Kuwait indices continue bullish trend

29/01/2017 06:24 AST

The KSE Indices witnessed a positive week as indices increased this week. The KSE price index closed at 6,852.3 an increase of 6.47% up 416.55 points compared to the previous week. As the MUDX witnessed an increase this week of 4.40% to close at 658.60 for the week. Furthermore, the market blue-chip index the KSX15 closed on an increase of 42.85 points up 4.54% during the week to close at 987.70.

* The reported weekly volumes were 4339.41 million shares compared to 3,766.66 million shares in previous. Among the major contributors, the Financial Services Sector (contributing 38.08%) witnessed 1,652.34 million shares of trading compared to 1,455. Million shares in the previous week, while Real Estate Sector (contributing 33.12%) witnessed 1,437.25 million shares of trading compared to 1,243.95 million shares in the previous week.

* The overall Market Cap witnessed an increase this week as it stood at KWD 29.58 billion up 5.0% on weekly basis. As for the blue chips, National Bank of Kuwait — NBK (Mcap – KWD 4.17 billion) saw its market cap increased by 7.25 % this week due to positive end of the year financials ,moreover, NBK announced cash dividend 30% and bonus shares 5%. Furthermore, Mobile Telecommunication Co — Zain ( Mcap — KWD 2.09 billion) saw its market cap increased by 3.19%. Moreover, Ahli United Bank — AUB (Mcap — KWD 1.58 billion) saw it market cap increased by 11.54%.

* On the total market breadth, Of the 56 Islamic Companies, 41 advanced while 7 declined during the week.

* The Islamic universe market cap witnessed its market cap an increase of 5.19% to close at KWD 8.083 billion. The universe heavyweights Kuwait Finance House — KFH (Mcap — KWD 3.197billion) saw its market cap increased by 5.17% during the week. However, Boubyan Bank (Mcap — KWD 899.06 million) saw its market cap increased by 1.22% during the week. Kuwait Telecommunication Co — VIVA (Mcap-KWD 459.45 million) saw its market increased by 2.22% during the week.

Arab Times