Kuwait index closes week in green zone

Zain climbs10 fils, KIB slips

By Cinatra Alvares

Arab Times Staff

KUWAIT CITY, Aug 1: Kuwait stocks rallied upwards at the end of the week, extending previous gains as most major sectors posted green indices. The All Share Price rose to 6,126.46 points, up 10.16%.

The Premier Market saw a 0.14% uptick to 6,735.55 points and the Main Market logged a 0.22% upswing to a 4,892.23 close. Of the 123 counters that traded during the session, 61 advanced, 45 retreated and 17 closed flat. Over 187 million shares were traded for a turnover of KD 37.08 million. The market dipped low in early trade but swelled during midday and through the final hour.

Warba Insurance Company was the top gainer of the day, closing the session at 72.8 fils with a 9.97% upturn. Followed in close step by Taameer Real Estate Investment Company who stood at 21 fils after a 8.81% increase. At the same time, The Energy House Co also marked a 7.5% rise to a 21.5 fils share price and Aayan Real Estate Company gained 5.88% in the session for a 61.2 fils close. Arabi Holding Group Co counted itself among the day’s top winners with a 5.53% spike to 83.9 fils albeit with marginal trade.

Among notable losers on the trading floor, IFA Hotels and Resorts Co took a 10.74% dive to 56.5 fils. Meanwhile, Umm Al Qaiwain General Investments Co eased lower to 71.1 fils, posting a 10% decline. Al Eid Food Co also dropped to 68.6 fils with a 9.97% contraction and Boubyan Petrochemical Co receded to a 788 fils close, down by 9.32% and Warba Capital Holding Co pared 8.75% lower to 72 fils at the end of the session.

Arzan Financial group for Financing and Investment traded the top volume of the day with 34.43 million of its shares exchanged. Kuwait International Bank and National Industries Group also saw robust activity with 11.47 million shares and 11.17 million shares exchange respectively.

The banking sector closed at 1,427.59 points for the biggest turnover of KD 17.34 million in the session. Kuwait Finance House and National Bank of Kuwait inched 1 point higher to 781 fils and KD 1. Kuwait International Bank (KIB) slid 3 points down to 285 fils and Gulf Bank dipped 1 point lower to 317 fils. Ahli United Bank trekked 1 point higher to a 289 fils close and Warba Bank scaled 2 points up to 259 fils. Burgan Bank made a 1 point increment to 353 fils while Boubyan Bank and Commercial Bank of Kuwait stepped 2 points higher to a 604 fils and 505 fils close, respectively.

Telecommunications sector Index stood at 1089.41 points, up by 1.39% after exchanging a total traded stock of over 8 million shares for a value of KD 4.2 million. Mobile Telecommunications Co (Zain) leaped 10 points higher to 588 fils, trading 7.14 million shares for a KD 4.17 turnover. Kuwait Telecommunications Co (Viva) also took a turn to the green with a 6 point increase to 805 fils. National Mobile Telecommunications Co (Ooredoo), at the same time, slipped 1 point lower to 749 fils and Aan Digital Services Co closed flat at 13 fils a piece.

The financial services sector marked a 1,072.97 point end in the red with

the top traded volume of 93.18 million shares traded and a turnover of KD 7.5 million. National Industries Group added 3 points for a 255 fils close, Arzan Financial Group for Financing and Investment ebbed 1 point lower to 30.7 fils and Kuwait Financial Centre took a 3 point trim to 100 fils. Meanwhile, Al Imtiaz Investment Group held ground at its 140 fils share price and GFH Financil Group closed at 73.1 fils with a 1 point cut. Aayan Leasing and Investment Co and National Investment Group closed in the green at 55.9 fils and 144 fils respectively. Kuwait Investment Company moves 1 point lower to 146 fils while Al Salam Group Holding Co moved a point higher to a 38.9 fils finish.

The oil and gas sector closed at 1,179.73 fils in the green. Gulf Petroleum Investment trekked 1 point higher to 21.6 fils, Senergy Holding Co closed at 19.9 fils with a 0.7 point increment and The Energy House Co took a 1.5 point augment to 21.5 fils.

Real estate sector index stood at 976.1 points, up by 0.79% after trading a volume of over 32 million shares for a KD 1.82 million turnover. Kuwait Real Estate Co made a 4.2 point positive change to 86.6 fils, the National Real Estate Company stood 1.6 points higher at 86.6 fils and United Real Estate Company trudged 0.4 points higher to 64.9 fils. Mabanee Co made a 5 point leap to

796 fils. Al Mazaya Holding Co dipped 0.1 point lower to 55.1 fils.

In the industrial sector, Combined Group Contracting and Heavy Engineering Industries and Ship Building Co gained 4 points for a 256 fils and 422 fils finish. Agility Public Warehousing Co made a 1 point increment to 803 fils at close while Gulf Cable and Electrical Industries Co jumped 9 points to a 477 fils. Humansoft Holding Co took a 30 point leap to KD 3.3 to end the week in the green.

In the basic materials sector, Boubyan Petrochemical Co took a hard 81 point tumble to 788 fils, Qurain Petrochemical Industries closed flat at 355 fils and Kuwait Foundry Co closed 3 points higher to 257 fils.

In insurance, Warba Insurance Co gained 6.6 points to 72.8 fils while Kuwait Insurance Company dropped 23 points to 312 fils. The Consumer Goods sector closed in the red; Mezzan Holding Co slid 9 points down to 616 fils and Livestock Transport and Trading Co scaled 5 points upward to 197 fils while Danah Al Safat Foodstuff Co closed at a flat 27.8 fils.

In the consumer services sector, Kuwait Resorts Co took a 0.6 point hike to 55.1 fils, Soor Fuel Marketing Company gained 4 points for a 125 fils share price and Al Rai Media Group skimmed 2.5 fils lower to 31.4 fils.