KSE ends day on 14.90 pt drop in price index

05/05/2010 00:00 AST

No new news regarding the Kuwait Stock Exchange's (KSE) performance during yesterday's session with the continuation of weak purchases by traders and portfolios. It is worth mentioning that there are seven trading sessions left before the deadline for listed companies to announce their financial statements for the 1Q-2010. To date, only 13 percent of listed companies announced their first quarter results.

Market Indices GGI shed .60 points (- 0.29 percent) during yesterday's session to reach 207.45 points. Furthermore, the KSE Price Index decreased by 14.90 points (- 0.21 percent) yesterday and closed at 7,251.50 points. Market capitalization was down KD98.36mn today to reach KD34.24bn.

Market Breadth

During yesterday's session, 126 companies were traded. Market breadth was skewed towards decliners as 59 equities retreated versus 31 that advanced. A total of 121 stocks remained unchanged during today's trading session.

Daily Trading Activity

Trading activities ended on a positive note today as volume of shares traded on the exchange increased by 15.84 percent to reach 171.13mn shares. Furthermore, value of shares traded gained by 25.43 percent to stand at KD38.47mn.

The Services Sector was the volume and value leader today, accounting for 35.76 percent of total traded volume and 41.45 percent of total market value. National Cleaning Company was the volume and value leader today, with a total traded volume of 14.77mn at a total traded value of KD4.38mn.

Top Gainers and Biggest Decliners

In terms of top gainers, Future Kid Entertainment & Real Estate Company took the top spot for the day, adding 9.26 percent and closed at KD0.118.

On the other hand, National International Company (Holding) shed 18.75 percent and closed at KD0.065, making it the biggest decliner in the market.

Sectors Wise

Regarding Global's sectoral indices, they mainly ended the day on a mixed note, except for Global Insurance Index which was unchanged during today's trading session. Global Food Index was the top decliner, down 0.93 percent backed by heavyweight Kuwait Foodstuff Company (Americana) being the only decliner in the sector despite two other companies ending in the green. The scrip ended the day down 1.37 percent and closed at KD1.440. Global Industrial Index came in second place with a 0.75 percent drop back ed by losses witnessed in Kuwait Metal Pipe Industries & Oil Services Company and Kuwait Cement Company which ended the day down 1.32 percent and 2.94 percent, respectively.

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Kuwait Times