Published On: Sun, Dec 28th, 2014

KSE makes up for previous weeks’ losses

kuwait stock exchange

kuwait stock exchange

Kuwait Stock Exchange (KSE) ended last week in the green zone. The Price Index closed at 6,577.81 points, up by 5.58 percent from the week before closing, the Weighted Index increased by 5.95 percent after closing at 441.59 points, whereas the KSX-15 Index closed 1,069.99 points up by 7.19 percent.
The KSE was able to compensate some of its previous weeks’ losses, as its three stock indicators ended the week’s trading activity with varied gains, supported by the purchasing power witnessed by many listed stocks and headed by the large-cap and operational stocks, showed a report by Bayan Investment Company.
This performance came among a noticeable improvement in the trading activity compared to the preceding week, whereas the optimistic environment witnessed by the market was reflected on the trading activity, and had a positive impact on the market capital, which realized a weekly gain of 6.09 percent after it reached K.D. 28.19 billion by the end of last week, compared to a K.D. 26.57 billion by the end of the preceding week, it said.
On the last session of the week, the stock market witnessed a mixed performance for its three indices, whereas the Price Index was able to continue its positive performance, ending the session in the green zone, whilst the Weighted and KSX-15 indices couldn’t, to end the session with losses affected by the profit collection operations, but was not enough to push both indices to close in the red zone on the weekly level, however lightened its gains, it added.
For the annual performance, the price index ended last week recording 12.87 percent annual loss compared to its closing in 2013, while the weighted index decreased by 2.49 percent, and the KSX-15 recorded 0.15 percent growth.
All KSE sectors ended last week in the green zone except for one sector. Last week’s highest gainer was the Telecommunications sector, achieving 11.46 percent growth rate as its index closed at 547.48 points. Whereas, in the second place, the Real Estate sector’s index closed at 1,133.03 points recording 9.81 percent increase.
The Financial Services sector came in third as its index achieved 6.82 percent growth, ending the week at 847 points. The Health Care sector was the least growing as its index closed at 940.27 points with a 2.79 percent increase. On the other hand, the Consumer Services sector was last week’s only loser as its index declined by 0.58% to end the week’s activity at 1,086.62 points.
The Financial Services sector dominated a total trade volume of 814.65 million shares changing hands during last week, representing 45.70% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 22.30 percent of last week’s total trading volume, with a total of 397.51 million shares, the report indicated.
On the other hand, the Banks sector’s stocks were the highest traded in terms of value; with a turnover of K.D 46.96 million or 25.98 percent of last week’s total market trading value. The Financial Services sector took the second place as the sector’s last week turnover was K.D 40.35 million represented 22.32 percent of the total market trading value, the report concluded.

Source : KUNA Kuwait News agency

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