Kuwait Stock Exchange (KSE) ended last week with variance on its indices. The Price Index closed at 7,832.00 points, up by 0.98% from the week before closing, the Weighted Index increased by 0.19% after closing at 460.94 points, whereas the KSX-15 Index closed at 1,075.14 points down by 0.22%. Furthermore, last week’s average daily turnover decreased by 11.92%, compared to the preceding week, reaching KD 34.77 million, whereas trading volume average was 328.12 million shares, recording decrease of 20.03%. The stock market witnessed a fluctuated performance during last week’s trading caused the three indices to close mixed; as the Price Index and Weighted Index were able to realize limited gains due to the purchasing operations that were performed on many small-cap stocks and few operational stocks, especially in Banking sector, whereas the KSX-15 Index declined as a result to the selling operations that the large-cap stocks witnessed, especially in Telecommunication sector, which was the most declined among the other market sectors.
Furthermore, last week stock market performance came amid a continued active speculative operations, in addition to the purchasing operations that mainly concentrated on the small-cap stocks, thus reflected on the Price Index performance in particular, which was able to end the week trading at its highest closing level for the current year. Moreover, it was noticed during the last week’s trading, a relative slow motion in some large-cap stocks’ performance, as a natural reaction to such stocks increases recorded in the past few weeks, and affected the Weighted Index and KSX-15 Index performance, where it also had an effect on the market trading value, which its daily average declined during last week, in comparison with its levels in the preceding week’s sessions.
On the other hand, the profit collection operations were not absent from influencing the market trading direction during the week, whereas such operations appeared every time the market increased, and came as a result to the hesitant and cautious states that continued to control over many traders whom are waiting for the listed companies 2013 annual financial results. For the annual performance, the price index ended last week recording 3.74% annual gain compared to its closing in 2013, while the weighted index increased by 1.78%, and the KSX-15 recorded 0.63% growth.
Eight of KSE’s sectors ended last week in the green zone, while the other four recorded declines. Last week’s highest gainer was the Consumer Services sector, achieving 3.48% growth rate as its index closed at 1,165.39 points. Whereas, in the second place, the Insurance sector’s index closed at 1,171.10 points recording 1.51% increase. The Real Estate sector came in third as its index achieved 1.40% growth, ending the week at 1,456.85 points. The Health Care sector was the least growing as its index closed at 1,128.41 points with a 0.03% increase.
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