KSE stocks remain bearish

05/07/2010 00:00 AST

Kuwait Stock Exchange started the week with a negative performance following the losses witnessed in the international markets. All major and sectoral indices witnessed losses in yesterday's session. Global General Index (GGI) decreased by 4.43 points (2.45 percent) during the session to reach 176.64 points. The KSE Price Index also fell 111.50 points (1.73 percent) yesterday and closed at 6,320.60 points. Market capitalization went down by KD732.51mn yesterday to reach KD29.20bn.

Market breadth

During yesterday's session, 100 companies were traded. Market breadth was skewed towards decliners, as 82 equities retreated versus 11 that advanced. A total of 119 stocks remained unchanged during the trading session.

Trading activities ended on a negative note yesterday as volume of shares traded on the exchange decreased by 39.52 percent to reach 105.24mn shares, and value of shares traded increased by 1.79 percent to stand at KD21.08mn. The Investment Sector was the volume leader, accounting for 23.65 percent of total market volume. The Services Sector was the value leader, accounting for 34.09 percent of total market value. Gulf Finance House was the volume leader, with a total traded volume of 8.16mn shares. Mobile Telecommunication Co (ZAIN) was the value leader, for a second consecutive day, with a total traded value of KD4.75mn.

In terms of top gainers, Tijara & Real Estate Investment Co increased its gains as it took the top spot, adding 6.76 percent and closed at KD0.04. On the other hand, First Takaful Insurance was the biggest loser, shedding 21.55 percent, and closed at KD0.182, followed by Investors Holding Group Company decreasing by 11.90 percent and closing at KD0.019.

For more on this Click Here

Kuwait Times