Kuwaiti market edges higher, volume swells
KUWAIT CITY, Oct 21: Kuwait stocks pulled higher on Monday partly recouping last session’s losses. The All Shares Index climbed 13.58 points in volatile session to 5,750.70 pts helped by modest rebound in some of the heavyweights.
The Premier Market jumped 19.54 points to 6,271.56 pts while Main Market ticked 1.23 pts to 4,734.75 points. The volume turnover meanwhile rose for the third straight session to hit the month’s high. Over 167 million shares changed hands – a 32 pct surge from the day before.
The sectors closed mostly in green turf. Insurance outshone the rest with 1.27 pct gain whereas Basic Materials slipped 0.26 percent, the biggest loser of the day. Volume wise, Financial Services topped the volume with 69.7 million while in value terms, Banking sector was ahead with KD 11.3 million.
Among the standout performers, National Bank of Kuwait rose 5 fils to 943 fils on back of 1.6 million shares while Mabanee Co sprinted 7 fils to 768 fils taking the year’s gains to 150 fils. KIPCO dialed up 2 fils to close at 222 fils.
Zain took in 1 fil to close at 567 fils and Ooredoo added 4 fils to close at 731 fils and is up 11 from so far during the month. Kuwait Telecommunications Co (VIVA) gave up 5 fils before closing at 747 fils and Agility sprinted 8 fils to 760 fils.
The market opened on a sluggish note and moved sideways in early trade. The main index revved up almost half way into the session and scaled the day’s highest level of 5,670 pts. It slipped and meandered listlessly in the second half before closing with small gains.
Top gainer of the day, Equipment Holding Co spiked 24.56 pct to 21.3 fils and Al Mudon climbed 11.57 pct to stand next. AGHC skidded 13.45 pct, the steepest decliner of the day and Aayan topped the volume with 24.7 million shares.
Mirroring the day’s gains, the winners outnumbered the losers. 63 stocks advanced whereas 41 closed lower. Of the 117 counters active on Monday, 13 closed flat. 6,392 deals worth KD 22.7 million were transacted during the session.
National Industries Group eased 1 fil to 226 fils after trading over 2 million shares while Humansoft Holding gave up 5 fils to close at KD 3.105. Boubyan Petrochemical Co gained 4 fils whereas Al Qurain Petrochemical Co clipped 2 fils before settling at 309 fils.
Jazeera Airways fell 3 fils to 995 fils and ALAFCO took in 2 fils to end at 263 fils. UPAC tripped 1 fil and Combined Group Contracting Co followed suit to finish at 229 fils. OSOS ticked 1 fil higher to 104 fils and Mashaer eased 0.1 fil to 69.4 fils.
Kuwait Portland Cement was unchanged at KD 1.120 and Kuwait Cement Co gave up 8 fils to close at 257 fils. Gulf Cement Co shed 5.1 fils and Fujairah Cement paused at 51.2 fils. Ras Al Khaimah White Cement Co gave up 5 fils to close at 70 fils.
Kuwait and Gulf Links Transport Co added 3.1 fils and KGL Logisics ticked 0.5 fil into green. Shuaiba Industrial slipped 5 fils to 140 fils and Warbacap dialed down 2 fils. Gulf Petroleum Investment Co inched 1 fil up to 19.8 fils and NICBM stood pat at 165 fils.
Kuwait Foundry Co tumbled 30 fils to 370 fils and ACICO Industries gave up 3 fils. Gulf Cable gained 10 fils while Heavy Engineering Industries and Shipbuilding Co took in 1 fil. KPPC trimmed 0.5 fil and Burgan Well Drilling Co climbed 8.9 fils to 97.9 fils.
Combined Group Contracting Co tripped 1 fil and QIC was down 4.9 fils at 56.2 fils. Al Rai Media Group trimmed 0.9 fil and SPEC dialed up 2.8 fils to close at 71.5 fils.
In the banking sector, Gulf Bank dialed up 2 fils on back of 4.3 million shares and Kuwait Finance House followed suit to end at 691 fils after pushing 2.5 million shares. Kuwait International Bank ticked 1 fil higher to 270 fils and Boubyan Bank was flat at 568 fils.
Commercial Bank and Al Ahli Bank clipped 1 fil each to close at 500 fils and 297 fils respectively whereas Warba Bank added 2 fils. Ahli United Bank stood pat at 277 fils and Al
Mutahed eased 1 fil to 313 fils.
Kuwait Investment Co and Kuwait Financial Centre (Markaz) tripped 1 fil each whereas International Financial Advisors clipped 1.1 fils to close at 200 fils. Coast Investment Co ticked 0.1 fil higher to 31.6 fils and Securities House Co added 1.1 fils on back of over 2 million shares.
KAMCO rose 5 fils to 99 fils with thin trading while KFIC and Aayan were up 1.3 fils each to finish at 46.5 fils and 57.7 fils respectively. GIH fell 0.5 fil to 53.5 fils whereas ALOLA and Al Mal took in 0.6 fil each to close at 29 fils and 9.4 fils respectively.
KMEFIC eased 0.1 fil to 68.7 fils and Arzan dialed up 0.2 fil on back of 9.5 million shares. Unicap dialed down 2 fils after trading 2.8 million shares and Noor Financial Investment Co gained 6.3 fils.
Kuwait Real Estate rose 2.7 fils to 92.6 fils on back of 3.2 million shares while National Real Estate inched 0.5 fil higher. Salhiya Real Estate was flat at 331 fils and Aqar gained 4 fils.
The bourse has been mixed so far during the week shedding 16 pts in last two sessions. It has gained 72 points from start of the month and is trading 643 pts higher year-to-date. Boursa Kuwait, with 176 listed stocks, is the second largest market in the region