KSE index starts week trading in red

25/10/2010 00:00 AST

Kuwaiti equities ended yesterday's session on a higher note. Investors overcame early selling pressure, helping major indices nudge out of the negative territory. Zain & Securities Group hogged the lime light yesterday as Securities Group Co, said it received a request from investors to purchase more than 5 percent of Mobile Telecommunications Co (Zain) at 1.650 dinars a share, the company said in an advertisement in newspapers yesterday.

Market indices

Global General Index (GGI) closed 0.35 points down (0.16 percent), at 217.13 point as the market capitalization increased reaching KD35.13 million. On the other side, Kuwait Stock Exchange Price Index closed in the green zone adding 18.60 points (0.27 percent) from its value and closed at 6,963.10 point.

Market breadth

During the session, 111 companies were traded. Market breadth was skewed towards advancers as 42 equities advanced versus 38 that retreated.

Daily trading activity

Trading activities ended on a negative note. Volume of shares traded on the exchange decreased by 10.11 percent to reach 230.32 million shares, the value of shares traded decreased also by 10.19 percent to stand at KD47.33 million.

The investment sector was the volume leader, accounting for 38.32 percent of total shares traded, while the Banking Sector was the value leader, with 45.52 percent of total traded value. Company-wise, Burgan Bank was the volume leader, with a total traded volume of 31.65 million shares changing hands. Burgan Bank was also the value leader, with a total traded value of KD15.22 million.

Top gainers and biggest decliners

In terms of top gainers, Hits Telecom Holding was the biggest gainer for the day, adding 7.46 percent and closed at KD0.072. On the other side, Kuwait Financing & Investment Co came in as the biggest decliner, dropping by 11.76 percent and closed at KD0.038.

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Kuwait Times