KSE price index ekes weekly gain – Market capitalization slips 0.4 pct

24/04/2016 05:49 AST

This has been not a positive week for the indices. As KSE price index closed up 0.88%, 5346.95 up 46.44 points compared to the week before the only positive index for the week. As for the MUDX it lost 0.07% down 0.36 points to close at 526.56 for the week. KSE Weighted was down as well to 363.68 down 0.38% and 1.39 points to the previous week .While the market blue-chip index the KSX15 was hit the biggest with a 7.78 points decrease to close at 855.36 down 0.90%.

Brent crude oil witnessed an increase on a weekly basis to reach 45.93$ . The reported weekly volumes were 949.33 million shares compared to 1246.36 million shares in previous week a decrease of 23.8% in share trading. Among the major contributors again the Financial Services Sector (contributing 35.64%) witnessed 338.24 million shares of trading compared to 541.41 million shares in the previous week, while Real Estate Sector (contributing 29.82%) witnessed 283.00 million shares of trading compared to 354.77 million shares in the previous week.

The overall Market Cap was down by 0.4% as it stood at KD 24.96 billion .As for The Blue Chips National Bank of Kuwait — NBK (Mcap — KD 3.49 billion) saw its market cap decrease for the week with to 1.49%. Moreover, Kuwait Food Co. –Americana (Mcap — KD 1.02 billion) saw its market cap move down by 1.54%. While Kuwait Projects Co-KIPCO ( Mcap — KD 810.46 million) saw its market cap decrease to 3.51% . However ,Commercial Bank of Kuwait- CBK (Mcap — KD 643.56 million) saw its market cap increase 4.88% on a weekly basis.

Another generous gainer this week was Human Soft Holding Co — HUMANSOFT (Mcap — KD 89.23 million) saw an increase of 30% having announced positive reports.

On the total market breadth, Of the 56 Islamic Companies, 23 advanced while 16 declined during the week.

The Islamic universe market cap witnessed a decrease of 0.08% in its market cap to close at KD 6.45 billion. The universe heavyweights like Kuwait Finance House — KFH (Mcap — KD 2.40 billion) saw an decrease of 2.04% in its market cap. While Boubyan Bank (Mcap — KD 877.40 million) also saw an decrease of 1.22% in its market cap. Ahli United Bank — AUB ( Mcap — KD 744.92 million) saw an increase of 3.96% in its market cap to be the only gainer in the large cap Islamic Companies. Kuwait Telecommunications Co. (Mcap- KD 509.39 million) was stable for the week.

Arab Times