Bourse closes session with 109.8 points hike

14/03/2011 00:00 AST

Kuwait Stock Exchange (KSE) closed Sunday's session with the benchmark posting hike of 109.8 points settling at 6,396.4 points.

Volume of traded stocks amounted to 295 million, valued at 52.3 million Kuwaiti dinars, for 5,428 spot deals.

Indices of the eight sectors rose, with the services increasing 252.4 points, followed by industries, 119.7, and food 117.2.

Stock of Al-Safat Real-Estate Company was the top gainer, 11.4 percent, followed by that of Safwan Trading and Contracting Company (Safwan), 10 percent, then the share of the Gulf Cement Company (GCC), 9.2 percent.

Number-one loser was the share of the Commerce and Real-Estate Investment Company, 3.9 percent, followed by that of Livestock and Trading Company, 3.4 and IVA hotels company, 2.9. KSE started trade this week on a green with the price index up 38.8 points to 6,325.4 points by 9:18 a.m., with the weighted index also on a green of 448.37 points at the time, an up of 2.63 points.

Trades came to 1,032 transactions worth KD 12,513,070, and 58,380,000 stocks changed hands.

All sector indices were also green at the time, except for insurance which stayed unchanged from previous closing.

KSE benchmark rose 11.6 points in pre-midday trading on Sunday reaching the level of 6,387.2 points.

Volume of the traded shares reached around 202.9 million, valued at KD 36.3 million, for 3,606 spot deals.

The bourse started trade, early Sunday, on a green with the price index up 38.8 points to 6,325.4 points by 9:18 a.m., with the weighted index also on a green of 448.37 points at the time, an up of 2.63 points. Trades came to 1,032 transactions worth KD 12,513,070, and 58,380,000 stocks changed hands. All sector indices were also green at the time, except for insurance which stayed unchanged from previous closing.

Market value of the KSE is currently estimated at KD 32 billion.

In related news, Kuwait's Zain hit a month-high on Sunday after receiving a new bid for a stake in its Saudi unit, while Gulf Arab stocks rose as investor fears unrest would spread to top oil exporter Saudi Arabia eased.

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Agencies