13/07/2014 08:44 AST
Kuwait Stock Exchange (KSE) ended last week in the green zone. The Price Index closed at 7,076.0 points, up by 1.02 percent from the week before closing, the Weighted Index increased by 0.62 percent after closing at 478.23 points, whereas the KSX-15 Index closed at 1,168.63 points up by 0.47 percent, an economic report said here on Saturday.
Furthermore, last week's average daily turnover decreased by 4.09 percent, compared to the preceding week, reaching K.D 11.77 million, whereas trading volume average was 122.24 million shares, recording increase of 13.87 percent, said the report compiled by Bayan Investment Company.
The stock market indices ended the week's trading with various gains, especially the Price Index that was able to maintain the 7,000 point level, supported by the random purchasing operations that concentrated on a number of small-cap stocks, mostly of the Real Estate sector, whilst both the Weighted Index and KSX-15 Index realized simple gains as a result to the limited purchasing operations that included some large-cap stocks, especially in the Banking and Telecommunications sectors, it said.
In addition, the stock market initiated the week's sessions with a decline to all of its indices, to cross the 7,000 point level down, among a noticeable drop in the trading activity, the value in particular, which declined noticeably to reach K.D 5.21 million only, the lowest level ever since approximately 3 years, particularly since August 2011, it added.
Moreover, the stock market continued its decline in the second trading session, among a continued strong selling operations that included many stocks of different sectors, especially the leading Banking sector, and negatively affected the three indicators' performance, especially the KSX-15 Index, which was the most loser among the other two indicators by the of this session, the report said.
Also, the stock market managed to realize good gains during the rest of the week's sessions to include all its indices, in light of the return of the purchasing operations, however was limited when compared to previous ones, whereas the operations were concentrated on the small-cap stocks, which enabled the Price Index to return to the 7,000 point level once again, among an increased trading activity compared to previous sessions, it indicated.
The stock market is currently witnessing a watch state for the listed companies financial results for the first six months period ended on 30 June, which is expected to be disclosed by some companies and local banks during the current week.
For the annual performance, the price index ended last week recording 6.27 percent annual loss compared to its closing in 2013, while the weighted index increased by 5.60 percent, and the KSX-15 recorded 9.38 percent growth.
Seven of KSE's sectors ended last week in the green zone, while the other Five recorded declines. Last week's highest gainer was the Real Estate sector, achieving 2.26 percent growth rate as its index closed at 1,213.05 points. Whereas, in the second place, the Oil & Gas sector's index closed at 1,172.64 points recording 1.94 percent increase. The Financial Services sector came in third as its index achieved 1.91 percent growth, ending the week at 967.81 points, it noted.
On the other hand, the Consumer Services sector headed the losers list as its index declined by 1.89 percent to end the week's activity at 1,124.72 points. The Health Care sector was second on the losers' list, which index declined by 0.33 percent, closing at 1,010.75 points, followed by the Consumer Goods sector, as its index closed at 1,303.55 points at a loss of 0.33 percent, the report indicated.
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