Stocks tumble, except for blue chips

18/04/2014 05:10 AST

The rush among some traders and investors to buy blue chip stocks put undue pressure on trading activities on Thursday at the Kuwait Stock Exchange, as many of these traders stayed away from most other stocks, opined two market watchers to KUNA.

There was a noticeable sell off of the blue chips today which impelled many to horde them pending better market conditions next week, they hoped, said stock market analyst Adnan Al-Dulaimi, noting that the lackluster performance in the market this week was due in some measure to the pallor cast on it by a number of strained political factors.

He hoped that more firms coming out with their financial statements for the first quarter performance would help the market turn this untoward corner next week.

Market watcher Muhammad Al-Tarrah agreed with Al-Dulaimi that many investors were holding back today because they were waiting for firms to publish the result of their first quarter statements before they plunged in share-buying.

Nevertheless he said there was a brisk buying of bank shares, especially those banks that had already published their first quarter results, giving the traders the heads-up on the possible trajectory of the stocks of these banks.

The market today closed on 7450 points, down by 64 points. Up to 210 million shares were up for grabs.


KUNA

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941

Stock Market Info

KSE 4,826.96 -19.26 (-0.40%)

Valuation

Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Performance
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Index vs...
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Index Chart

Top Related Companies

Ticker Price Change
NBK 715.00 0.00 (0.00%)
KFIN 518.00 -6.00 (-1.15%)
ZAIN 460.00 -2.00 (-0.44%)
AGLTY 825.00 -10.00 (-1.20%)
BOUBYAN 470.00 1.00 (0.21%)

Recent News

Foreign investors pile into Saudi Arabia in March amid kingdom's FTSE upgrade

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

Muscat bourse gains lifted by activity in financial shares

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

Dubai bourse takes a hit in traded value

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

Financial blue chips drive Muscat bourse recovery

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

Emaar Properties stock hits new one-year low

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

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap