Bourse ends week with 0.64% increase, both indices record gains

17/04/2011 00:00 AST

Kuwait Stock Exchange (KSE) ended last week in the green zone, as both its main indices recorded gains. The price index ended last week with an increase amounted to 0.64 percent, while the weighted index raised 1.64 percent compared to the closings of the week before.

Furthermore, last week's average daily turnover decreased by 18.99 percent, compared to the preceding week, reaching 31.41 million Kuwaiti dinars, whereas trading volume average was 138.54 million shares, recording increase of 4.08 percent.

KSE continued to perform positively during last week, as the market was supported with strong buying actions, concentrated on some companies of good results expectations for the first quarter of 2011, with special focus on the leading stocks.

On the other hand, some small stocks, especially from Investment and Real Estate sectors, had a significant share from trading attention last week despite the fact that Banks' Sector managed to regain its place as the market leader. The main reason of the buying activities on small stocks was the attempts of some investment groups to enhance their pre-owned stocks' prices, including small stocks. Moreover, the market indices performance marked with hesitation and limited daily change, on the shadow of presence of profit taking along with buying actions, the traders currently are looking forward for the first quarter results, which caused some caution on their trades.

By the end of the week, the price index closed at 6,388.7 points, up by 0.64 percent from the week before closing, whereas the weighted index registered a 1.64 percent weekly gain after closing at 453.71 points.

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Al Watan