Kuwait’s index closes week in ‘red’ territory
NBK slips 5 fils, Zain flat
KUWAIT CITY, Nov 14: Kuwait stocks slipped into red on Thursday to close the week on a weak note. The All Shares Index slipped 12.52 points in volatile session to 5,729.47 points weighed by some of the heavyweights and midcaps.
The Premier Market dropped 13.63 points to 6,254.41 pts while Main Market was down 10.7 pts at 4,704.70 points. The volume turnover meanwhile stemmed the three-day fall with strong rebound. Over 161 million shares changed hands – a 47 pct surge from the day before.
The sectors closed mixed. Consumer Goods outshone the rest with 0.96 pct gain whereas Consumer Services shed 1.14 percent, the biggest lower of the day. Volume wise, Financial Services topped with 58.5 million while in value, Banking sector dominated with KD 6.2 million.
In the individual shares, National Bank of Kuwait fell 5 fils to 968 fils after pushing 1.7 million shares at the counter whereas Boubyan Bank gave up 3 fls to close at 558 fils. Gulf Bank tripped 1 fil with a volume of over 4 million.
Zain was unchanged at 564 fils with a volume of 1.2 million while Ooredoo climbed 7 fils to 747 fils taking the year’s gains to 33 fils. Kuwait Telecommunications Co (VIVA) took in 1 fil and Agility eased 1 fil to 742 fils. Humansoft Holding extended Wednesday’s losses with 13 fils drop to KD 3.059.
The market opened firm and headed north in early trade. The main index scaled the day’s highest level of 5,751 points almost 30 minutes into the session and drifted lower as sentiment turned sour. It bottomed at 5,723 points past the mid-session before closing with small losses.
Top gainer of the day, Equipment Holding leapt 22.22 pct to 22 fils and Al Aqaria climbed 10.4 percent to stand next. Argan slumped 22 pct, the steepest decliner of the day and Abyaar topped the volume with 25.7 million shares.
Mirroring the day’s losses the losers outnumbered the gainers. 46 stocks advanced whereas 52 closed lower. Of the 121 counters active on Thursday, 23 closed flat. 5,575 deals worth KD 15.2 million were transacted.
National Industries Group eased 1 fil to 221 fils after trading 1.5 milllion shares while Mezzan Holding sprinted 8 fils to 565 fils. Boubayn Petrochemical Co paused at 745 fils and Al Qurain Petrochemical was up 4 fils at 314 fils. Integrated Holding Co gained 5 fils.
Jazeera Airways dipped 20 fils to KD 1.020 and ALAFCO was unchanged at 260 fils. Energy Holding and Gulf Petroleum Investment eased 0.1 fil each to close at 17.9 fils and 19.4 fils respectively whereas
AAN took in 1.4 fils to close at 18.6 fils.
Kuwait Portland Cement tripped 1 fil to end at 989 fils and Kuwait Cement Co clipped 2 fils. Sharjah Cement Co inched 0.5 fil higher to 55.5 fils and Gulf Cement Co added 1.6 fils. Fujairah Cement Co ticked 0.5 fil into green and Ras Al Khaimah White Cement Co closed 1.2 fils above the rim.
Combined Group Contracting Co took in 2 fils and UPAC was down 4 fils at 400 fils. Mashaer Holding edged 0.8 fil higher to 76.2 fils on back of over 1 million shares and AGHC scaled 9 fils after pushing 3.7 million shares. Al Rai Media Group was flat at 39.9 fils.
Kuwait and Gulf Links Transport Co fell 1 fil to 64 fils and KGL Logistics ticked 0.3 fil into green. ACICO Industries and NICBM stood pat at 124 fils and 162 fils respectively whereas Equipment Holding rose 4 fils on back of 12.3 million shares.
Equipment Holding rallied 4 fils on back of 12.3 million shares and Safat Energy took in 0.9 fil. KCPC dialed up 1 fil and KPPC eased 0.2 fil to 49.9 fils. Heavy Engineering Industries and Shipbuilding Co tripped 1 fil and Inovest followed suit. SPEC ticked 0.3 fil higher.
In the banking sector, Kuwait Finance House took in 1 fil on back of 2.4 million shares whereas Kuwait International Bank and Burgan Bank paused at 266 fils and 310 fils respectively.
Commercial Bank of Kuwait was unchanged at 500 fils with thin trading. Al Ahli Bank clipped 2 fils and Al Mutahed eased 1 fil to 312 fils. Warba bank dialed up 1 fil and Ahli United Bank clipped 2 fils after trading 264 fils.
KIPCO eased 1 fil to 218 fils while Gulf Finance House ticked 0.2 fil into green. Kuwait Investment Co clipped 2 fils whereas Arzan and Al Deera Holding Co held ground at 23.5 fils and 11.7 fils respectively. International Financial Advisors eased 0.2 fil to 57.8 fils.
Kuwait Financial Centre ( Markaz) clipped 0.9 fil while KMEFIC and Unicap trimmed 0.5 fil each. Coast Investment Co fell 0.4 fil to 32 fils and Securities House eased 0.1 fil. Aayan dialed up 1.9 fils and KIH gave up 4.4 fils to close at 57.1 fils.
Bayan Investment was flat at 38.8 fils and Osoul took in 2.6 fils. KFIC added 1.1 fils and Madar Finance was down 5 fils at 130 fils. Al Madina dialed up 0.8 fil on back of 5.2 million shares while Noor Financial Investment Co and Al Imtiaz paused at 128 fils and 125 fils respectively.
Mabanee Co tripped 1 fil while National Real Estate Co and Tamdeen Real Estate closed flat. Salhiya Real Estate dropped 15 fils to 333 fils.
The bourse has mixed during the week. The main index closed higher in three of the five sessions, gaining 37 points week-on-week. It had added 13 points from the start of the month and is trading 650 pts higher year-todate. Boursa Kuwait, with 176 listed stocks, is the second largest market in the region