KSE ends week up 0.17%, trading volume retreats 11.99%

03/04/2011 00:00 AST

Kuwait Stock Exchange (KSE) ended last week with variance between its indices. The price index ended last week with an increase amounted to 0.17 percent, while the weighted index decreased 0.41 percent compared to the closings of the week before. Furthermore, last week's average daily turnover decreased by 15.63 percent, compared to the preceding week, reaching 26.37 million Kuwaiti dinars, whereas trading volume average was 150.83 million shares, recording a retreat of 11.99 percent.

KSE has ended the first quarter of 2011, recording limited weekly gains, in the shadow of obvious presence of profit taking and speculations. As a result the market performance marked with hesitation, which was reflected on the weekly trading slight retreatment, compared to the week before.

On the other hand, caution was noted clearly on the traders behavior due to the fact that there were 70 listed companies who did not announce their annual results until the mid of Thursday, as a result, traders were afraid that those companies might be suspended from the market due to the ending of the official annual result disclosure.

In addition Banks sector contained to play its leading role in the market, which they maintained for several weeks, yet, the medium and small size stocks had a notable share from the traders' attention, as it was a subject for speculations.

By the end of the week, the price index closed at 6,295.60 points, up by 0.17 percent from the week before closing, whereas the weighted index registered a 0.41 percent weekly loss after closing at 438.30 points.

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Al Watan