publish time

02/07/2017

author name Arab Times

publish time

02/07/2017

Boursa Kuwait ended last week with mixed Performance. The Price Index closed at 6,772.09 points, down by 0.57% from the week before closing, the Weighted Index increased by 0.80% after closing at 402.97 points, whereas the KSX-15 Index closed at 920.21 points up by 2.10%. Furthermore, last week’s average daily turnover increased by 103.91%, compared to the preceding week, reaching K.D 12.17 million, whereas trading volume average was 49.82 million shares, recording an increase by 63.71%.Boursa Kuwait witnessed a mixed closing to the three indices, whereas the Weighted and KSX-15 indices recorded growth, while the Price Index could not realize gain, to end the week in the red zone, amid a fluctuated performance, and in light of a continued control of the speculation methodology over the trading behavior in the market, which is mainly concentrated on the small-cap stocks.  The market witnessed such performance in light of a noticeable growth in the trading activity during most of the daily sessions, which caused the total value and volume to grow by the end of the week, where it increased by 103.91% and 63.71% respectively.Also, the profit collection operations were not absent from influencing the trading activity of the market during the week, as the three market indices decreased in some daily sessions, affected by such operations, which pushed the Price Index to end the week’s trading in the red zone, and limited the Weighted and KSX-15 indices’ gains to a certain point.The Boursa Kuwait added around K.D. 163 million in gains to its market cap in the last five sessions of the holy month of Ramadan, whereas the market capitalization reached by the end of the week, before the holiday, around K.D. 26.74 billion, up by 0.61% compared to its level in a week earlier, where it was K.D. 26.57 billion.  On an annual level, the market cap for the listed companies in the market recorded a growth of 5.23% from its value at end of 2016, where it was then K.D. 25.41 billion.As per the daily trading activity, the market witnessed in the first session of the last week of Ramadan a good performance that enabled it to record increases to its three indices, in light of the support received by the strong purchasing operations that targeted many listed stocks, mainly the leading ones, and especially in the Banks sector.  Such performance came amid a good growth in the cash liquidity compared to its level with the previous session, whereas the value reached at end of Sunday’s session K.D. 12.20 million, up by about 29%.Also, the Boursa witnessed in the next session a mixed closings for the three indices, whereas the Weighted and KSX-15 indices continued recording gains for the second consecutive session, supported by the continued active trading and the purchasing operations on the leading stocks, while the Price Index declined by the end of the session, affected by the profit collection operations that targeted the small-cap stocks.  The market witnessed such performance in light of a continued increase in the cash liquidity for the second consecutive session, where the value recorded an increase of 37%, to reach about K.D. 16.70 million, its highest level during the month.On the mid-week session, the Boursa Kuwait witnessed a mixed closing to the three indices, as the Price Index continued losing points to drop by the end of the session by 0.68% affected by the continued profit collection operations executed on the small-cap stocks; the Weighted Index recorded also a slight decrease of 0.03% by the end of the session, while the KSX-15 went against the current and was able to end the session in the green zone, supported by the continued purchasing powers on some leading stocks.Moreover, the Boursa witnessed in the next session a negative performance that had a negative impact on its indices’ performance, which recorded a steep decline affected by the strong selling pressures that targeted many stocks of different sectors, especially in the Banks sector.  This performance came amid some growth to the value, did not exceed 1% however.  The last session of the week witnessed a mixed closing to the Boursa indices, as the Weighted and KSX-15 indices were able to increase, while the Price Index closed in the red zone.  The market witnessed such performance in light of a declined trading activity compared to the previous session, as the value dropped by 41.89%, and the volume decreased by the end of the session by 20.92%.For the annual performance, the Price Index ended last week recording 17.81% annual gain compared to its closing in 2016, while the Weighted Index increased by 6.02%, and the KSX-15 recorded 3.98% growth.Boursa Performance Post to Eid HolidayBoursa Kuwait resumed duties last Wednesday and Thursday on 28th & 29th June, after it closed during Eid Al-Fitr, and witnessed during both sessions a negative performance where the three indices ended the trading in the red zone, as the Price Index closed by the end of last Thursday’s session at 6762.82 point, down by 0.14% compared to the previous Thursday’s closing prior to the Eid holiday, the Weighted Index closed at 399.33 point down by 0.90%, and KSX-15 lost about 1.10% after closing at 910.10 point.On the other hand, the first half of the current year has ended by the end of last week, as the Boursa closed this period with limited gains for its three indices’ closings, whereas the Price Index recorded a growth of 3.49% since the beginning of the current year, the Weighted Index gains reached 3.53%, and the KSX-15 Index grew by 3.49% since the beginning of the year.Sectors’ IndicesSeven of Boursa Kuwait’s sectors ended last week in the red zone, while the other five recorded increases. The Consumer Services sector headed the losers list as its index declined by 9.74% to end the week’s activity at 1,084.19 points. The Oil & Gas sector was second on the losers’ list, which index declined by 6.96%, closing at 969.37 points, followed by the Telecommunications sector, as its index closed at 590.14 points at a loss of 2.62%. The Insurance sector was the least declining as its index closed at 1,077.95 points with a 0.39% decrease.On the other hand, last week’s highest gainer was the Health Care sector, achieving 12.66% growth rate as its index closed at 1,635.51 points. Whereas, in the second place, the Industrial sector’s index closed at 1,887.07 points recording 3.64% increase. The Basic Materials sector came in third as its index achieved 0.86% growth, ending the week at 1,254.03 points.Sectors’ ActivityThe Financial Services sector dominated a total trade volume of around 79.28 million shares changing hands during last week, representing 31.83% of the total market trading volume. The Banks sector was second in terms of trading volume as the sector’s traded shares were 30.06% of last week’s total trading volume, with a total of around 74.88 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 27.08 million or 44.50% 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 15.95 million representing 26.21% of the total market trading value.For more information, please visit our website: www.bayaninvest.com