All three indices end week in green zone
Boursa Kuwait ended last week in the green zone. The Premier Market Index closed at 5,180.40 points, up by 5.62%, the Main Market Index increased by 1.14% after closing at 4,919.16 points, and the All-Share Index closed at 5,087.64 points up by 4.03%. Furthermore, last week’s average daily turnover increased by 44.31%, compared to the preceding week, reaching K.D 26.04 million, whereas trading volume average was approx.115 million shares, recording an increase of 37.97%.
Boursa Kuwait succeeded during the last week in recording a noticeable jump for the first time since the market segmentation on last April, and was able to continue its increase realizing gains for its three indices for the second consecutive week, to end the first week of the third quarter of the current year positively, compensating most of its losses it recorded since the segmentation, whereas both the Premier Market Index and the All-Share Index were able to cross the 5,000 point level up, while the Main Market Index could not follow its peers to close below the base point by around 80 point.
The market outperformed as a result to the purchasing power support it received during most of the week’s sessions, that concentrated mostly on the leading and operational stocks listed in the Premier Market Index, especially in the Banks sector. Also, such performance came in parallel with the noticeable increase in the trading activity, especially the cash liquidity, which increased rapidly during the week and reached high levels that didn’t witness in a while, as it recorded in the mid-week session an increase of 144.60%, and reached on Wednesday’s session K.D. 42.03 million, its highest level since the application of the new market segmentation, which was positively reflected on the total trading value of the last week, that reached K.D. 130.20 million, up by 44.31% compared to the previous week.
As far as the weekly performance of Boursa Kuwait, the Boursa realized weekly gains of K.D. 1.06 billion, as its market capitalization reached by the end of last week around K.D. 28 billion, up by 3.95% of its level in the previous week, where it was K.D. 26.94 billion, considering the de-listing of (Kuwait Gypsum Manufacturing & Trading Company) from the market during the last week, as its market cap of around K.D. 2.84 million was deducted
from the total market cap. In addition, by the end of the week, Boursa Kuwait market cap gains since the new market segmentation reached about K.D. 142.47 million, up by 0.51%. (Note: The market cap of the listed companies in the Boursa is calculated based on the weighted average number of the outstanding shares as per the latest available official financial statements).
Moreover, the leading and operational stocks continued to over control the trading activity in the market during the last week, especially the Banks stocks which acquired most of the traded cash liquidity during the last week, whereas the trading value of the Banks sector reached around K.D. 71.38 million, representing over than 54% of the total market liquidity of around K.D. 130.20 million during the last week.
Moreover, last week witnessed trading over 151 stock out of 174 listed stock in the Market, where prices of 94 stock increased against prices of 41 stock decreased, and prices of 39 stock remained at no change.
Sectors’ Indices
Nine of Boursa Kuwait’s sectors ended last week in the green zone, and three recorded declines. Last week’s highest gainer was the Telecommunications sector, achieving 7% growth rate as its index closed at 941.03 points. The Banks sector came in the second place, as its index closed at 1,046.15 points recording
4.87% increase. The Consumer Goods sector came in third as its index achieved 4.32% growth, ending the week at 928.67 points.
On the other hand, the Technology sector headed the losers list as its index declined by 7.69% to end the week’s activity at 873 points, The Oil & Gas sector was second on the losers’ list, which index declined by 0.88%, closing at 1,052.17 points, followed by the Health Care sector, as its index closed at 998.53 points at a loss of 0.04%.
Sectors’ Activity
The Banks sector dominated a total trade volume of around 190.90 million shares changing hands during last week, representing 33.20% of the total market trading volume. The Financial Services sector was second in terms of trading volume as the sector’s traded shares were 28.53% of last week’s total trading volume, with a total of around 164.04 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 71.38 million or 54.82% of last week’s total market trading value. The Telecommunications sector took the second place as the sector’s last week turnover was approx. K.D. 15.34 million representing 11.78% of the total market trading value.
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