Investors cautious as KSE witnesses marginal drop

14/06/2010 00:00 AST

The Kuwait Stock Exchange (KSE) ended first trading session of the week on a mix note. Marginal declines were witnessed across the market including major indicators and market sectors. The price index increased and the weighted declined. Volumes remain light as cautious investors eye global moves this week.

Global General Index (GGI) declined 0.45 points (0.24 percent) during yesterday's session to reach 188.33 points. Furthermore, the KSE Price Index increased by 2.30 points (0.03 percent) yesterday and closed at 6,642.1 points. Market capitalization was down KD74.30mn yesterday to reach KD31.11.

Market breadth

During the session, 107 companies were traded. Market breadth was skewed towards decliners, as 37 equities retreated versus 32 that advanced. A total of 143 stocks remained unchanged during yesterday's trading session. Trading activities ended on a negative note yesterday as volume of shares traded on the exchange declined by 24.65 percent to reach 149.49mn shares, and value of shares traded declined by 31.98 percent to stand at KD18.19mn. The Real estate Sector was the volume leader today, accounting for 46.31 percent of total market volume.

The Banking Sector was the value leader, with 33.62 percent of total market value. Investors Holding Group Co. was the volume leader today, with a total traded volume of 35.12mn shares. Gulf Bank was the value leader, with a total traded value of KD1.99mn.

In terms of top gainers, Gulf Petroleum Investment Co took the top spot for the day, adding 6.33 percent and closed at KD0.042. On the other hand, Agility Company shed 6.02 percent and closed at KD0.390, making it the biggest decliner in the market.

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Kuwait Times