The Kuwaits current account surplus for 2008 was KD 17.4 billion up by 30.8 percent compared to 2007. CBK indicated that the figure was a result of compilation of the provisional figures for the balance of payments of the state of Kuwait for 2008. Global General Index (GGI) continued its positive trend as it ended the day up by 1.54 points, which translates into a 0.79 percent gain during todays session to reach 196.48 points. Furthermore, the KSE Price Index posted a gain today of 68.20 points (
+0.89 percent) to close at 7,727.30 points. Market capitalization increased today by KD 249.31million ( +0.79 percent) to reach KD 31.86 billion. During todays session, market breadth was skewed towards advancers as 70 equities advanced versus 25 that retreated, while 108 stocks were unchanged. A total of 125 stocks were traded today.
Volume and value of shares traded on the exchange increased during todays session as investors exchanged 651.06 million shares (+31.42 percent) at a total traded value of KD 90.73 million (+46.36 percent). The Investment Sector was both the volume and value leader for the day, accounting for 42.04 percent (273.68 million shares) of total market volume at a total traded value of KD 34.00 million (37.47 percent). Al-Deera Holding Company had the highest volume and value in the market, with 82.26 million s
hares changing hands at a total traded value of KD 10.99 million. However, the scrip ended the day unchanged, to close at KD 0.134. In terms of advancers, First Takaful Insurance Company was the top gainer. The scrip ended the day significantly up by 12.66 percent to end at KD 0.44. On the other side, Contracting and Marine Services Company was the top decliner, down 6.17 percent to end at KD 0.38.
Sector wise, all Global indices ended on a positive note except for Global Food and Non-Kuwaiti index which were down by 0.83 percent and 0.23 percent respectively. The decline of Global Food Index decline was mainly attributed to Kuwait Foodstuff Company (Americana), the heavy weighted stock, which was the only decliner in the sector shedding 1.49 percent, to close at KD 1, 320. Also, Ahli United bank posted a 2.30 percent loss today which pushed the Non-Kuwaiti Index to end in the red.
Global Insurance Index was the biggest gainer today, adding 2.16 percent with First Takaful Insurance leading the top gainer list for the day and being the highest gainer among the sector. Al-Ahleia Insurance Company followed gaining 4.48 percent, to close at KD 0.350. All the other equities among the sector ended todays session unchanged. Global Investment Index was the second biggest winner today. The index posted at 1.45 percent gain as three equities in the index appeared in the top gainers list for t
he day. Global Investment House came in the list gaining 7.22 percent, to close at KD 0.104.
Regarding Global Special Indices, they ended on a positive note today, with Global Islamic Index being the top gainer. The index was up by 1.13 percent. Kuwaits Finance House and Kuwait International Bank contributed to the indexs gain, with 1.75 and 0.83 percent increase respectively. The price of OPEC basket of twelve crudes stood at 56.73 dollars a barrel on Friday May 15, 2009 compared with $55.99 the previous day according to OPEC Secretariat calculations.
Changes possible in next tranche, says RBI
The Reserve Bank of India (RBI) is open to the idea of using Consumer Price Index (CPI) inflation as the basis for inflation-indexed bonds (IIBs). "New instruments will be issued down the line next y