KSE index falls 51.76 pts lower to 5,571.93 points

22/12/2015 05:40 AST

Kuwait stocks plunged 51.76 or 0.92% lower to 5571.93 points at the start of the week as low risk attitudes prevailed. The bourse marked a 31.83% drop in volume from last week’s close. The weighted index ebbed 0.94 points lower to 380.46 points. The KSE benchmark slipped 0.14 points lower to 902.02 points. The number of trades stood at 2,008 with a low volume of 54.13 million shares exchanged for a value of KD 7.58 million. The bourse slipped under in early trade and failed to make a turn to the green during the session, extending losses in the final hour. A total of 122 counters remained active with only 22 closing in the green. 71 companies closed in the red and 29 closed flat.

Kuwait Food Company (Americana) led the pack of gainers with a 4.21% rise to KD 1.980 while Boubyan Petrochemical Company followed in close step with a 4% increase to 520 fils. IFA Hotels & Resorts Co stood at 174 fils share price logging a 3.57% positive change while Gulf Cable & Electrical Industries Co finished at 375 fils with a 2.74% increment. Al Rai Media Group Company shifted 2.6% higher to 158 fils. Kuwait Cable Vision took a 10% hard fall to 22.5 fils while Noor Financial Investment Company closed at 50 fils with a 9.095 cut. ACICO Industries Co shifted 8.77% lower and Al-Massaleh Real Estate Co slid 8.47% under to 54 fils. Al- Safat Energy Holding slumped to 12.5 fils with a 7.41% downturn. Al-Madina For Finance And Investment Co traded the top volume of the day with 6.99 million shares exchanged, Investors Holding Group Company saw a robust activity of 4.97 million shares and The Securities House traded 3.92 million shares on the trading floor.

Al Dar National Real Estate Co also moved 3.85 million shares while 2.5 million shares of National Bank of Kuwait were traded. Telecommunications closed at 593.82 points, 4.77 points higher with significant reductions in volume and value traded as compared to the previous session, albeit amounting to 8.17% of the total market volume and 20.63 of the total market value. Viva made a 10 point leap to KD 1 while Mobile Telecommunications Company – Zain climbed 5 points for a 345 fils finish and traded 2.258 million shares in the session. Ooredoo held ground at KD 1.040 while Hits Telecom Holding Co closed flat at 28 fils. Banks closed 0.57% lower at 901.3 points. The sector accounted for 13.93% of the total market volume and nearly half of the total market value.

National Bank of Kuwait closed flat at 810 fils, trading 2.55 million shares for a value of KD 2 million. Kuwait Finance House slipped 10 points lower to 550 fils and trading 1.19 million shares while Boubyan Bank closed flat at 435 fils and traded 1.57 million shares. Gulf Bank and Kuwait International Bank logged no change in share price from the previous session, finished at 265 fils and 220 fils respectively. Meanwhile Al Ahli Bank of Kuwait and Burgan Bank took 5 point cut to 365 fils and 380 fils respectively. Warba bank skimmed 2 points lower to 196 fils and Ithmaar Bank skimmed 0.5 points lower to 42 fils. The financial services sector closed at 593.6 points, 1.16% lower with marked decreases in volume and value exchanged from last week’s close.

Al-Madina For Finance And Investment Co made a 2 point retreat to 33.5 fils while The Securities House slid 2.5 points lower to 37.5 fils and National Industries Group made a 2 point depress to 124 fils. Privatization Holding Company clambered 1 point higher to 55 fils and Ekttitab Holding Co shed 0.5 points for a 29.5 fils close. Real Estate slumped 1.33% to stand at 928.8 points. The sector accounted for 27.06% of the total market volume and 8.53% of the total market value. Mabanee Company stood firm at 950 fils while Investors Holding Group Company dropped 1.5 points lower to 24 fils and Al Dar National Real Estate Co inched 1 point lower to 27 fils. Al Mudon Intl Real Estate Co made a 0.5 point rise to 30.5 fils and The Commercial Real Estate Co s

Arab Times