KUWAIT: Kuwait Stock Exchange (KSE) ended last week in the green zone. The Price Index closed at 6,286.50 points, up by 0.16% from the week before closing, the Weighted Index increased by 0.34% after closing at 424.41 points, whereas the KSX-15 Index closed at 1,028.29 points up by 0.29%. Furthermore, last week’s average daily turnover increased by 17.16%, compared to the preceding week, reaching KD12.28 million, whereas trading volume average was 140.80 million shares, recording an increase of 34.28%. The stock market indicators closed in the green zone for the second consecutive week, whereas the market was supported by the noticeable active purchasing operations that included many stocks, especially the stocks of the companies that disclosed positive financial results, in addition to the quick speculations operations that included many small-cap stocks. Also, the stock market was able to increase despite the profit collection operations witnessed during the week’s sessions, as the purchasing trend contributed into the market increase which appeared since the beginning of the week and concentrated on the large-cap and operational stocks, especially the ones that realized good gains for the first half of the current year. In addition, the stock market witnessed during the first trading session of the week a good performance enabled it to realize gains for the three indices, among a noticeable growth to the trading activity for both the liquidity and the volume compared to the previous session. On the next session, the market could not hold its positive performance that started the week with, as it was subject to profit collection operations that pushed the three indices down, losing a part of its previous session’s gains. On the end of week session, the market indices fluctuated, as the profit collection operations continued and concentrated on the small-cap stocks to negatively affect the Price Index performance which lost all its weekly gains during the same session, whilst the Weighted and KSX-15 indices were able to increase supported by the purchasing operations executed on the heavy stocks. By the end of the week, the number of companies that disclosed its first half financial results reached 41 company, representing 21.31% of the total 192 listed companies in KSE, realizing total gains of KD445.62 million, compared to KD 399.22 million for the same period of year 2014, with a growth of 11.62%. The market cap for Kuwait Stock Exchange reached KD28.21 billion by the end of last week, with a growth of 0.52% compared to its level in a week before, which was KD28.07 billion. On the annual level, the listed companies cap increased by 0.82% from its value at end of year 2014, as it reached then KD 27.98 billion. As far as KSE annual performance, the Price Index ended last week recording 3.81% annual loss compared to its closing in 2014, while the Weighted Index decreased by 3.30%, and the KSX-15 recorded 2.99% loss.
Seven of KSE’s sectors ended last week in the green zone, four recorded declines, whereas the Health Care sector’s index closed with no change from the week before. Last week’s highest gainer was the Technology sector, achieving 2.09% growth rate as its index closed at 943.68 points. Whereas, in the second place, the Insurance sector’s index closed at 1,129.88 points recording 1.13% increase. The Consumer Goods sector came in third as its index achieved 1.06% growth, ending the week at 1,252.20 points. On the other hand, the Real Estate sector headed the losers list as its index declined by 0.72% to end the week’s activity at 1,033.39 points. The Telecommunications sector was second on the losers’ list, which index declined by 0.09%, closing at 626.62 points, followed by the Consumer Services sector, as its index closed at 1,049.65 points at a loss of 0.07%.
The Real Estate sector dominated a total trade volume of around 181.22 million shares changing hands during last week, representing 42.90% of the total market trading volume. The Financial Services sector was second in terms of trading volume as the sector’s traded shares were 30.64% of last week’s total trading volume, with a total of around 129.42 million shares. On the other hand, the Real Estate sector’s stocks were the highest traded in terms of value; with a turnover of around KD8.02 million or 21.78% of last week’s total market trading value. The Financial Services sector took the second place as the sector’s last week turnover was approx. KD7.61 million representing 20.64% of the total market trading value.