31/10/2016 05:34 AST
Boursa Kuwait ended last week in the green zone. The Price Index closed at 5,397.85 points, up by 1.44% from the week before closing, the Weighted Index increased by 3.39% after closing at 357.86 points, whereas the KSX-15 Index closed at 841.13 points up by 4.49%. Furthermore, last week’s average daily turnover increased by 59.90%, compared to the preceding week, reaching KD 19.55 million, whereas trading volume average was 122.61 million shares, recording an increase of 55.50%.
The Boursa was able to realize spectacular gains supported by the optimism state that over controlled a large group of traders, as its three indices witnessed good increase compared to the previous week closings, especially the Weighted and KSX-15 indices which benefited from the noticeable activity witnessed by the leading and operational stocks, especially in the Telecommunication and Banks sectors. Also, the speculations operations played an important role in supporting the Price Index, which recorded good increase by the end of the week.
As per the daily trading activity, the Boursa Kuwait initiated its first sessions of the week with grouped gain that included its three indices, despite the large decline in the trading value during the session, whereas it recorded a decrease of 62% compared to the previous session, however the purchasing and collection operations that concentrated on the leading stocks pushed the three indices to end the session in the green zone. On the second session, the Boursa witnessed mixed closings for the three indices, whereas the Price and Weighted indices increased supported by the purchasing and quick speculative operations that included some small-cap and mid-cap stocks, while the KSX-15 Index was subject to a limited drop due to the profit collection operations executed on some heavy stocks, which the Index is composed of.
On the mid-week session, the session was described to be exceptional, as the Boursa witnessed a large increase in all its indices, where the three main indices jumped by high rates, in addition to the noticeable growth in the pumped liquidity to the market, where it increased by about 190%, and the traded volume grew by 118% compared to the Monday’s session.
Such exceptional performance came in light of the heavy purchasing activity that the leading and heavy stocks were subject to, especially in the Telecommunication and Banks sectors, the most active ones in terms of value during the last week.
The Boursa Kuwait continued its activity on Wednesday’s session, and its three indices continued in recording gains reaching new levels that never witnessed in a while, as the Price Index reached its highest level of the month during the session, which is considered reasonable and logic especially after the good gains realized by the market in the previous sessions.
By the end of the week, the market capitalization for the listed companies in the official market reached KD 24.01 billion, up by 3.31% compared to its level in the previous week, where it reached then KD 23.24 billion, however on an annual level, the decline in the market cap of the listed companies in the official market decreased to reach 4.96% from its value at end of 2015, where it reached then KD 25.27 billion.
As far as Boursa Kuwait annual performance, the price index ended last week recording 3.87% annual loss compared to its closing in 2015, while the weighted index decreased by 6.25%, and the KSX-15 recorded 6.59% loss.
Sectors’ Indices
All of Boursa Kuwait sectors ended last week in the green zone. Last week’s highest gainer was the Telecommu-nications sector, achieving 5.46% growth rate as its index closed at 589.17 points. Whereas, in the second place, the Banks sector’s index closed at 798.32 points recording 2.91% increase. The Financial Services sector came in third as its index achieved 2.73% growth, ending the week at 552.04 po
Arab Times
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