Kuwait bourse adds 10.84 pts; volume up

11/11/2015 06:11 AST

Kuwait stocks headed north on Monday extending the gains to second straight session. The price index, after a wobbly start closed 10.84 pts higher at 5,787.68 points led by banking and financial sector shares. The sentiment was cautiously positive even as investors eye fresh cues.

The KSX 15 gauge jumped 15.11 pts to 950.37 points taking the month’s gains to 26 points while weighted index rose 5.05 point. The volume turnover meanwhile saw a modest swell after receding slightly in the last session. 149.58 million shares changed hands — a 10.14 pct increase from Sunday.

The sectors closed mostly in the green. Technology outperformed the rest with 2.12 pct upswing whereas industrials dropped 1.27 pct, the biggest loser of the day. In terms of volume, real estate topped with 36.16 pct market share while financial services stood next with 31.59 percent. Basic materials was a distant third with 7.67 pct contribution.

In the individual shares, KIPCO rallied 20 fils on back of 2.54 million shares and Mabanee Co rose 15 fils to KD 0.880. Kuwait Cement Co was up 15 fils at KD 0.395 and Automated Systems climbed 20 fils. Kout Food Group gained 10 fils.

Bourse heavyweight Zain rose 10 fils to KD 0.380 on back of 1.89 million shares whereas Wataniya Telecom (Ooredoo) held the ground steady at KD 1.060. Kuwait Telecommunication (VIVA) soared 30 fils to KD 0.900 recouping the losses in the last session and Agility was flat at KD 0.510 after trading 3.6 million shares.

National Bank of Kuwait rallied 20 fils on back of over 4 million shares and Ahli United Bank gained 20 fils. Kuwait Finance House was up 10 fils with a volume of 5.4 million and Al Ahli Bank added 15 fils to end at KD 0.385.

The market opened flat and ticked briefly up in early trade. The price index however slipped into red to hit the day’s lowest level of 5,767.75 pts and pulled up to trade sideways till the mid-session. It edged higher again to peak at 5,794.65 pts before sagging slightly at close.

Top gainer of the day, Gulf Insurance Co spiked 8.33 pct to KD 0.650 and Manafae Holding Co jumped 7.81 pct to stand next. Humansoft Holding Co dived 10.64 percent, the steepest decliner of the day and Investors Holding Co topped the volume with 12.4 million shares.

Mirroring the day’s uptick, the winners outnumbered the losers. 54 stocks advanced whereas 40 closed lower. Of the 139 counters active on Monday, 45 closed flat. 3,943 deals worth KD 21.03 million were transacted — a 53.56 pct surge in value from the day before.

National Industries Group took in 2 fils on back of 2.3 million shares and RISCO slipped 5 fils. The company has registered a net profit of KD 3.22 million and earnings per share of 34.68 fils in the January-September period.

Steady
Gulf Cable held steady at KD 0.405 whereas Qurain Petrochemical Industries Co dialed up 2 fils. The company has posted a net profit of KD 6.61 million and earnings per share of 6.31 fils in the nine-month period ending Sept 30, 2015 as against net profit of KD 14.76 and earnings per share of 14.03 fils in the year before period.

Kuwait Portland Cement was unchanged at KD 1.120 while Metal and Recycling Co inched 1 fil up. ACICO Industries Co paused at KD 0.280 while Boubyan Petrochemicals Co gave up 10 fils to settle at KD 0.570. Kuwait National Cinema Co dropped 10 fils to KD 0.960.

Automated Systems Co gained 20 fils whereas City Group Company shed 20 flls. The company has logged a net profit of KD 5.26 million and earnings per share of 46.56 fils in the nine-month period ending Sept 31, 2015 up from net profit of KD 4.15 million and earnings per share of 36.75 fils in the first nine months of 2014.

Combined Group Contracting Co was flat at KD 0.790 and Mezzan Holding Co stagnated at KD 1.100. The company has clocked a net profit of KD 16.15 million earnings per share 54.49 fils in

Arab Times