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Wed, 10 Feb 2010 | 07:42 GMT
Wed, Feb 10, 2010, 07:42 GMT
 

KSE loses track, ends in red

Kuwait Times
 
 
12 October 2009
KUWAIT: The Kuwait Stock Exchange (KSE) ended yesterday's session in the red, for the second consecutive trading session with losses witnessed in all of the market's sectors.

Global General Index (GGI) shed 2.48 points (-1.11 percent) during yesterday's session to reach 220.72 points. Meanwhile, Kuwait Stock Exchange Price Index also decreased by 67 points (-0.85 percent), to close at 7,781.60 points. Market capitalization was down by KD402.16mn yesterday to reach KD35.85bn.

Market breadth
During the session, 124 companies were traded. Market breadth was skewed towards decliners as 79 equities reported losses, while 10 equities witnessed gains. A total of 114 companies remained unchanged yesterday.

Trading activities ended on a mixed note yesterday. Volume of shares traded on the exchange was down by 15.52 percent to reach 212mn shares. On the other hand, value of shares traded increased by 39.09 percent to stand at KD66.38mn. The Investment Sector was the volume leader accounting for 24.24 percent of total shares traded. The Banking Sector was the value leader, with 40.92 percent of total value. Gulf Finance House was the volume leader, with 30.76mn shares changing hands. National Bank of Kuwait was the value leader, with a total traded value of KD5.17mn.

In terms of top gainers, National Petroleum Services Company was the prominent gainer for the day adding 8.47 percent to close at KD0.320. On the other hand, National Investment Company was the biggest loser for the day, as it dropped by 6.5 6 percent closing at KD0.570.

Sectors wise
All of Global's sector indices ended the day on a negative note, except for Global Insurance Index, which remained unchanged during today's trading session. Global Investment Index was the top decliner today, down 2.60 percent backed by National Investment Company. Further aiding the sector's decline was The Securities House which posted a 6.49 percent drop in its share's price to end the day at KD0.144. Finally, Kuwait Projects Company (Holding), the 11th largest company in the market in terms of market capitalization shed 2 percent to close at KD0.490.

Global Non-Kuwaiti Index was the second biggest decliner for the day shedding 1.51 percent. Aiding the sector was Gulf Finance House, which posted a 6.17 drop to end the day at KD0.152. It is worth to mention that tomorrow will be the company's ex-dividend date, in which they will do a capital increase of 907mn shares at $0.38 per share. The subscription period will be from October 15 to October 29.

All Global Special Indices ended on a negative note, with Global Islamic Index being the top decliner, down 1.28 percent backed by the losses witnessed in all Islamic banks.

OPEC basket price
The price of OPEC basket of twelve crudes stood at $67.83 a barrel on Thursday 8/10/2009, compared with $67.75 recorded the previous day, according to OPEC Secretariat calculations.

Shuaiba Industrial Company clarified local news published on its Q3 profit. The Kuwait-based firm indicated that Q3 financial statements will be released upon completion. Haj & Umrah Services Consortium Company has finalized establishing the 5-star Elaf Al Mashaer Hotel in Makkah, KSA. It rented the property to a specialized hotel management firm for KD2.28mn annually, totaling KD16mn. Revenue from the 7-year lease will be recognized in preliminary financial results for the period ended on December 31, 2009.

© Kuwait Times 2009

 
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