KSE rises 0.38% at week''s end, trading volume drops 24.52%

18/03/2012 09:58 AST  Al Watan

Kuwait Stock Exchange (KSE) ended last week in the green zone. The price index ended last week with an increase amounted to 0.38 percent, while the weighted index raised by 1.45 percent compared to the closings of the week before. Furthermore, last week's average daily turnover decreased by 25.58 percent, compared to the preceding week, reaching 41.33 million Kuwaiti dinars, whereas trading volume average was 479.32 million shares, recording decrease of 24.52 percent.

KSE managed to keep its positive performance by recording gains for both of its indices. The price index managed in the last two days to recover from the losses of the first three days in the week, as a result of the selling trend on low price stocks, and in response to its positive performance during the last week. On the other hand the leading stocks, especially on the Banks sector, played major role to support the weighted index.

Moreover, the stock market outperformed last week in spite of its current watch state, as the traders are waiting for the listed companies' 2011 financial results; noting that the declared companies reached 44 percent so far, however most of the legal notice period (given three months) have already passed. The total number of declared companies reached 90 out of 205 listed companies, realizing approximately KD 1.61 billion, with a decline of 17.85 percent compared to same companies' results for 2010.

By the end of the week, the price index closed at 6,200.4 points, up by 0.38 percent from the week before closing, whereas the weighted index registered a 1.45 percent weekly gain after closing at 419.86 points.

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