maintenance lifted 10 points higher to 126 fils.

Industrials closed at 1048.8 points in the green. Agility Public Warehousing Company advanced 10 points to 485 fils and Education Holding Group dropped 6 points down to 210 fils. Mushrif Trading & Contracting Co with a 4 point swell, closed at 70 fils while Equipment Holding Co finished at 59 fils, moving up 3 points. National Ranges Company, at the same time, closed at 22 fils, 1.5 points higher.

In Consumer goods, Mezzan Holding Co stood at KD 1.160 with a 20 point boost and Danah Al Safat Foodstuff Company edged 1 point lower to 83 fils. Kuwait Food Company (Americana) stood firm at KD 1.980. In Consumer Services, Zima Holding Co moved 6 points up to 120 fils and Jazeera Airways Co stood at 910 fils with a 10 point upturn.

In the technology sector, Hayat Communications Co tracked 1.5 points lower to 45.5 fils while Automated Systems Company closed at a flat 325 fils. In Basic Materials, Qurain Petrochemical Industries Company shuffled 2 points higher to 188 fils while Boubyan Petrochemical Company stood at a firm 520 fils. In healthcare, Yiaco Medical Co budged 8 points higher to 178 fils and in the Insurance sector, no counters were active in the session.