KSE records gains despite trading retreatment

05/09/2010 00:00 AST

Kuwait Stock Exchange (KSE) ended the week in the green zone. Both of the market main indices recorded gains despite the retreatment of KSE trading activities indicators. The market price index ended last week with an increase amounted to 0.87 percent, while the weighted index raised by 1.73 percent compared to the closings of the week before. In addition, last week's average daily turnover decreased by 15.69 percent, compared to previous week, reaching 29.16 million Kuwaiti dinars, whereas trading volume average was 138.71 million shares, recording retreat of 18.06 percent. The daily performance of KSE indices was marked with limited changes. The last minutes deals had a significant role in directing the indices daily closing.

In addition, Banks sector kept its role as the main player during last week in the shadow of the government decision to finance the development plan through the banking system.

Nevertheless, other leading stocks played significant role during last week, some of them seized notable amount of daily turnover in some days. Moreover, low price stocks had its share to form traders' attention.

Furthermore, speculations were the main market criteria during last week, along with profit taking. The result was a hesitant daily performance for both market main indices, where some days the market indices had a variance in the daily closing. Nevertheless, both of them managed to end the week in the green zone ended the week in the red zone.

By the end of the week, the price index closed at 6,703.2 points, up by 0.87 percent from the week before closing, whereas the weighted index registered a 1.73 percent weekly gain after closing at 441.21 points.

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Al Watan