21/07/2013 11:03 AST
Kuwait Stock Exchange (KSE) ended last week in the green zone. The price index ended last week with an increase amounted to 0.79 percent, and the weighted index advanced by 1.63 percent compared to the closings of the week before. In addition KSX-15 index increased by 1.88 percent. Furthermore, last week’s average daily turnover increased by 22.14 percent, compared to the preceding week, reaching KD 31.74 million, whereas trading volume average was 322.15 million shares, recording increase of 27.66 percent.
All Kuwait Stock Market indices were able to realize good gains last week, supported by the purchasing power that included many leading and small-cap stocks in different sectors, especially the leading Banking sector, which positively reflected on the stock market indices’ performance, the Weighted and KSX-15 indices in particular. Also, the stock market was supported by the quick speculative operations on many stocks, especially the small-cap ones, which had a positive impact on the Price Index performance to realize good increase reaching close to 8,000 point level.
On the contrary, the selling operations were present last week and influenced the stock market activity, whereas limited profit collection operations were witnessed, contributed to limiting the indices gains, however were not able to drag them to the red zone.
On the other hand, the stock market traders are watching for the listed companies’ announcements of the first half financial data results, among optimism to come within the positive range, in light the relatively stable environment of the stock market since the beginning of the year, and the good gains for all of the stock market indices.
For the annual performance, the price index ended last week recording 33.87 percent annual gain compared to its closing in 2012, while the weighted index increased by 10.37 percent, and the KSX-15 recorded 6.09 percent increase.
By the end of the week, the price index closed at 7,944.49 points, up by 0.79 percent from the week before closing, whereas the weighted index registered a 1.63 percent weekly gain after closing at 460.94 points. Moreover, the KSX-15 index closed at 1,070.51 points, increasing by 1.88 percent.
Sectors’ Indices
Nine of KSE’s sectors ended last week in the green zone, tow recorded declines, whereas the Health Care sector’s index closed with no change from the week before. Highest gainer was The Banks Sector achieving 2.24 percent growth rate as its index closed at 1,119.0 points.
Whereas, in the second place, the Oil and Gas sector’s index closed at 1,252.77 points recording 1.83 percent increase. The Consumer Services came in third as its index achieved 1.77 percent growth, ending the week at 1,158.36 points. The Real Estate sector was the last growing as its index closed at 1,488.0 points with a 0.18 percent increase.
On the other hand, the Insurance sector was the highest last week’s loser as its index declined by 1.48 percent to end the week’s activity at 1,159.09 points, then the Consumer Goods was second last week’s loser as its index declined by 0.70 percent to end the week’s activity at 1,213.76 points.
Sectors’ Activity
The Real Estate sector dominated total trade volume during last week with 607.74 million shares changing hands, representing 37.73 percent of the total market trading volume. The Financial Services sector was second in terms of trading volume as the sector’s traded shares were 32.93 percent of last week’s total trading volume, with a total of 530.47 million shares.
On the other hand, the Real Estate sector’s stocks were the highest traded in terms of value; with a turnover of KD 40.14 million or 25.29 percent of last week’s total market trading value. The Banks sector took the second place as the sector’s last week turnover of KD. 35.50 million represented 22.37 percent of the total market trading value.
Arab Times
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