23/01/2017 05:26 AST
Boursa Kuwait ended last week in the green zone. The Price Index closed at 6,435.75 points, up by 5.37% from the week before closing, the Weighted Index increased by 4.12% after closing at 408.22 points, whereas the KSX-15 Index closed at 944.85 points up by 3.98%. Furthermore, the week’s average daily turnover increased by 61.02%, compared to the preceding week, reaching KD 63.53 million, whereas trading volume average was 759.98 million shares, recording an increase of 37.91%.
Boursa Kuwait presented an exceptional performance during the last week supported by the continued flow of the high levels liquidity, which pushed the trading indicators to increase noticeably during the week. The Boursa performance was marked with a strong growth, and its indices were able to beat the profit collection operations that were present in some daily sessions of the week and could not stop the upward direction witnessed by the Boursa during this period. The Boursa witnessed such performance in light of the watch state lived by most of the traders for the listed companies’ financial results for the year end 31 December 2016, amid expectations of positive outcome for most of it.
The Boursa initiated the first session of the week recording a group growth for the three indices supported by the heavy purchasing activity witnessed by the listed stocks headed by the leading and operational ones, especially in the Banks sector. Also, the Boursa received some support from the quick speculative operations executed on a number of small-cap stocks, amid continued increase in the trading levels, especially the liquidity, which crossed the KD 50 million level up by the end of the session. The second trading session of the last week witnessed a limited increase to the three indices, whereas the Price Index realized 0.02% increase only compared to the previous session, while the Weighted and KSX-15 indices grew by 0.25% and 0.37% respectively. Such performance came in light of a severe fluctuated performance between up and down, where the Boursa was able to realize good gains at the beginning of the session supported by the strong purchasing operations that included few stocks, however it declined once again due to the quick profit collection operations executed by some investors, before the Boursa could return to the green zone supported by the purchasing operations witnessed in the last few minutes of the session.
The three Boursa indices were able to end the mid-week session with big gains for all the indicators, especially the KSX-15 Index which grew by 3.03% supported by the strong purchasing operations that concentrated on the leading and heavy stocks, especially in the Banks sector, in addition to the collection operations witnessed by some small-cap stocks, amid a noticeable increase in the liquidity levels to reach more than KD 75 million, which positively reflected on the Boursa market capitalization that made a profit of around KD 623 million during this session only.
On Wednesday’s session, the Boursa witnessed a mixed closing for the three indices, whereas the Price Index continued recording gains supported by the purchasing and collection operations executed on the small-cap stocks, especially of market value less than its book or par value, while the Weighted and KSX-15 indices declined affected by the profit collection operations that targeted some leading stocks, especially after the jumps in prices witnessed in the previous sessions. The last session of the week closed mixed too, as the Price Index continued in realizing gains and breaking new closing levels to end the week’s trading at its highest level ever since March 2015, the Weighted Index also was able to compensate a part of its losses recorded in the previous session to close in the green zone, while the KSX-15 Index recorded decline for the second consecutive session affected by the continued profit collection operations that inclu
Arab Times
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