Kuwait’s equities close flat after volatile trade
Mabanee slips 4 fils, KAMCO gains
KUWAIT CITY, Dec 11: Kuwait stocks trod water on Wednesday following the four-day winning streak. The All Shares Index eased 1.64 pts in volatile session to 6,099.96 points even as the overall mood remained mixed.
The Premier Market ticked 1.17 points higher to 6,749.89 pts taking the month’s gains to 230 points while Main Market slipped 7.56 points to 4,814.50 pts. The volume turnover meanwhile fell for second straight session. Over 121 million shares changed hands – a 14 pct drop from the day before.
The sectors closed mostly in red turf. Industrial outshone the rest with 0.07 pct uptick whereas Technology skidded 7.14 pct, the biggest loser of the day. Volume wise, Bank topped with 39.77 million shares and the sector also was ahead in value with KD 17.9 million.
In the individual shares, Burgan Bank fell 3 fils to 310 fils after trading over 2 million shares and Kuwait International Bank gave up 4 fils before settling at 277 fils. Mabanee Co was down 4 fils at 832 fils and KAMCO climbed 7 fils 90 fils recouping most of Tuesday’s losses.
Zain eased 1 fil to 580 fils after trading over 2 million shares while Ooredoo gave up 4 fils before settling at 775 fils. Kuwait Telecommunications Co (VIVA) was unchanged at 739 fils and Agility rose 3 fils to 778 fils paring back most of the last session’s drop. Humansoft Holding jumped 37 fils to KD 3.110.
The market opened firm and slipped into red in early trade. The main index seesawed thereafter between small gains and losses before plumbing the day’s lowest level of 6,086 pts ahead of the mid-session. It continued to vacillate and clawed back most of the losses at close.
Top gainer of the day, UPAC rallied 10 pct to finish at 484 fils and KAMCO sprinted 8.4 percent to stand next. Bayan Investment dipped 9 pct, the steepest decliner of the day and Ahli United Bank topped the volume with 9.2 million shares.
Mirroring the day’s downtick, the losers outnumbered the winners. 44 stocks advanced whereas 62 closed lower. Of the 135 counters active on Wednesday, 29 closed flat. 6,834 deals worth KD 26.2 million were transacted during the session.
National Industries Group fell 2 fils to 240 fils after trading 2.4 million shares while Mezzan Holding was down 4 fils at 543 fils. Boubyan Petrochemical Co dialed up 2 fils on back of 1.2 million shares and Al Qurain Petrochemical Co tripped 1 fil.
Jazeera Airways slipped 5 fils to KD 1.084 with thin trading and ALAFCO gave up 5 fils. OSOS and Al Rai Media Group stood pat at 103 fils and 34.1 fils respectively while Inovest inched 0.3 fil lower to 62 fils. SPEC added 2 fils before settling at 76.9 fils and Mashaer Holding clipped 0.5 fil.
Kuwait Portland Cement was un
changed at 979 fils and Kuwait Cement Co was down 9 fils at 236 fils. Sharjah Cement Co took in 0.5 fil while Fujairah Cement Co and QIC paused at 48 fils and 79 fils respectively. Ras Al Khaimah Cement Co slipped 3.3 fils to 63.1 fils and Hilal Cement Co closed flat at 95 fils.
Kuwait Foundry Co dived 27 fils to 335 fils with thin trading while Gulf Cable fell 3 fils to 478 fils. Heavy Engineering Industries and Shipbuilding Co clipped 1 fil while Educational Holding Group and Automated Systems Co gave up 5 fils to close at 422 fils and 65 fils respectively.
Kuwait and Gulf Links Transport Co dialed up 0.9 fil and KGL Logistics eased 0.1 fil to 36.4 fils. IFA Hotels and Resorts ticked 0.3 fil higher whereas Combined Group Contracting Co and Gulf Petroleum Investment held ground unchanged at 247 fils and 20 fils respectively.
Burgan Well Drilling Co fell 3.5 fils to 87.5 fils and AGHC clipped 2 fils to close at 287 fils. Energy Holding Co added 1.2 fils and Safat Energy ticked 0.5 fil into red. Equipment Holding tripped 0.3 fil and Salbookh rose 1.7 fils on back of 2.6 million shares. KCPC erased 1 fil and KPPC inched 0.1 fil into red.
In the banking sector, National Bank of Kuwait took in 1 fil while Gulf Bank added 2 fils back of 3.9 million shares taking the month’s gains to 15 fils. Boubyan Bank was up 1 fil at 603 fils and Ahli United
Bank paused at 297 fils after trading 9.2 million shares.
Kuwait Finance House was unchanged at 793 fils after pushing over 9 million shares while Commercial Bank took in 1 fil. Warba Bank fell 3 fils to 286 fils and Al Ahli Bank clipped 1 fil. Al Mutahed dialed up 2 fils to close at 333 fils.
KIPCO was flat at 219 fils and Gulf Finance House too did not budge from its previous close of 71.5 fils. Kuwait Investment Co inched 1 fil up while FACIL and Arzan were flat at 212 fils and 23.7 fils respectively. Coast Investment Co and Al Mal trimmed 0.4 fil each while GIH slipped 4.2 fils to 58.8 fils.
National Investment Co eased 1 fil to 129 fils while International Financial Advisors ticked 0.2 fil into red. Securities Group fell 1.4 fils after trading 6.4 million shares and Al Aman edged 0.6 fil up. Alola dialed up 0.3 fil and GIH closed 4.2 fils below the rim.
Kuwait Financial Centre (Markaz) eased 0.3 fil to 95.8 fils and KMEFIC added 1.3 fils. KFIC clipped 1 fil and Unicap added 3.1 fils to close at 46.9 fils. Bayan Investment slipped 3.6 fils to 36.3 fils and Osoul gave up 2.9 fils.
The bourse has been largely upbeat so far during the week. The main index has rallied 171 pts from start of the month is trading 1020 points higher year-to-date. Boursa Kuwait, with 176 listed stocks, is the second largest market in the region