Kuwait bourse ticks up in volatile session, volume rises
KUWAIT CITY, Sept 28: Kuwait stocks crept higher on Tuesday partly recouping last session’s pullback. The All Shares Index rose 4.53 points in volatile session to 6,874.71 points paced by some of the mid-caps even as blue chips closed narrowly mixed.
The Premier Market was little changed at 7,503.21 points while Main Market climbed 12.97 pts to 5,636.28 points. The BK Main index fell 2.01 points to 5,898.52 pts. The volume turnover meanwhile saw a modest rebound. Over 342 million shares changed hands – up 3 pct from the day before.
Outshone
The sectors closed mixed. Insurance sector outshone the rest with 0.83 percent gain whereas Consumer Discretionary shed 0.83 pct, the biggest loser of the day. Volume wise, Financial Services topped with 171.5 million shares and sector was also ahead in value with KD 22.86 million.
In the individual shares, sector bellwether National Bank of Kuwait was unchanged at 956 fils after pushing 3.5 million shares and is up 20 fils monthto-date whereas Kuwait Finance House trimmed 1 fil with a volume of 2.2 million. Mabanee Co slipped 9 fils to 770 fils and
Humansoft Holding skidded 18 fils to KD 3.320. Boursa Kuwait Securities gave up 9 fils whereas Mezzan Holding climbed 5 fils to 632 fils.
Zain fell 2 fils to 599 fils after pushing 1.7 million shares whereas Ooredoo sprinted 7 fils to 649 fils. stc slipped 5 fils to 850 fils and logistics major Agility erased 3 fils. KIPCO stood pat at 158 fils. and National Investment Co too did not budge from its earlier close of 200 fils after moving 1.7 million shares. Gulf Insurance Group jumped 17 fils to 919 fils while NAPESCO scaled 9 fils.
National Industries Group inched 1 fil higher to 245 fils on back of over 3 million shares and Gulf Cable dialed up 2 fils. Boubyan Petrochemical Co paced 6 fils while Al Qurain Petrochemical Co added 3 fils before ending at 382 fils. Jazeera Airways skidded 9 fils to 830 fils whereas ALAFCO was unchanged at 228 fils. Integrated Holding tripped 1 fil and Aznour stalled at 237 fils. Unired Projects Co sprinted 15 fils to 260 fils.
Opened
The market opened firm and moved sideways briefly before heading up. The main index scaled the day’s highest level of 6,879 points and pivoted south as selling weighed on some of the counters. It dropped sharply to bottom at 6862 points almost an hour into the session and swung higher and vacillated narrowly in the second half before closing with small gains.
Top gainer of the day, NCCI spiked 16.33 pct to 171 fils while Al Aqaria darted 10.49 percent to stand next. Hilal Cement Co shed 4.49 pct, the steepest decliner of the day and NCCI also topped the volume with 35.9 million shares.
Reflecting the day’s gains, the winners outnumbered the loser. 62 stocks advanced whereas 56 closed lower. Of the 135 counters active on Tuesday, 17 closed flat. 13,634 deals worth KD 52.87 million were transacted during the session.
In the banking sector, Gulf Bank ticked 1 fil lower after trading over 7 million shares whereas Kuwait International Bank and Burgan Bank paused at 224 fils and 228 fils respectively. Boubyan Bank inched 1 fil higher to 771 fils.
Shares
Warba Bank dialed up 1 fil and Ahli United Bank BSC added 3 fils on back of 9.3 million shares. Commercial Bank was unchanged at 500 fils after pushing 6 million shares. Al Ahli Bank trimmed 1 fil whereas Ahli United Bank Kuwait closed 3 fils in green.
Kuwait Cement Co eased 1 fil to 244 fils whereas Kuwait Portland Cement Co paced 6 fils. Metal and Recycling Co rose 3 fils to 121 fils and Kuwait Foundry Co closed 2 fils in red. HEISC trimmed 1 fil and Shuaiba Industrial paused at 221 fils. ACICO Industries rose 3 fils to 121 fils on back of 2.5 million shares whereas Hilal Cement shed 8 fils. Salbookh Trading added 3.5 fils with brisk trading.
NCCI soared 24 fils to 171 fils on back of 35.9 million shares and Warba Capital climbed 7.7 fils. Educational Holding slipped 9 fils to 690 fils while Senergy Holding tripped 1.2 fils. Sultan Centre fell 2 fils to 190 fils whereas Aarabi Group Holding was up 4 fils at 150 fils. Kuwait and Gulf Links Transport Co took in 1 fil and KCPC paced 8 fils.
Burgan Company For Well Drilling dropped 6 fils to 167 fils whereas OSOS Holding dialed up 2 fils. IFA Hotels and Resorts dialed down 2 fils after trading 2.4 million shares and Combined Group Contracting Co followed suit. Advanced Technology Co clipped 2 fils and Egypt Kuwait Holding closed 3 fils in green. Inovest BSC gained 7 fils.
The market has been mixed so far during the week and has trimmed 2 points in last three sessions. It has scaled 61 points month-to-date and is up 1328 points year-to-date.