04 October 2011
KUWAIT: Kuwait Stock Exchange (KSE) ended yesterday's trading session in red. The retreat was broad-based with seven out of the eight sectors losing ground. KSE and all GCC stock exchanges following the news that Greece will miss its deficit target for the year.
Market Indices
Global General Index (GGI) ended the day down by 0.64 percent, at 179.52 point. Market Capitalization was also down for the day, reaching KD29.27bn. On the other hand, KSE Price Index closed at 5,811.9 point, shedding 27.30 points (0.47 percent) to its previous close.
Market Breadth
During the session, 99 companies were traded. Market breadth was skewed towards decliners as 45 equities declined versus 14 that advanced.
Daily Trading Activity
The gains were accompanied by mixed trading activities. Total volume traded was up by 2.01 percent with 127.02mn shares changing hands at a total value of KD12.01mn (11.79 percent lower compared to Sunday's session). Services sector was the volume leader, accounting for 30.22 percent of total shares exchanges. Abyaar Real Estate Development Company was the session's most traded stock with 16.48mn shares exchanged. The banking sector was the value leader, having 27.12 percent of total traded value.
Top Gainers and Biggest Decliners
In terms of top gainers, Housing Finance Company (ISKAN) was the top gainer for the day, adding 7.04 percent to its share value and closing at KD0.038. On the other hand, Contracting & Marine Services Company shed 8.70 percent and closed at KD0.210, making it the biggest decliner in the market.
Sectors Wise
With the exception of the food sector, the market moved only south. Global Food Index closed up by 0.35 percent backed by Livestock Transport & Trading Company. The scrip closed up by 4.59 percent. The company announced that it has received the approval from the Cabinet of Ministers to sell its cattle from the Kuwaiti Ports with a 15 percent profit margin.
The Global Industrial Index saw the steepest decline of 0.92 percent, on the back of Kuwait Cement Company's 5.66 percent slide. Stock price of Boubyan International Industries Holding shed 4.04 percent of its value and closed at KD0.095.
Investment stocks were also notable losers, with the sector's index ending down by 0.91 percent. Bayan Investment Company shed 5.36 percent of its value and closed at KD0.0265. Elsewhere in the sector, Commercial Facilities Company & Al Imtiaz Investment Company recoiled by 4.92 percent and 2.56 percent, respectively. The Services Index shed 0.86 percent of its value, on the back of 1.05 percent posted by Zain Company. Share price of Gulf Petroleum Investment Company and Burgan Company for well drilling, t
rading & maintenance was down 6.85 percent and 6.06 percent respectively.
Corporate News
National Cleaning Company announced that its 67.5 percent owned subsidiary has been awarded the lowest price in a three-year, KD328,662 tender offer to maintain the agricultural works of the institutions and facilities that belong to the Municipality of Kuwait.
KUWAIT: Kuwait Stock Exchange (KSE) ended yesterday's trading session in red. The retreat was broad-based with seven out of the eight sectors losing ground. KSE and all GCC stock exchanges following the news that Greece will miss its deficit target for the year.
Market Indices
Global General Index (GGI) ended the day down by 0.64 percent, at 179.52 point. Market Capitalization was also down for the day, reaching KD29.27bn. On the other hand, KSE Price Index closed at 5,811.9 point, shedding 27.30 points (0.47 percent) to its previous close.
Market Breadth
During the session, 99 companies were traded. Market breadth was skewed towards decliners as 45 equities declined versus 14 that advanced.
Daily Trading Activity
The gains were accompanied by mixed trading activities. Total volume traded was up by 2.01 percent with 127.02mn shares changing hands at a total value of KD12.01mn (11.79 percent lower compared to Sunday's session). Services sector was the volume leader, accounting for 30.22 percent of total shares exchanges. Abyaar Real Estate Development Company was the session's most traded stock with 16.48mn shares exchanged. The banking sector was the value leader, having 27.12 percent of total traded value.
Top Gainers and Biggest Decliners
In terms of top gainers, Housing Finance Company (ISKAN) was the top gainer for the day, adding 7.04 percent to its share value and closing at KD0.038. On the other hand, Contracting & Marine Services Company shed 8.70 percent and closed at KD0.210, making it the biggest decliner in the market.
Sectors Wise
With the exception of the food sector, the market moved only south. Global Food Index closed up by 0.35 percent backed by Livestock Transport & Trading Company. The scrip closed up by 4.59 percent. The company announced that it has received the approval from the Cabinet of Ministers to sell its cattle from the Kuwaiti Ports with a 15 percent profit margin.
The Global Industrial Index saw the steepest decline of 0.92 percent, on the back of Kuwait Cement Company's 5.66 percent slide. Stock price of Boubyan International Industries Holding shed 4.04 percent of its value and closed at KD0.095.
Investment stocks were also notable losers, with the sector's index ending down by 0.91 percent. Bayan Investment Company shed 5.36 percent of its value and closed at KD0.0265. Elsewhere in the sector, Commercial Facilities Company & Al Imtiaz Investment Company recoiled by 4.92 percent and 2.56 percent, respectively. The Services Index shed 0.86 percent of its value, on the back of 1.05 percent posted by Zain Company. Share price of Gulf Petroleum Investment Company and Burgan Company for well drilling, t
rading & maintenance was down 6.85 percent and 6.06 percent respectively.
Corporate News
National Cleaning Company announced that its 67.5 percent owned subsidiary has been awarded the lowest price in a three-year, KD328,662 tender offer to maintain the agricultural works of the institutions and facilities that belong to the Municipality of Kuwait.
© Kuwait Times 2011
