Kuwaiti index ends in red with mixed board
CBK dips 6 fils, Mezzan Holding up
KUWAIT CITY, Aug 6: Kuwait stocks pulled lower in the red on Tuesday. The All Share Price plunged to 6,086.51 points, down by 0.26% with a mixed board. The Premier Market plunged 19.98 points lower to 6,706.89 points and the Main Market slumped to 4,865.87 points, down by 0.14%.
The stock market opened on a sour note and hit its lowest points in the first hour but swelled through midday trade, ultimately falling short 15.6 points to move above the rim. Of the 117 counters that remained active during the session, only 35 advanced, 60 retreated and 22 closed flat. Over 100.64 million shares were traded for a turnover of KD 21.75 million.
Manazel Holding Co was the top gainer of the day, closing the session at 29.7 fils with a 10% upswing. Followed in close step by Automated Systems Company who stood at 78 fils after a 9.86% increase. At the same time, Gulf Investment House also marked a 9.28% rise to a 57.7 fils share price and Commercial facilities Company gained 6.7% in the session for a 207 fils close. Kuwait Insurance Company counted itself among the day’s top winners with a 4.69% spike to 335 fils.
Among notable losers on the trading floor, Real Estate Trade Centre took a 10% nose-dive to 24.3 fils. Meanwhile IFA Hotels and Resorts Company eased lower to 57.9 fils, posting a 9.95 % decline. International Resorts Company also dropped to 15 fils with a 9.09% contraction and Kamco Investment Company receded to a 90 fils close, down by 8.16%. The Energy House Company, meanwhile, pared 6.98% lower to 20 fils at the end of the session.
Arzan Financial Group for Financing and Investment continued to be the top traded stock of the day with 11.97 million of its shares exchanged. National Industries Group and Ahli United Bank also saw robust activity with 6.5 million shares and 4.5 million shares traded respectively.
The Banking sector closed in the red at 1,421.51 points, down by 3.44 points and 0.24% with a total volume of 19.15 million shares for a KD 7.96 million turnover. National Bank of Kuwait held steady at 998 fils while Kuwait Finance House and Ahli United Bank slipped 2 points lower to 779 fils and 288 fils respectively. Kuwait International Bank closed at a flat 279 fils while Gulf Bank eased 1 point lower to 312 fils. Burgan Bank dipped 2 points lower to 351 fils and Warba Bank held ground at 257 fils. Boubyan Bank was the only counter to close in the green with a 1 point advance to 598 fils. Commercial Bank of Kuwait meanwhile, took a 6 point fall to 501 fils.
Telecommunications Sector Index stood at 1,087.43 points, falling 7.27 points to the red zone. Mobile Telecommunications Co (Zain) and National Mobile Telecommunications Co (Ooredoo) took a 5 point plummet to 590 fils and 720 fils respectively. Kuwait Telecommunications Co (Viva) trekked 4 points to 805 at close while Aan Digital Services Co inched lower to 12.8 fils, down by 0.1 points.
The financial services sector marked
a 1,065.74 point finish in the red, down by 0.18%, trading 44 million shares for a total value of KD 4 million. National Industries Group eased 1 point lower to 256 fils while Al Imtiaz Investment Group held steady at 137 fils. Arzan Financial Group for Financing and Investment skimmed 0.3 points down to 28 fils while Kuwait Projects Company lunged 3 points down to 223 fils. National Investments Company tumbled 4 points to 139 fils while Aayan Leasing and Investment Co edged into the red, shedding 0.8 points to 54.1 fils.
The Oil and Gas sector closed at 1,210.66 points down by 6.44 points. Gulf Petroleum Investment closed at 21 fils after a 1.41% cut while Senergy Holding Company ebbed 0.2 points lower to 19.8 fils. The Energy House Co slid 1.5 points under to 20 fils.
Real Estate Sector index closed 970.26 points, edging 1.2 points higher to the green. Mabanee Co scaled 2 points higher to 797 fils and Mashaer Holding Company closed flat at 69.7 fils. Kuwait Real Estate Company shed 1.2 points to 81.8 fils. United Real Estate and Abyaar Real Estate Development Co closed flat at 64 fils and 13.7 fils respectively. Tamdeen Real Estate Company gained 6 points to close at 315 fils, albeit in marginal trade.
Industrial Sector closed 5.54 points lower to 919.71 points, trading 10.26 million shares for a KD 2.84 million. Agility Public Warehousing Co fell by 2 points to log a 780 fils share price while
Heavy Engineering Industries and Ship Building Co took a 3 point downturn to 417 fils. Combined Group Contracting hiked 2 points higher to 255 fils while Humansoft Holding Co fell sharply by 91 points for a KD 3.16 close. Integrated Holding Company took a 27 point plummet to 515 fils while Gulf Cable and Electrical Industries Co trudged 1 point upward to 466 fils.
Basic Materials closed at 1,031.49 points in the green, adding 0.76%. Boubyan Petrochemical Co took a 8 point leap to 773 fils while Qurain Petrochemical Industries slipped 4 points down to 256 fils. Kuwait Foundry Co climbed 3 points to 346 fils.
In the insurance sector, Kuwait Insurance made a 15 point augment to the green, up by 335 fils while Warba Insurance moved 2 points higher to a 68 fils close.
In Consumer Goods, Mezzan Holding Co went up by 2 points to close at 610 fils while Danah Al Safat Foodstuff Co slid 1.5 points down to 25.7 fils. Meanwhile, in Consumer Services, Jazeera Airways gained 10 points to close at 959 fils after announcing financial results for the quarterly period ending June 30.
In other bourse related news, Boursa Kuwait announced the list of suspended companies from trading. These include Al-Kout Industrial Projects Co.for not submitting the financials for 31-3-2019 as well as Ithmaar Holding Co. and Yiaco Medical Co. for their losses exceeding 75% of the Paid up Capital.