Stock indices wind up week in green zone

Boursa Kuwait ended last week in the green zone. The Premier Market Index closed at 4,797.28 points, up by 0.11 percent, the Main Market Index increased by 1.43 percent after closing at 4,884.25 points, whereas the All-Share Index closed at 4,828.63 points up by 0.58 percent. Furthermore, last week’s average daily turnover decreased by 20.14 percent, compared to the preceding week, reaching KD 9.34 million, whereas trading volume average was 61.32 million shares, recording a decrease of 9.84 percent.

Boursa Kuwait witnessed a positive performance during the last week that enabled it to realize grouped gains for its three indices, whereas it received support from the random purchasing operations that included many listed stocks, especially the leading and operational ones, which positively reflected on the Premier Market Index to transfer to the green zone after the losses it recorded in the previous week. Also, the All-Share and the Main Market indices were able to record weekly increase supported by the quick speculative operations on some small-cap stocks. The market witnessed such performance amid a decreased trading activity compared to the preceding week, where the total cash liquidity dropped to reach KD 46.71 million, down by 20.14 percent, and the total volume of the traded stocks during the last week reached around 306.59 million stock, down by 9.84 percent compared to the previous week.

Moreover, the Boursa realized weekly gains of around KD 430 million, as its market capitalization reached by the end of last week around KD 26.40 billion against KD 25.97 billion in the previous week, with a growth of 1.66 percent. The Boursa market cap losses contracted, since the beginning of the Market Segmentation Phase, to reach about KD 1.45 billion, down by 5.22 percent. (Note: The market capitalization 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).

On the contrary, the Boursa is still witnessing a watch state for the listed companies’ results for the first quarter of the current year, amid fears from the possibility of the inability of some companies to disclose within the disclosure period, especially in light of its delay in announcing its results, despite that the legal disclosure period is about to end at mid of the current month. In addition, the number of the companies that disclosed its results until the end of last week reached 59 company, out of 175 listed company in the Market, with a net profit estimated at KD 409.16 million, and up by 7.14 percent compared to the same companies’ results for the same period of last year, where it reached then KD 381.89 million.

Last week witnessed a trading over 150 stock out of 175 stock listed in the Market, where prices of 56 stock increased against prices of 85 stock decreased, and prices of 34 stock remained at no change. Sectors’ Indices Seven of Boursa Kuwait’s sectors ended last week in the green zone, four recorded decreases, whereas the Health Care index’s closed with no change from the week before. last week’s highest gainer was the Basic Materials sector, achieving 4.92 percent growth rate as its index closed at 1,081.41 points. Whereas, in the second place, the Financial Services sector’s index closed at 985.90 points recording 1.90 percent increase. The Oil & Gas sector came in third as its index achieved 1.71 percent growth, ending the week at 974.62 points.

On the other hand, The Technology sector headed the losers list as its index declined by 3.21 percent to end the week’s activity at 980.17 points. The Telecommunications sector was second on the losers’ list, which index declined by 2.59 percent, closing at 798.82 points, followed by the Consumer Services sector, as its index closed at 1,052.33 points at a loss of 0.46 percent. The Real Estate sector was the least declining as its index closed at 960.57 points with a 0.26 percent decrease. Sectors’ Activity The Financial Services sector dominated a total trade volume of around 113.25 million shares changing hands during last week, representing 36.97 percent of the total market trading volume. The Banks sector was second in terms of trading volume as the sector’s traded shares were 20.83 percent of last week’s total trading volume, with a total of around 63.82 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 20.51 million or 43.92 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 7.27 million representing 15.57 percent of the total market trading value.

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