Kuwait index retreats 9.37 pts;volume dips –NBK climbs 10 fils;Zain fl

23/02/2016 06:08 AST

The KSX 15 gauge rose 6 pts to 828.94 points trimming the year’s losses to 54 points while weighted index edged 2 pts higher. The volume turnover meanwhile dipped during the session after rebounding on Thursday. 107.26 million shares changed hands, a 28.8 pct drop from the last trading day.

The sectors closed mixed. Telecommunications outshone the rest with 1.83 percent gain while financial services slid 2.98 pct, the worst performer of the day. In terms of volume, financial services accounted for the highest market share of 39.11 pct while banks and real estate followed with 24 pct and 23.4 percent contributions respectively.

In the individual shares, National Bank of Kuwait climbed 10 fils to KD 0.720 recouping the fall in last session and Kuwait Finance House followed suit to end at KD 0.490 with a volume of 1.89 million. Gulf Insurance Group slid 50 fils to KD 0.700.

Zain was unchanged at KD 0.350 while Wataniya Telecom (Ooredoo) soared 100 fils to KD 1.160 . Kuwait Telecommunications Co (VIVA) held steady at KD 0.910 off early lows and Agility gives up 5 fils to end at KD 0.42.

National Investment Co inched 1 fils up whereas Kuwait Projects Company (KIPCO) stood pat at KD 0.550. The company has posted a net profit of KD 53.02 million and earnings per share of 34.05 fils in 2015 and the BOD has recommended 25 percent cash dividends.

The market opened flat and edged higher in early trade. The main index peaked at 5,158.33 pts before heading south as investors turned cautious. It hit the day’s lowest level of 5112.38 points almost half way into the session and moved sideways before closing with slight losses.

Top gainer of the day, Ooredoo vaulted 9.43 pct to KD 1.160 while Gulf Finance House climbed 7.22 percent to stand next. Automated Systems Co sank 8.4 pct, the steepest decliner of the day and Ithmaar Bank topped the volume with 19.9 million shares.

The market spread almost even. 42 stocks advanced whereas 41 closed lower. Of the 127 counters active on Sunday, 44 closed flat. 2410 deals worth KD 7.2 million were transacted — a 36 pct drop in value from the day before.

National Industries Group was unchanged at 114 fils off early lows and Kuwait Cement Co too did not budge from its earlier close of KD 0.365. Gulf Cable and ACICO Industries Co were flat at KD 0.335 and KD 0.270 respectively while NICBM took in 2 fils.

Equipment Holding Co eased 1 fils to 51 fils and Kuwait Portland Cement Co gained 20 fils. The company has posted a net profit of KD 4.82 million and earnings per share of 50.50 fils during the full year of 2015 as compared to net profit of KD 8.26 million and earnings per share of 86.56 fils. The Board of Directors has recommended 50% cash dividends in addition to 5% bonus shares.

Clipped
ALAFCO clipped 2 fils to KD 0.188 and Jazeera Airways Co. closed flat. The company has posted a net profit of KD 15.38 million and earnings per share of 37.82 fils in the full year 2015 rebounding from a net loss of KD 2.88 million and loss per share of 6.87 fils in the year before. Board of Directors has recommended 15% cash dividends.

Kuwait and Gulf Link Transport Co fell 1 fils to 40 fils and KGL Logistics Co followed suit to end at 56 fils. Humansoft Holding Co dived 40 fils to KD 0.760. Kout Food Group shed 30 fils whereas Mezzan Holding Co paused at KD 1.040. Yiaco Medicals Co climbed 10 fils to KD 0.198 and Boubyan Petrochemical Co stood pat at 27 fils.

In the banking sector, Gulf Bank was unchanged at KD 0.204 and Boubyan Bank too did not budge from its earlier close of KD 0.390. Commercial Bank of Kuwait and Al Ahli Bank were not traded during the session.

Burgan Bank rose 5 fils to KD 0.335 and whereas Ahli United Bank gave up 5 fils to settle at KD 0.435. Kuwait International Bank slipped 2 fils to 192 fils whereas Warba Bank closed unchanged at 180 fils off ea

Arab Times