26/09/2010 00:00 AST
Kuwait Stock Exchange (KSE) ended the week with variance in its indices. The market price index ended last week with an increase amounted to 0.02%, while the weighted index decreased by 1.12% compared to the closings of the week before. In addition, last week's average daily turnover decreased by 20.54%, compared to the preceding week, reaching KD 46.35 million, whereas trading volume average was 286.23 million shares, recording increase of 7.54%.
Moreover, Banks sector kept its role as the main player during last week. The debates and news about the government decision to finance the development plan through the banking system, remained dominating the market atmosphere, as the last week witnessed many reports about the expectation for financing mechanism, of which some of it concluded that the Banks does not have enough capabilities to finance the development plan.
As a result, the market witnessed hesitant performance. Speculations and profit taking were the main features for the last week trading, especially for the leading stocks, causing the weighted index to record decline. Nevertheless, small stocks supported the price index and made it end the week in the green zone. By the end of the week, the price index closed at 6,840.1 points, up by 0.02% from the week before closing, whereas the weighted index registered a 1.12% weekly loss after closing at 452.30 points
.
Sectors' Indices: Four of KSE's sectors ended last week in the green zone, while the other four recorded declines. Last week's highest gainer was the Insurance sector, achieving 4.52% growth rate as its index closed at 2,641.1 points. Whereas, in the second place, the Industry sector's index closed at 5,633.9 points recording 1.53% increase. The Food sector came in third as its index achieved 0.47% growth, ending the week at 4,684.3 points. On the other hand, the Banks sector headed the losers list as its
index declined by 1.86% to end the week's activity at 10,570.9 points. The Non Kuwaiti companies sector was second on the losers' list, which index declined by 1.54%, closing at 6,973.6 points, followed by the Services sector, as its index closed at 14,762.2 points at a loss of 0.35%.
Sectors' Activity: The Investment sector dominated total trade volume during last week with 432.82 million shares changing hands, representing 30.24% of the total market trading volume. The Real Estate sector was second in terms trading volume as the sector's traded shares were 26.44% of last week's total trading volume, with a total of 378.38 million shares. On the other hand, the Banks sector's stocks where the highest traded in terms of value; with a turnover of KD 67.58 million or 29.16% of last week's
total market trading value. The Services sector took the second place as the sector's last week turnover of KD 58.80 million represented 25.37% of the total market trading value.
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