The photo shows a broad view of the KSE trading floor. The bourse was buoyant during the week even as crude oil prices firmed up after hitting 12-year lows.

KUWAIT CITY, May 16: Kuwait stocks eked modest gains on Tuesday, extending last session’s rebound. The price index rose 19.05 pts in choppy trade to 6,725.3 points even as the broader sentiment remained fickle on absence of strong drivers.The KSX 15 gauge fell 1.56 pts to 917.18 points trimming the year’s gains to 32 pts while weighted index eased 0.29 points. The volume turnover meanwhile surged past the 200 million mark to scale the month’s highest level. 273.5 million shares changed hands – 64.3 pct surge from the day before.The sectors closed mostly in the green zone. Consumer goods outshone the rest with 1.70 pct gain whereas technology shed 2.37 pct, the worst performer of the day. Volumewise, real estate garnered the highest market share of 46.24 pct while financial services trailed with 29.6 percent contribution.In the individual shares, Kuwait Finance House rose 5 fils on back of 3.9 million shares and Mabanee Co recouped Monday’s loss with a 10 fls rise to 800 fils. Kuwait Food Co (Americana) jumped 60 fils to KD 2.520 and Humansoft Holding soared 80 fils.Zain fell 5 fils to 445 fils after trading over 2 million shares and Ooredoo climbed 20 fils to KD 1.240. Kuwait Telecommunications Co (VIVA) fell 10 fils whereas Agility was not traded during the session.National Bank of Kuwait slipped 10 fils to 670 fils and Burgan Bank closed flat. Burgan Bank has registered a 24.6% year-on-year increase in its profits to KD 17.81 for the first quarter of 2017.The market opened on tame note and moved sideways in early trade. The main index slipped briefly into red to plumb the day’s lowest level of 6,692.87 points and clawed back. It picked up momentum in the final hour to peak at 6,728.81 pts before closing with modest gains.Top gainer of the day, Bayan Investment Co extended Monday’s rally with a 9.26 pct surge to 59 fils and Gulf Finance Co climbed 8.62 pct to stand next. Yiaco Medical slid 8.15 pct, the steepest decliner of the day and Abyaar topped the volume with 28.7 million shares.Mirroring the day’s gains, the winners outnumbered the losers. 58 stocks advanced whereas 36 closed lower. Of the 123 counters active on Tuesday, 29 closed flat. 5,306 deals worth KD 21.2 million were transacted – a 17.4 pct rise in value from the day before.National Industries Group fell 2 fils to 116 fils and Gulf Cable gave up 5 fils before settling at 224 fils. Heavy Engineering Industries and Shipbuilding Co and Contracting and Martine Services Co were flat at 224 fils and 63 fils respectively.Jazeera Airways slipped 5 fils to 480 fils and ALAFCO gained 10 fils. The company has posted a 83.3% surge in profits to KD 5.59 million for the quarter ending 31 March 2017 from year before period.Kuwait Cement Co dipped 15 fils to 470 fils and Kuwait Portland Cement Co gained 20 fils. Metal and Recycling Co took in 2 fils whereas NICBM stood pat at 212 fils. Educational Holding Co fell 5 fils to 290 fils.ShedNAPESCO and Combined Group Co shed 20 fils each while Independent Petroleum Group was down 25 fils at 370 fils. KCPC added 4 fils and KPPC held ground at 51 fils. Automated Systems Co dropped 19 fils to 246 fils.UPAC was unchanged at 840 fils and Acico Industries held ground at 275 fils. The company’s first quarter profits rose by 0.78 pct to KD 3.88 mln as compared to KD 3.85 million in Q1 of 2016. Net operating profits was up 11.8 percent to KD 9.87 million in the first quarter.Kuwait and Gulf Link Transport Co took in 2 fils to close at 64 fils and KGL Logistics Co inched 1 fil up to 55 fils. Zimah Holding dialed up 2 fils whereas Mezzan Holding stagnated at 990 fils.In the banking sector, Gulf Bank was unchanged at 244 fils and AhliUnited Bank was up 5 fils at 405 fils. Commercial Bank of Kuwait and Al Ahli Bank were not traded during the session.Kuwait International Bank rose 2 fils to 248 fils on back of 248 fils while Boubyan Bank stood pat at 410 fils off slight early lows. Warba Bank paused at 246 fils.KIPCO was flat at 385 fils while National Investment Co took in 2 fils. Kuwait Investment Co was unchanged at 94 fils while Coast Investment Co and Securities Group Co added 0.5 fil each.KAMCO and KFIC were unchanged at 79 fils and 40 fils respectively whereas Sokouk Holding was up 2.5 fils on back of 17.2 million shares. Kuwait Financial Centre (Markaz) dialed down 2 fils and Arzan Holding inched 1 fil higher.Noor Financial Centre took in 1 fil while Amwal and Al Imtiaz gave up 2 fils each to close at 73 fils and 154 fils respectively. Bayan Investment Co climbed 5 fils on back of 3.9 million shares and Ahleia Insurance Co shed 10 fils.Kuwait Real Estate Co added 3 fils with brisk trading and Salhiya Real Estate climbed 5 fils to 375 fils. United Real Estate Co eased 1 fil and Mazaya Holding Co clipped 2 fils to end at 112 fils.The market has been largely upbeat so far during the week and has gained 55 points in last three sessions. It has dived 117 points from start of the month and is trading 16.67 pct higher year-to-date. KSE, with 208 listed companies, is the second largest bourse in the region.In the bourse related news, Ooredoo Kuwait has posted 26.6 pct jump in profits during the first quarter of 2017 to KD 12.93 million from KD 10.21 million) in same period last year. It had recorded a growth of 75% in profits to KD 46.67 million during 2016.Injazzat Real Estate Development has recorded a 71.5% surge in the first quarter of 2017 to KD 2.35 million from KD 1.37 million in Q1 of 2016. The earnings were boosted by the sale of one of the company’s assets at a profit of KD 1.97 million. In 2016 the profit was up 2.9% at KD 3.2 mln.National Petroleum Services (Napesco) first quarter profit surged 62.7% year-on-year to KD 2.31 million as to compared to KWD 1.42 million in same period last year. It company had earned KD 7.71 million in 2016, up 35.6% from 2015.Aayan Real Estate has recorded a 164.7 percent jump in its profits to KD 536,890 for the first quarter of 2017 from same period in the year before. During 2016, the profit saw a 1.5% uptick to KD 2.75 million in 2016 from the previous year.Kuwait National has registered a 26.17 pct jump in profits to KD 3.23 million during the first quarter of 2017 from same period in 2016. The net operating profit surged 61.3% to KD 1.3 million.By John Mathews - Arab Times Staff