Kuwaiti bourse ends week on ‘tame’ note

NAPESCO tumbles 100 fils, NBK up

By John Mathews Arab Times Staff KUWAIT CITY, Jan 16: Kuwait stocks trod water on Thursday as it wound up the week on a tame note. The All Shares Index eased 0.43 points in volatile session to 6,361.20 points even as the overall mood remained mixed.

The Premier Market ticked 0.48 pts down to 7,089.50 points and is up 115 pts so far during the month while Main Market trimmed 0.35 pts to close at 4,886.10 points. The volume turnover meanwhile shrank for the second straight session. Over 161 million shares changed hands – down 21 pct from the day before.

The sectors swayed narrowly in both directions. Real Estate outshone the rest with 0.32 pct gain whereas Technology dived 10 percent, the biggest loser of the day. Volume wise, Real Estate topped with 76.9 million shares while in value Banks were ahead with KD 21.1 million.

Among the individual shares, sector bellwether National Bank of Kuwait extended it gaining spree with a 3 fils rise to KD 1.100 whereas Commercial Bank climbed 4 fils to KD 0.552 taking the month’s gains to 23 fils. NAPESCO tumbled 50 fils to KD 1.200.

Zain ticked 1 fil higher to 595 fils on back of 3.7 million shares after rallying 151 fils during whole of 2019 while Ooredoo rose 3 fils to 794 fils. STC added 3 fils before settling at 778 fils while logistics major Agility, dialed up 1 fil to close at 810 fils with a volume of 1.5 million. Humansoft Holding slipped 5 fils to KD 3.145.

The market opened firm and drifted lower in early trade. The main index pulled up amid buying in select counters to peak at 6,359 points past the mid-session and slipped into red again. It bottomed at 6,339 points in the final minutes before clawing back most of the losses at close.

Top gainer of the day, GIH rallied 15 pct to 69 fils and OSOS climbed 8.8 percent to stand next. Automated Systems Co slid 10 percent, the steepest decliner of the day and Arzan topped the volume with over 35 million shares.

Despite the tame closing, the winners outnumbered the losers. 61 stocks advanced whereas 47 closed lower. Of thee 123 counters active on Thursday, 14 closed flat. 6,562 deals worth KD 35.16 million were transacted during the session.

National industries Group clipped 1 fil to close at 242 fils after pushing over 2.7 million shares and Mezzan Holding too followed suit to wind up at 500 fils. Al Qurain Petrochemical Co fell 2 fils to 308 fils and Boubyan Petrochemical Co was down 3 fils at 671 fils. Integrated Holding Co rallied 12 fils on back of 1.3 million shares to 592 fils.

Jazeera Airways was unchanged at KD 1.105 off early highs and ALAFCO ticked 1 fil higher to 262 fils. Gulf Petroleum Investment Co eased 0.2 fil to 19.7 fils and AAN added 0.8 fil on back of 3.5 million shares. KPPC took in 0.2 fil and KCPC gave up 2 fils before ending at 265 fils.

Kuwait Portland Cement Co was unchanged at 980 fils off early lows and Heavy Engineering Industries and Shipbuilding Co too did not budge from its earlier close of 408 fils. Gulf Cement Co added 1.9 fils and Fujairah Cement Co rose 1.5 fils before settling at 44.5 fils.

Kuwait Foundry Co and Independent Petroleum Group were flat at 335 fils and 480 fils respectively whereas Safat Energy inched 0.2 fil into green. Salbookh took in 0.3 fil and Equipment Holding was dialed up 0.5 fil with thin trading. AGHC slipped 4 fils to 261 fils.

Kuwait Gulf Links trimmed 0.5 fil and KGL Logistics eased 0.1 fil to 36 fils. IFA Hotels and Resorts rose 1.9 fils to 56.7 fils and Mashaer added 2.1 fils on back of 1.5 million shares. NICBM climbed 5 fils to 165 fils.

Combined Group Contracting Co fell 2 fils to 256 fils and OSOS sprinted 9 fils with thin trading. SPEC gave up 2.1 fils and Thuraya was down 4.5 fils at 80 fils. EK Holding dipped 28 fils to 377 fils.

In the banking sector, Gulf Bank tripped 1 fil after pushing 2.6 million shares whereas Kuwait International Bank and Burgan

Bank dialed up 1 fil each to close at 279 fils and 309 fils respectively. Boubyan Bank was unchanged at 664 fils.

Kuwait Finance House added 1 fil on back of 4.6 million shares to end at 818 fils while Al Ahli Bank dialed up 2 fils. Ahli United Bank slipped 3 fils to 331 fils with a volume of 12.9 million shares. Al Mutahed was down 2 fils at 337 fils.

KIPCO tripped 1 fil to end at 215 fils and Gulf Finance House was down by same measure to close at 68 fils. Kuwait Investment Co climbed 4 fils on back of 3.7 million shares and FACIL paused at 219 fils. Coast Investment Co and International Financial Advisors took in 0.3 fil each.

Kuwait Financial Centre ( Markaz) dialed up 2 fils and Securities House closed 1.2 fils in green. GIH rallied 9 fils on back of 3.5 million shares and Al Aman ticked 1.1 fils up to 58.1 fils. ALOLA inched 0.2 fil higher on back of 6.4 million shares and Al Mal trimmed 0.3 fil.

KAMCO eased 0.1 fil to 91.4 fils and Al Aman closed 1.1 fils in green. KMEFIC tripped 1.4 fils and Aayan ease 0.2 fil after pushing over 4 million shares. KFIC and NIH stood pat at 50 fils and 80 fils respectively whereas Osoul edged 1 fil higher to 77 fils.

Madar Finance fell 2.9 fils to 90.1 fils and Unicap gave up 0.7 fil. Madar clipped 2.9 fils and Al Deera Holding edged 0.8 fil higher to 20.7 fils.

Bayan Investment took in 0.1 fil and Ektittab Holding nudged 0.3 fil up. Sokouk trimmed 0.2 fil before settling at 34.1 fils.

Noor Financial Investment rallied 9 fils to 155 fils on back of 4.6 million shares and KSHC dialed up 34.8 fils. Asiya fell 1.7 fils and Al Imtiaz stood pat at 124 fils. Kuwait Insurance Co dropped 5 fils to 335 fils and Warba Insurance Co rose 2 fils. Mabanee Co eased 1 fil to 924 fils and Salhiya Real Estate climbed 8 fils to 420 fils.

The market was upbeat so far during the holiday–trimmed week. The main index closed higher in two the three sessions gaining 121 points week-on-week. It has added 69 points so far during the month after rallying 1203 points during whole of last year.