17 October 2011
KUWAIT: Kuwait's stocks ended yesterday's session on a higher note, on the back of a smart rally staged by investment stocks late into trading. The advance was broad-based with five out of eight sectors managing healthy gains. Investor sentiments were cheered up by talks regarding healthy 9M2011 corporate earnings results.
Market indices
Global General Index (GGI) ended the day up by 0.43 percent, at 182.70 point. Market Capitalization was also up for the day, reaching KD 29.86 billion. On the other hand, KSE Price Index closed at 5,898.6 point, adding 31.1 points (0.53 percent) to its previous close.
Market breadth
During the session, 110 companies were traded. Market breadth was skewed towards advancers as 45 equities advanced versus 21 that declined.
Daily trading activity
Total volume traded was up by 1.45 percent with 195.03 million shares changing hands at a total value of KD 34.61 million (5.80 percent lower compared to Thursday's session). Services sector was the volume leader, accounting for 28.46 percent of total shares exchanges. National Industries Company was the session's most traded stock with 16.80 million shares exchanged. The banking sector was the value leader, having 24.55 percent of total traded value.
Top gainers and biggest decliners
In terms of top gainers, National Industries Company was the top gainer for the day, adding 14.81 percent to its share value and closing at KD 0.310. On the other hand, Independent Petroleum Group shed 5.26 percent and closed at KD 0.360, making it the biggest decliner in the market.
Sectors wise
On the sectors front, Global Investment Index was the prominent gainer with an increase of 2.06 percent as On the sectors front, Global Investment Index was the prominent gainer with an increase of 2.06 percent as many stocks in this sector witnessed gains, such as Kuwait Projects Company (Holding) and KIPCO Asset Management (KAMCO) who added the most, ending the day up by 7.94 percent and 7.84 percent, respectively.
First Investment Company reported net losses of KD 3.86 million for the 6-months ended June 30, 2011, over the KD 3.08 million loss posted during the comparable period in 2010. However, Investors did not pay attention to the losses. The scrip closed up by 5.32 percent , compared to its previous close on August 14, at KD 0.099.
Global Industrial Index was the second biggest gainer, registering an increase of 1.20 percent. National Industries Group (Holding) continued to register gains for the second session in a row. The scrip closed up by 1.92 percent at KD 265. National Industries Company was the top gainer for the day, adding 14.81 percent to its share value and closing at KD 0.310.
On another hand, the gains registered in 3 banks within the banking sector contributed to the increase of Global Banking Index, which rose by 0.70 percent. Commercial Bank of Kuwait, Burgan Bank and National Bank of Kuwait (NBK) closed up by 2.44 percent, 2.15 percent and 1.85 percent, respectively. Global Services Index was the major loser for the day, as it lost 0.54 percent from its value.
Corporate news
Combined Group Contracting Company (CGC) has submitted the lowest bid for tender No KS/T/262, issued by Ministry of Public Works (MOPW). Under the KD 3 million worth of deal, the company will carry out general maintenance for highways in Kuwait over two years.
Oil news
The price of OPEC basket of twelve crudes stood at $107.04pb on Thursday, compared with $107.68pb the previous day, according to OPEC Secretariat calculations.
KUWAIT: Kuwait's stocks ended yesterday's session on a higher note, on the back of a smart rally staged by investment stocks late into trading. The advance was broad-based with five out of eight sectors managing healthy gains. Investor sentiments were cheered up by talks regarding healthy 9M2011 corporate earnings results.
Market indices
Global General Index (GGI) ended the day up by 0.43 percent, at 182.70 point. Market Capitalization was also up for the day, reaching KD 29.86 billion. On the other hand, KSE Price Index closed at 5,898.6 point, adding 31.1 points (0.53 percent) to its previous close.
Market breadth
During the session, 110 companies were traded. Market breadth was skewed towards advancers as 45 equities advanced versus 21 that declined.
Daily trading activity
Total volume traded was up by 1.45 percent with 195.03 million shares changing hands at a total value of KD 34.61 million (5.80 percent lower compared to Thursday's session). Services sector was the volume leader, accounting for 28.46 percent of total shares exchanges. National Industries Company was the session's most traded stock with 16.80 million shares exchanged. The banking sector was the value leader, having 24.55 percent of total traded value.
Top gainers and biggest decliners
In terms of top gainers, National Industries Company was the top gainer for the day, adding 14.81 percent to its share value and closing at KD 0.310. On the other hand, Independent Petroleum Group shed 5.26 percent and closed at KD 0.360, making it the biggest decliner in the market.
Sectors wise
On the sectors front, Global Investment Index was the prominent gainer with an increase of 2.06 percent as On the sectors front, Global Investment Index was the prominent gainer with an increase of 2.06 percent as many stocks in this sector witnessed gains, such as Kuwait Projects Company (Holding) and KIPCO Asset Management (KAMCO) who added the most, ending the day up by 7.94 percent and 7.84 percent, respectively.
First Investment Company reported net losses of KD 3.86 million for the 6-months ended June 30, 2011, over the KD 3.08 million loss posted during the comparable period in 2010. However, Investors did not pay attention to the losses. The scrip closed up by 5.32 percent , compared to its previous close on August 14, at KD 0.099.
Global Industrial Index was the second biggest gainer, registering an increase of 1.20 percent. National Industries Group (Holding) continued to register gains for the second session in a row. The scrip closed up by 1.92 percent at KD 265. National Industries Company was the top gainer for the day, adding 14.81 percent to its share value and closing at KD 0.310.
On another hand, the gains registered in 3 banks within the banking sector contributed to the increase of Global Banking Index, which rose by 0.70 percent. Commercial Bank of Kuwait, Burgan Bank and National Bank of Kuwait (NBK) closed up by 2.44 percent, 2.15 percent and 1.85 percent, respectively. Global Services Index was the major loser for the day, as it lost 0.54 percent from its value.
Corporate news
Combined Group Contracting Company (CGC) has submitted the lowest bid for tender No KS/T/262, issued by Ministry of Public Works (MOPW). Under the KD 3 million worth of deal, the company will carry out general maintenance for highways in Kuwait over two years.
Oil news
The price of OPEC basket of twelve crudes stood at $107.04pb on Thursday, compared with $107.68pb the previous day, according to OPEC Secretariat calculations.
© Kuwait Times 2011
