Kuwait index slightly up in choppy session

Mezzan Holding jumps 18 fils, NBK slips

By John Mathews

Arab Times Staff

KUWAIT CITY, Sept 3: Kuwait stocks pulled slightly higher on Tuesday, partly recouping last session’s losses. The All Shares Index rose 7.82 points in choppy session to 5,961.32 points paced by select counters even as the broader mood remained fickle.

The Premier Market climbed 9.27 pts to 6,560.19 pts taking the year’s gains to 1,293 points while Main Market added 4.9 points before settling at 4,784.21 points. The volume turnover meanwhile saw a modest rebound after slipping below the 100 million mark in the previous session.

In the individual performers, KIPCO rose 3 fils to 226 fils on back of 1.4 million shares while Mezzan Holding jumped 18 fils to 600 fils. National Bank of Kuwait gave up 3 fils to close at 991 fils after pushing 2.6 million shares at the counter.

Zain rose 3 fils to 575 fils with brisk trading of 8.4 million shares while Ooredoo extended last session’s losses with 3 fils drop to 705 fils. Kuwait Telecommunications Co (VIVA) fell 2 fils to 800 fils and logistics major Agility eased 1 fil to 759 fils.

The market opened firm and seesawed in early trade. The main index slipped into red to plumb the day’s lowest level of 5,944 pts and clawed back before drifting sideways way past the mid-session. It spiked briefly to peak at 5,962 pts before closing with small gains.

Top gainer of the day, First Dubai soared 26 pct to 34.2 fils and Tahssilat sprinted 9 pct to stand next. Warbacap dropped 9 percent, the steepest decliner of the day and First Dubai topped the volume with 10.6 million shares.

Reflecting the day’s gains, the winners outnumbered the losers. 49 stocks advanced whereas 32 closed lower. Of the 107 counters active on Tuesday, 26 closed flat. 4,346 deals worth KD 18.59 million were transacted during the session.

National Industries Group was unchanged at 238 fils after moving 2.7 million shares during the session while Integrated Holding Co fell 3 fils to 414 fils. Boubyan Petrochemical Co climbed 6 fils to 779 fils and Al Qurain Petrochemical Co stood pat at 340 fils with a volume of 2.9 million shares.

Jazeera Airways ticked 1 fil higher to 971 fils after trading in red earlier in the session while ALAFCO vacillated narrowly before closing flat at 263 fils. Muntazahat eased 0.1 fil to 59.9 fils whereas Soor Fuel and Ajwan paused at 120 fils and 13.6 fils respectively.

Kuwait Cement Co tripped 1 fil before ending at 270 fils whereas Kuwait Portland Cement held ground at KD 1.203. Sharjah Cement Co gave up 1.4 fils and Fujariah Cement Co fell 0.9 fil to 52 fils. Ras Al Khaimah White Cement Co dialed down 2.5 fils tp finish at 61.5 fils.

Equipment Holding edged 0.7 fil down to 18.7 fils and Salbookh Trading Co ticked 0.3 fil into red. Safat En

ergy Holding took in 0.5 fil. Inovest rose 3.5 fils to 66.3 fils while SPEC tripped 1 fil. International Financial Advisors was up 2.7 fils at 45.9 fils.

Kuwait and Gulf Links Transport Co tripped 0.7 fil to 72.5 fils and Gulf Cable took in 2 fils before winding up at 436 fils. KCPC added 2 fils and AAN ticked 0.7 fil into green after trading 5.4 million shares. Warbacap slipped 7.4 fils to 67.5 fils.

Combined Group Contracting Co fell 3 fils to 237 fils while Mubarraed and Mashaer Holding stood pat at 62 fils and 72.5 fils respectively. Oula fuel dialed down 1 fil to settle at 119 fils and in the banking sector, Kuwait Finance House dialed up 2 fils on back of over 2 million shares whereas Kuwait International Bank inched 1 fil higher to 274 fils. Gulf Bank paused at 300 fils and Burgan Bank too did not budge from its earlier close of 345 fils.

Commercial Bank and Al Mutahed were unchanged at 500 fils and 332 fils respectively whereas Ahli United Bank ticked 1 fil higher on back of over 5 million shares. Warba Bank was unchanged at 251 fils.

KIPCO added 3 fils after pushing 1.4 million shares at the counter while Gulf Finance House inched 0.1 fil higher to 74.3 fils. Kuwait Investment Co was flat at 140 fils while FACIL gave up 4 fils to end at 195 fils. Secu

rities House and Arzan paused at 45.5 fils and 26.8 fils respectively.

Kuwait Finance Centre (Markaz) eased 0.5 fil to 98.5 fils and KMEFIC rallied 4.9 fils on back of 2.3 million shares. Al Aman added 1.4 fils to end at 57.4 fils while Aayan trimmed 0.6 fil.

Bayan Investment Co fell 2.3 fils to 40 fils and Osoul clipped 2 fils before settling at 69 fils. Madar Finance took in 1 fil and Al Salam edged 0.5 fil into green. Ektittab Holding ticked 0.1 fil higher and KFIC followed suit.

Noor Financial Investment Co fell 1.6 fils to 85.5 fils and Al Imtiaz took in 1 fil. Kuwait Insurance Co gave up 2 fils to close at 333 fils. Al Mal Investment inched 0.3 fil up to 13 fils and International Financial Advisors rose 1.4 fils on back of 2.3 million shares.

Mabanee Co was flat at 772 fils while National Real Estate Co and Salhiya Real Estate Co dialed up 1 fil each. Kuwait Real Estate Co eged 0.5 fil higher and Mazaya took in 1.3 fils on back of 7.7 million shares.

The bourse has been mixed so far during the week and has added 20 points in last three sessions. The main index has skidded 169 pts during whole of August and is trading 869 pts higher year-to-date. Boursa Kuwait, with 176 listed stocks, is the second largest market in the region.