15/02/2016 06:14 AST
Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 5,131.56 points, down by 1.29% from the week before closing, the Weighted Index decreased by 1.95% after closing at 350.36 points, whereas the KSX-15 Index closed at 827.17 points down by 1.59%. Furthermore, last week’s average daily turnover decreased by 26.71%, compared to the preceding week, reaching KD 12.01 million, whereas trading volume average was 141.34 million shares, recording an decrease of 23.18%.
Kuwait Stock Market witnessed a decline in the three stock indicators’ performance last week, among a decreased trading activity compared to a week earlier, as some traders exercised profit collection operations, ignoring the positive results disclosed by some listed companies and banks during the week, which negatively affected the indices performance to end the week in the red zone.
By the end of the week, the number of the companies that disclosed its 2015 financial results reached 42 company, realizing around KD 910.84 million, with an increase of 5.46% from the results of the same companies for the same period of 2014. On the other hand, the market capitalization for the 190 listed companies in the official market reached KD 23.33 billion, declining by KD 365.65 million or 1.54% of its value at a week earlier, where it was KD 23.69 billion. On an annual level, the market has lost about KD 1.94 billion since the beginning of 2016, declining by 7.67%.
As far as the market daily trading activity, the first session of the week witnessed mixed performance for the three indices, whereas the Price Index and KSX-15 Index were able to realize some increase, affected by the positive news of some investment groups, while the Weighted Index decreased slightly as a result to the selling operations executed on some large cap stocks, among a decrease in the trading activity, as the liquidity declined by KD 5 million or about 24%. On the next session, the fluctuation continued in controlling the market trading activity to close with mixed performance for the three indices, where the Price Index and KSX-15 Index continued its gains, however limited, whilst the Weighted Index declined due to the selling pressures; also, the Price Index was able to maintain the 5,200 point level, supported by the active trade on most of the sectors and the strong purchasing operations on the low priced stocks, which are expected to announce good financial results for 2015, in addition to some leading stocks, which pushed the cash liquidity to compensate its previous session’s losses.
On Tuesday’s session, the market recorded a grouped decline for the three indices, whereas the Price Index lost 45.48 point to reach 5,163.80 point, as a result to the heavy selling pressures and the profit collection operations that reached many idle stocks, in a restructuring operation, among a noticeable decline in the trading activity. On Wednesday’s session, the market continued its downward direction, under the effect of the continued strong selling operations and the profit collection operations executed on the leading stocks, especially in the Banks sector, in addition to the speculation operations on the low-priced stocks of previous gains, which caused most of the traded stocks during the session to decline and the three stock market indicators to decrease, among a noticeable drop in the trading activity, especially the volume, which declined by 37.87%. The market ended the last session of the week with a grouped decline for the three indices on Thursday’s session, affected by the continued selling operations executed on the traded stocks throughout the week, where the Price Index lost 66.81 point.
As far as KSE annual performance, the price index ended last week recording 8.61% annual loss compared to its closing in 2015, while the weighted index decreased by 8.21%, and the KSX-15 recorded 8.14% loss.
Arab Times
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