GulfBase Live Support
Leave a message and our representative will contact you soon
25/01/2016 06:45 AST
Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 4,946.33 points, down by 6.07% from the week before closing, the Weighted Index decreased by 7.08% after closing at 330.24 points, whereas the KSX-15 Index closed at 767.74 points down by 7.32%. Furthermore, last week’s average daily turnover increased by 14.39%, compared to the preceding week, reaching KD 15.90 million, whereas trading volume average was 143.68 million shares, recording an increase of 64.60%.
The three stock market indicators declined steeply and reached significant low levels as a result to the strong selling pressures that included many stocks of different sectors, especially the leading the heavy ones in the Banks Sector, which affected the KSX-15 Index’s performance in particular, as it is still recording historical declines and it reached levels that never witnessed since its inception in May 2012.
The market losses during the last week came in light of the increased selling operations, among a noticeable growth in the trading activity compared to a week earlier, especially the trading volume, which increased by more than 64%, whilst the liquidity level increased by only 14.39%.
The stock market initiated its first session of the week with noticeable losses for the three indices as a result to the sharp selling pressures that most of the stocks witnessed in all sectors except for the Insurance Sector, which non of its stocks were traded during the session, while the selling operations concentrated on the leading and heavy stocks, especially in the Banks Sector, where its index decline by the end of the session by more than 5%.
On the next session, the market witnessed a mixed performance for the three indices, as the Weighted and Price indices continued its losses in light of the continued selling operations and quick speculations executed on some stocks, whilst the KSX-15 Index was able to realize a small gain supported by the random purchasing operations executed on a limited number of the heavy stocks.
On Tuesday’s session, the market was able to hold and return to the green zone once again, as its three indices realized gain for the first time since the beginning of the year, especially that the Price Index was not able to record any gain since the end of 2015. Such performance came in light of the random purchasing operations that included some stocks of big losses in previous sessions.
Also, the stock market did not succeed in keeping its upward direction, as its three indices declined in the last two sessions of the week, which added to the market losses on the weekly level significantly.
On the other hand, the drop in prices of many stocks during last week’s trading caused the market cap to lose around KD 1.56 billion, to reach KD 21.58 billion, compared to KD 23.54 billion at the end of a week earlier.
Sectors’ Indices
All of KSE’s sectors ended last week in the red zone. Last week’s biggest loser was the Banks sector, as its index declined by 9.14% to end the week’s activity at 761.74 points. Whereas, in the second place, the Financial Services sector’s index closed at 506.72 points recording 8.50% decrease. The Basic Materials sector came in third, as its index closed at 844.10 points at a loss of 7.79%. The Telecommunications sector was the least declining as its index closed at 575.19 points with a 2.02% decrease.
Arab Times
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
05/04/2018
Foreign investors bought $1.18 billion in Middle East and North African equities in March, especially Saudi ones amid the kingdom’s upgrade to emerging market status by FTSE Russell, according to a r
The National
05/04/2018
Buying activity in financials lifted the MSM30 Index to 4,794.61 points, up 0.41 per cent. The MSM Sharia Index closed at 676.52 points, down 0.08 per cent. Gulf Investment Services was the most acti
Times of Oman
05/04/2018
Traded value on the Dubai Financial Market tumbled on Wednesday as global stocks declined amid an intensifying US-China trade war. In Abu Dhabi, banking shares surged ahead of first quarter results s
Gulf News
04/04/2018
Driven by financial blue chips, the MSM30 Index continued its recovery to close at 4,775.27 points, a gain of 0.53 per cent. The MSM Sharia Index ended at 677.06 points, down 0.07 per cent. HSBC Bank
Times of Oman
04/04/2018
Emaar Properties shares extended losses for another session on Tuesday, to hit their lowest level in a year, as selling continued on the wider Dubai gauge. Emaar Properties fell to a low of Dh5.58, b
Gulf News