KSE equities remain bearish

29/06/2010 00:00 AST

The Kuwait Stock Exchange declined for the fourth consecutive day. It is worth mentioning that Global's general index gained only in seven sessions during June 2010. Global General Index (GGI) decreased by 0.42 points (0.23 percent) during yesterday's session to reach 184.91 points. The KSE Price Index also fell 54.10 points (0.20 percent) yesterday and closed at 6,577.80 points. Market capitalization went down by KD69.11mn yesterday to reach KD30.57bn.

Market breadth

During the session, 107 companies were traded. Market breadth was skewed towards decliners, as 57 equities retreated versus 23 that advanced. A total of 132 stocks remained unchanged during the trading session. Trading activities ended on a mixed note yesterday as volume of shares traded on the exchange increased by 33.52 percent to reach 129.57mn shares, and value of shares traded decreased by 8.75 percent to stand at KD18.56mn. The Real Estate Sector was the volume leader, accounting for 32.07 percent of total market volume. The Banking Sector was the value leader, accounting for 35.92 percent of total market value. Investors Holding Group Company was the volume leader, with a total traded volume of 22.08mn shares. Kuwait Finance House was the value leader, with a total traded value of KD2.32mn.

In terms of top gainers, United Gulf Bank increased its gains as it took the top spot, for the second consecutive day, adding 8.62 percent and closed at KD0.315. On the other hand, Al-Tameer Real Estate Investment Co was the biggest loser, shedding 8.77 percent, and closed at KD0.052, followed by Al-Safat Energy Holding losing 7.58 percent during yesterday's session, and closed at KD0.061.

Sectors

Regarding Global's sectoral indices, they ended the day on a mixed note. Global Insurance Index was the only gainer, adding a 0.89 percent to its value, backed by Warba Insurance Company, down 5.68 percent, closing at KD0.166. Global Investment index was the biggest loser, losing 0.66 percent of its value, backed by Housing Finance Co (ISKAN), down 6.85 percent, closing at KD0.156. Global's special indices also ended the day on a mixed note. Global Small Cap Index being the biggest gainer, increasing by 0. 76 percent, backed by International Resorts Company, which went up 4.65 percent to close at KD0.045. Global High Yield was the biggest loser yesterday, shedding 0.48 percent, backed by Warba Insurance Co, down 5.68 percent, closing at KD0.166.

For more on this Click Here

Kuwait Times