Kuwait equity market ends week on mixed note

28/02/2018 05:44 AST

Boursa Kuwait ended last week with mixed performance. The Price Index closed at 6,756.54 points, down by 0.11% from the week before closing, the Weighted Index decreased by 0.13% after closing at 410.14 points, whereas the KSX-15 Index closed at 948.62 points up by 0.23%.Furthermore, the week’s average daily turnover increased by 11.49%, compared to the preceding week, reaching K.D 10.74 million, whereas trading volume average was 61.89 million shares, recording a decrease of 0.88%.

For the annual performance, the Price Index ended last week recording 5.44% annual gain compared to its closing in 2017, while the Weighted Index increased by 2.17%, and the KSX-15 recorded 3.69% growth.

Sectors’ Indices

Eight of Boursa Kuwait’s sectors ended last week in the red zone, four recorded increases. The Financial Services sector headed the losers list as its index declined by 2.69% to end the week’s activity at 611.52 points. The Banks sector was second on the losers’ list, which index declined by 1.37%, closing at 939.24 points, followed by the Basic Materials sector, as its index closed at 1,304.09 points at a loss of 0.99%. The Telecommunications sector was the least declining as its index closed at 543.11 points with a 0.01% decrease.

On the other hand, last week’s highest gainer was the Industrial sector, achieving 2.86% growth rate as its index closed at 1,855.23 points. Whereas, in the second place, the Technology sector’s index closed at 542.28 points recording 2.85% increase. The Insurance sector came in third as its index achieved 1.15% growth, ending the week at 1,033.99 points.

Sectors’ Activity

The Banks sector dominated a total trade volume of around 112.62 million shares changing hands during last week, representing 36.39% of the total market trading volume. The Financial Services sector was second in terms of trading volume as the sector’s traded shares were 22.40% of last week’s total trading volume, with a total of around 69.32 million shares.

On the other hand, the Banks sector’s stocks were the highest traded in terms of value; with a turnover of around K.D 32.23 million or 60.01% of last week’s total market trading value. The Industrial sector took the second place as the sector’s last week turnover was approx. K.D 6.50 million representing 12.09% of the total market trading value.

Arab Times