16 December 2006
KUWAIT: Kuwait Stock Exchange (KSE) closed the trading yesterday in positive territory as blue-chip stocks rose, leading all prominent indices to increase.
Reflecting the trend, Global General Index was up by 3.09 points or 1.12 per cent to close at 279.9 points. The index registered an increase of 1.09 per cent this week. On the other hand, the market benchmark KSE Price Index rose by 85.3 points (or 0.89 per cent), to close at 9,673.9 points. Market capitalisation advanced by 1.12 per cent yesterday to reach KD40.29bn.
Advancers outnumbered losers yesterday as the market witnessed 70 gainers against 29 decliners. Trading remained lacklustre as volume of shares traded declined by 25.91 per cent to reach 131.56mn of traded shares. Real estate sector accounted for the highest percent of the total traded volume, accounting for 35.4 per cent, followed by the investment sector, which accounted for 35.09 per cent of total traded shares. Arkan Al-Kuwait Real Estate Company recorded the highest volume traded with 23.14mn shares exchanging hands. The scrip registered an increase of 5.62 per cent to close at 188fils. On the other hand, heavyweight Investment Dar witnessed the highest traded value at KD5.13 million. The scrip registered an increase of 9.26 per cent to close at KD1.18.
Al Madina for Finance & Investment Company led the gainers list for yesterday, registering an increase of 9.62 per cent to close at 285fils. On the other hand, Pearl of Kuwait Real Estate Company was the major loser, registering a decline of 6.76 per cent to close at 138fils. Global Investment Index led the sector indices as it increased by 1.85 per cent on the back of the substantial gains registered in some of the stocks. Kuwait Investment Company rose by 2.04 per cent to close at 500fils, Coast Investment & Development Company witnessed an increase of 2.33 per cent and Securities Group gained 2.48 per cent.
Global Services Index rose by 1.35 per cent mainly on the back of the 4 percent increase registered in Agility, 1.28 per cent increase in Mobile Telecommunication Company and 0.59 per cent gain in Hajj and Umrah Services Consortium.
The latter continued to record new levels, as the scrip closed at KD1.76. In corporate news, United Projects for Aviation Services Company announced that it has signed a memorandum of understanding with a Bahraini company to establish, develop, invest in, and manage the market area of the Bahrain International Airport and parking lots in Bahrain. The scrip registered an increase of 2.74 per cent to close at 375fils. Global Islamic Index registered an increase of 2.22 per cent on the back of the gains registered in Kuwait Finance House, which increased by 0.96 per cent to close at KD2.1, and Gulf Petroleum Investment, which rose by 2.9 per cent to close at 710fils.
The Central Bank of Kuwait decided to keep its interest rate unchanged at 6.25 per cent a day after the US Fed announced to keep the US interest rate unchanged. This step followed the US Federal Reserve's decision to keep the US interest rate at current level of 5.25 per cent.
The committee of the bourse is due to hold a crucial meeting, shortly later, to examine a number of companies to be listed, in addition to other significant issues, such as the "suspension" of some stocks and companies' disclosure of assets.
The General Assembly of Nibras Holding Company met yesterday and approved the distribution of 12 per cent cash dividends and the capital increase of 66.6 per cent at a nominal value of 100fils per share in addition to a bonus issue of 100fils per share. Educational Holding Group's general assembly will discuss on December 25, 2006 the board of directors' proposal to distribute a 20 per cent cash dividend of nominal shares.
KUWAIT: Kuwait Stock Exchange (KSE) closed the trading yesterday in positive territory as blue-chip stocks rose, leading all prominent indices to increase.
Reflecting the trend, Global General Index was up by 3.09 points or 1.12 per cent to close at 279.9 points. The index registered an increase of 1.09 per cent this week. On the other hand, the market benchmark KSE Price Index rose by 85.3 points (or 0.89 per cent), to close at 9,673.9 points. Market capitalisation advanced by 1.12 per cent yesterday to reach KD40.29bn.
Advancers outnumbered losers yesterday as the market witnessed 70 gainers against 29 decliners. Trading remained lacklustre as volume of shares traded declined by 25.91 per cent to reach 131.56mn of traded shares. Real estate sector accounted for the highest percent of the total traded volume, accounting for 35.4 per cent, followed by the investment sector, which accounted for 35.09 per cent of total traded shares. Arkan Al-Kuwait Real Estate Company recorded the highest volume traded with 23.14mn shares exchanging hands. The scrip registered an increase of 5.62 per cent to close at 188fils. On the other hand, heavyweight Investment Dar witnessed the highest traded value at KD5.13 million. The scrip registered an increase of 9.26 per cent to close at KD1.18.
Al Madina for Finance & Investment Company led the gainers list for yesterday, registering an increase of 9.62 per cent to close at 285fils. On the other hand, Pearl of Kuwait Real Estate Company was the major loser, registering a decline of 6.76 per cent to close at 138fils. Global Investment Index led the sector indices as it increased by 1.85 per cent on the back of the substantial gains registered in some of the stocks. Kuwait Investment Company rose by 2.04 per cent to close at 500fils, Coast Investment & Development Company witnessed an increase of 2.33 per cent and Securities Group gained 2.48 per cent.
Global Services Index rose by 1.35 per cent mainly on the back of the 4 percent increase registered in Agility, 1.28 per cent increase in Mobile Telecommunication Company and 0.59 per cent gain in Hajj and Umrah Services Consortium.
The latter continued to record new levels, as the scrip closed at KD1.76. In corporate news, United Projects for Aviation Services Company announced that it has signed a memorandum of understanding with a Bahraini company to establish, develop, invest in, and manage the market area of the Bahrain International Airport and parking lots in Bahrain. The scrip registered an increase of 2.74 per cent to close at 375fils. Global Islamic Index registered an increase of 2.22 per cent on the back of the gains registered in Kuwait Finance House, which increased by 0.96 per cent to close at KD2.1, and Gulf Petroleum Investment, which rose by 2.9 per cent to close at 710fils.
The Central Bank of Kuwait decided to keep its interest rate unchanged at 6.25 per cent a day after the US Fed announced to keep the US interest rate unchanged. This step followed the US Federal Reserve's decision to keep the US interest rate at current level of 5.25 per cent.
The committee of the bourse is due to hold a crucial meeting, shortly later, to examine a number of companies to be listed, in addition to other significant issues, such as the "suspension" of some stocks and companies' disclosure of assets.
The General Assembly of Nibras Holding Company met yesterday and approved the distribution of 12 per cent cash dividends and the capital increase of 66.6 per cent at a nominal value of 100fils per share in addition to a bonus issue of 100fils per share. Educational Holding Group's general assembly will discuss on December 25, 2006 the board of directors' proposal to distribute a 20 per cent cash dividend of nominal shares.
© Kuwait Times 2006
