Kuwait stocks ebb 4.13 pts lower to close at 5802.36 pts

02/12/2015 07:45 AST

Kuwait stocks ebbed 4.13 points lower to close at 5802.36 points in the red, with a 0.07 percent decrease and a 11.22 percent drop year to date with major sectors closing below the line. The weighted index eased down to 392.96 points. The KSE 15 shed 6.89 points to close at 929.64 points at the session’s close.

The bourse marked a 97.90 million share turnover to the value of KD 13.79 million in 2,845 trades. 132 counters remained active with more losers than winners, 31 companies advanced, 64 retreated and 37 companies closed with no change.

Mezzan Holding Co was the top gainer of the day, posting a 9.43 percent rise to KD 1.160 with Automated Systems Company following in close step with a 8.33 percent increase to 325 fils. OSOUL Investment Co closed at 37.5 fils with a 7.14 percent hike even as Yiaco Medical Co pulled off a 6.25 percent rise to 170 fils and Ooredoo closed 5.77 percent higher at KD 1.100.

KAMCO Investment Company took a hard 8.93 percent fall to 102 fils with Kuwait Medical Services Co suffering a 7.81 percent decline to 29.5 fils. IFA Hotels & Resorts Co shifted 5.95 percent below the red line to a 158 fils price and Al-Qurain Holding Co followed with a 5.88 percent decline to 8 fils. Meanwhile, Kuwait Syrian Holding Co tumbled 5.36 percent lower to 26.5 fils.

The Securities House traded the highest volume stock of the session of 9.97 million while Abyaar Real Estate Development Co came in second with 7.3 million shares exchanged and Al Dar National Real Estate Co traded 4.82 million shares. At the same time, Ahli united bank and Kuwait Finance House traded 3.5 million and 3.46 million shares on the floor.

Telecommunications closed 0.60 percent lower at 629.5 points making up 5.56 percent opf the session’s total traded volume and 12.8 percent of the total value. Mobile Telecommunications Company — Zain skid down 5 points to 660 fils while Ooredoo took a 60 points gallop to KD 1.100. Hits Telecom Holding Company, meanwhile, inched 0.5 points down to 30.5 fils as Viva lost 20 points to close at KD 1.060.

The banking sector index was 929.2 points at closing, down 0.07 percent with a significant 457.18 percent rise in volume traded from the previous session and accounting for 42 percent of the total traded value on the floor. National Bank of Kuwait logged no changed in share price at 820 fils while Kuwait Finance House plunged 10 points lower to 570 fils. Kuwait International Bank and Warba Bank eased 2 points lower to 224 fils and 204 fils respectively. Ithmaar Bank dipped 0.5 point lower to 45 fils and Boubyan Bank mounted 5 points to close at 440 fils. Gulf Bank held ground at 275 fils while Burgan Bank dipped 5 points lower for a 385 fils finish. Commercial Bank of Kuwait closed at an inert 500 fils.

Arab Times