Bourse concludes on low note

18/01/2011 00:00 AST

Kuwait's equities ended weaker yesterday. The scrip shed by 1.37 percent from its value during the session. On the other side, the number of listed companies on KSE will go up to 216 companies starting from today. Zima Holding Company will join KSE as part of the services sector starting from tomorrow. The company has a paid up capital of KD10 million.

Market indices

Global General Index (GGI) closed 0.90 points down (0.40 percent), at 222.90 point as the market capitalization decreased reaching KD36.25 million. On the other side, Kuwait Stock Exchange Price Index closed in the red zone shedding 7.90 points (0.11 percent) from its value and closed at 6,915 point. From a technical overview, the KSE price index failed the initial attempt to cross below the strong support area at 6,880 point - 6,900 point. Range bound movement between 6,880 point - 6,950 point could be se en on the short-term period until further confirmation.

Market breadth

During the session, 120 companies were traded. Market breadth was skewed towards decliners as 31 equities advanced versus 42 that retreated.

Daily trading activity

Volume of shares traded on the exchange increased by 11.66 percent to reach 182.38 million shares, the value of shares traded increased by a 76.11 percent to stand at KD35.96 million. The investment sector was the volume leader yesterday, accounting for 32.19 percent of total shares and the banking Sector was the value leader, with 52.23 percent of total traded value. Company-wise, Kuwait International Bank was the most actively traded stock, with 15.69 million shares exchanged. The scrip closed flat at K D0.360

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