KUWAIT CITY, July 23: Kuwait stocks plummet 28.43 points down to close at 5813.07 points with the onset of the holy month of Ramadan, as investors disengage from the market. The 0.8 percent fall marks the lowest intraday level slump since July 1 even as the weighted index tipped 1.96 points lower to 400.21 points. The KSE 15 benchmark sagged 6.87 points lower to finish at 967.72 points. The total number of transactions carried out on the floor equaled 2,274 while the value Traded amounted to KD 17.94 million for a total volume of 111.3 million chares. 112 companies traded today with only 20 closing with green indices, 59 counters closed with losses while 33 remained flat. National Industries Group closed at 194 while diving to an 11-month low after it asked creditors for a four-year extension on a $475 million Islamic bond maturing next month.

Kuwait Gypsum Manufacturing & Trading Co went up 6.94 per cent to close at 154 fils and become the top gainer in terms of percentage with a 38 per cent hike on year to date. Equipment Holding Co recorded a 4.62 per cent change in closing at 136 fils after trading 115,010 shares in the session, 157 per cent higher on a year to date basis.
First Dubai For Real Estate Development Co closed at 35.5 fils with a 4.41 per cent change and Dar Al Thuraya Real Estate Co inched higher by 3.37 per cent to 92 fils. Nafais Holding Company climbed 3 points to finish at 99 fils and trek 3.13 per cent upwards.
Among other gainers, Gulf Cables and Electrical Ind Co surged 20 points higher to KD 1.180 and a 1.72 per cent rise from the previous session but 18 per cent lower year to date after trading 26,255 shares for KD 29,931.

Kuwait Portland Cement Company marched 10 points higher to close at 860 fils, 1.18 per cent rise from Sunday and 16 per cent higher on a year to date basis. Automated Systems Co logged a 2.22 per cent positive change to 460 fils from 450 fils and a 93 per cent year to date change.
Meanwhile Aqar Real Estates Investment Co lead the pack of losers as it trailed 6.85 per cent lower to 68 fils, accruing the highest loss in proportion, Contracting & Marine Services Co dropped by 6.25 per cent and finished at 150 fils and United Foodstuff Industries Group Co wound up at 244 fils with a 6.15 per cent reduction.
Sokouk Holding Co traded a volume of 1.16 million and closed at 16.5 fils, 5.71 per cent lower while Kuwait And Middle East Financial Investment Co skid 5.49 per cent down to 43 fils while trading 16,465 shares. United Foodstuff Industries Group Co dropped 16 points to close at 244 fils.
Also bearing losses, Gulf Bank moved down 10 notches to close at 400 fils with a 2.44 per cent contraction from the previous session and 19 per cent lower year to date. Ahli United Bank also trailed 10 points lower to close at 900 fils. Extending the 10 point drop, Boubyan Bank closed at 610 fils from 620 fils while Kuwait Finance House followed and closed at 700 fils, 21 per cent lower year to date after trading 844,703 shares for KD 591,368.

The Banking Sector overall closed at 962.5 points, 0.33 per cent lower than the start of the week but with a 59.82 per cent upswing in volume and 656.93 per cent swell in value, comprising 51.56 per cent of the total value traded in the market today.
International Financial Advisors traded the highest number of shares of 22.87 million today to close at 43 fils, 2.38 per cent higher than the previous session.
Gulf Finance House followed with 11.3 million shares traded 2.78 per cent lower to 35 fils at closing. International Finance Company made up 9.97 million of the shares exchanged today, closing at 92 fils.
National Bank of Kuwait, stagnant at KD 1.000, for the third day pushed a volume of 7.77 million shares. Al-Madina for Finance and Investment Co down 1.92 percent traded 6.77 million in the session today and closed at 51 fils.

Real Estate encountered a 27.63 percent retrenchment in volume and a 56.69 per cent reduction in value from the previous to close at 888.2 points today. Kuwait Remal Real Estate Co scaled 5 points higher to 350 fils while 858,940 shares changed hands for KD 297,494. International Resorts Co closed at 40 fils, down 2 points, trading 5.56 million for KD 228,262. Mabanee Co remained steady at KD 1.160 and traded 206,400 shares in 12 transactions for KD 239,324. Kuwait Real Estate Co closed at 48 fils with a 1.5 point loss after exchanging 3.14 shares for KD 152,269. The Commercial Real Estate Co remained flat at 73 fils.
Financial Services comprised 64.54 per cent of the total volume traded in the market and 27.74 per cent of the total value. Al-Deera Holding Co eased lower to 34.5 fils and traded 4,278,124 shares for a total of KD 148,895. INOVEST dropped from 38.5 fils to close at 37.5 fils. Gulf Finance House and Ekttitab Holding Co eased 1 point lower to 35 fils and 71 fils respectively while Al Salam Group Holding tumbled down 5 points to 250 fils.

Mobile Telecommunication Company (Zain) remained steady at 700 fils and traded 589,165 shares today for KD 412,397 while Hits Telecom Holding Co eased 3 points lower to close at 69 fils and traded over 2 million shares for KD 141,455.
Agility Public Warehousing Co shed 10 point to finish at 400 fils after trading 432,143 for KD 174,061. Jazeera Airways Co shares closed at 400 fils from 405 fils after trading 477,417 in volume for KD 196,221.
In bourse related news, Kuwait Investment Company announced on Sunday the approval from the Capital Markets Authority on July 12, 2012 to buy back and sell a maximum of 10% of its shares for 6 months as of July 12, 2012 till January 12, 2013. Noting that, the purchase amount should not exceed the finance resources amount available in equity rights.