KSE index ends month with modest upswing – Humansoft Holding soars

60 fils; Zain flat

02/11/2016 05:28 AST

Kuwait stocks headed north on Monday recouping the losses in previous session. The price index climbed 10.25 pts in volatile trading to 5,401.07 pts even as the board remained mixed. The banks and other heavyweights were mostly muted even as investors kept a wary eye on oil prices which slipped below the $50 mark in last session.

The KSX 15 gauge inched 0.36 points higher to 826.51 pts taking the month’s overall gain to 12 pts while weighted index was up 0.28 pts. The volume turnover meanwhile rebounded past the 100 million mark after sharp drop in the last session. 114 million shares changed hands — a 87 pct surge from the day before.

In the individual shares, National Bank of Kuwait was unchanged at KD 0.600 off early lows with a volume of over 1 million and investment conglomerate KIPCO gave up 5 fils to settle at 495 fils. Mabanee Co shed 10 fils extending an identical loss in the day before.

Zain was flat at 390 fils after brisk trading of 11.3 million shares and Wataniya Telecom (Ooredoo) too did not budge from its earlier close of KD 1.080. Kuwait Telecommunications Co (VIVA) rose 10 fils to KD 0.860 and Agility paused at 475 fils.

Kuwait Finance House stood pat at KD 0.475 with a volume of 4.6 million and Boubyan Bank followed suit. The bank has recorded a net profit of KD 29.62 million and earnings per share of 13.68 fils in the nine-month period ending Sept 30, 2016.

The market opened firm and swung higher in early trade. The price index retreated sharply to plumb the day’s lowest level of 5,389.61 pts before heading north again amid spurt in buying in select counters. It peaked at 5,405.36 pts almost half way into the session and pulled back again before closing with modest gains.

Top gainer of the day, MENA climbed 5.56 pct to 19 fils and Housing Finance Co (ISKAN) rallied 5.43 percent to stand next. BIIHC slid 10.6 pct, the steepest decliner of the day and Sokouk Holding topped the volume with 12.6 million shares.

Sokouk Holding has incurred a net loss of KD 2.26 million and loss per share of 3.96 fils in the first nine months of 2016 down from net profit of KD 15,544 and earnings per share of 0.03 fil in the same period last year.

National Industries Group, the flagship company of the Kharafi Group, took in 2 fils whereas Gulf Cable was unchanged at 385 fils. Kuwait Foundry Co stalled at 166 fils and Kuwait Portland Cement Co followed suit to wind up at 910 fils. Boubyan Petrochemical Company Co dipped `15 fils.

Kuwait Food Co (Americana) was unchanged at KD 2.620 off early lows and Qurain Petrochemical Industries Co followed suit. The company has registered a net profit of KD 10.48 million and earnings per share of 10.08 fils in the January-September period as compared to net profit of KD 6.61 million and earnings per share of 6.31 fils in 2015, 9M.

Jazeera Airways stagnated at 850 fils and ALAFCO dialed up 2 fils to close at 850 fils. Kuwait and Gulf Link Transport Co stalled at 47 fils whereas KGL Logistics was up 4 fils at 799 fils.

Added

Humansoft Holding Co vaulted 60 fils and RISCO added 5 fils. The company has posted a net profit of KD 4.64 million and earnings per share of 47.37 fils in the nine-month period ending Sept 30, 2016 as against a net profit of KD 3.22 million and earnings per share of 32.39 fils in the same period of 2015.

Mezzan Holding gained 20 fils with razor thin trading and Zimah Holding inched 1 fil into green on back of 5.5 million shares. Al Safat Energy Holding Co and AWJ Holding took in 1 fil each while Equipment Holding Co edged 0.5 fil higher.

In the banking sector Gulf Bank was unchanged at 234 fils while Ahli United Bank rose 10 fils to 390 fils. Commercial Bank of Kuwait and Al Ahli Bank were not traded during the session.

Burgan Bank paused at 320 fils and Kuwait International Bank took in 2 fils. Warba Bank too w

Arab Times