30 November 2011
KUWAIT: Kuwait Stock Exchange (KSE) closed in green zone after His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah accepted the resignation of HH Prime Minister Sheikh Nasser Al-Mohammad Al-Ahmad Al-Jaber Al-Sabah, tasking the premier and the ministers to continue in the service on care-taking basis till formation of a new government.
Global General Index (GGI) ended the day up by 0.55 percent, at 180.72 point. Market capitalization was up for the day, reaching KD29.58bn. On the other hand, KSE Price Index closed at 5,800.3 point, adding 17.6 points (0.3 percent) to its previous close.
Market breadth
During the session, 94 companies were traded. Market breadth was skewed towards advancers as 46 equities advanced versus 21 that declined. Trading activity was down yesterday. Total volume traded was down by 18.07 percent with 120.41mn shares changing hands at a total value of KD9.95mn (37.71 percent lower compared to Monday session). Investment sector was the volume leader. The sector accounted for 47.99 percent of total shares exchanges.
Al-Ahlia Holding Company was the session's most traded stock with 23.68mn shares exchanged. The services sector was the value leader, having 34.19 percent of total traded value. In terms of top gainers, Arkan Al-Kuwait Real Estate Company was the top gainer for the day, adding 15.87 percent to its share value and closing at KD0.073. On the other hand, Warba Insurance Company shed 6.94 percent and closed at KWD0.134 making it the biggest decliner in the market.
Sectors
During the session, six out of eight indices ended the day on a positive note. Global Banking Index topped the gainers' list among other sectors, adding 0.91 percent to its value. Heavyweights, Kuwait Finance House rose by 2.25 percent, to close at KD0.910 and National Bank of Kuwait went up by 1.79 percent to close at KD1.140.
Industrial sector followed adding 0.44 percent. Among the sector's components, National Industries Group (Holding) gained 1.89 percent, to close at KD0.270 and Salbookh Trading Company rose by 6.25 percent, closing at KD0.051. Metal & Recycling Company was the top gainer in the sector, adding 7.55 percent to its share value, and closing at KD0.114.
Global Services Index recorded an increase of 0.36 percent during the session. In sector's news, Aref Energy Holding Company has received a purchase offer worth $28.35mn for 81 percent of its 64.25 percent equity in Sudan-based Heglig Petroleum Services & Investment Company. Upon concluding the sale, Aref will maintain 19 percent of its equity in the company.
The bid is currently under study, and Aref will duly inform KSE management of any developments after finalizing the study. The scrip closed up by 3.85 percent at KD0.108. On the other hand, Global Insurance index was the biggest loser among the sectors, shedding 0.58 percent dragged down by a sole drop in Warba Insurance Company. The scrip was the biggest loser during the session, as it declined by 6.94 percent, closing at KD0.134.
Corporate news
National Cleaning Company (NCC) renewed contracts to provide cleaning services with Kuwait Municipality. The contracts, which terminated on November 24, 2011, will be extended for one more year. NCC's percentage of these agreements is as follows: 100 percent of NCC's agreements worth KD2.62mn. 100 percent of affiliates' agreements worth 7.57mn. 90 percent of affiliates' agreements worth 4.42mn. 67.5 percent of affiliates' agreements worth 2.86mn.
Oil news
The price of OPEC basket of twelve crudes stood at $108.75pb a barrel on Monday, compared with $107.73pb the previous Friday, according to OPEC Secretariat calculations.
KUWAIT: Kuwait Stock Exchange (KSE) closed in green zone after His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah accepted the resignation of HH Prime Minister Sheikh Nasser Al-Mohammad Al-Ahmad Al-Jaber Al-Sabah, tasking the premier and the ministers to continue in the service on care-taking basis till formation of a new government.
Global General Index (GGI) ended the day up by 0.55 percent, at 180.72 point. Market capitalization was up for the day, reaching KD29.58bn. On the other hand, KSE Price Index closed at 5,800.3 point, adding 17.6 points (0.3 percent) to its previous close.
Market breadth
During the session, 94 companies were traded. Market breadth was skewed towards advancers as 46 equities advanced versus 21 that declined. Trading activity was down yesterday. Total volume traded was down by 18.07 percent with 120.41mn shares changing hands at a total value of KD9.95mn (37.71 percent lower compared to Monday session). Investment sector was the volume leader. The sector accounted for 47.99 percent of total shares exchanges.
Al-Ahlia Holding Company was the session's most traded stock with 23.68mn shares exchanged. The services sector was the value leader, having 34.19 percent of total traded value. In terms of top gainers, Arkan Al-Kuwait Real Estate Company was the top gainer for the day, adding 15.87 percent to its share value and closing at KD0.073. On the other hand, Warba Insurance Company shed 6.94 percent and closed at KWD0.134 making it the biggest decliner in the market.
Sectors
During the session, six out of eight indices ended the day on a positive note. Global Banking Index topped the gainers' list among other sectors, adding 0.91 percent to its value. Heavyweights, Kuwait Finance House rose by 2.25 percent, to close at KD0.910 and National Bank of Kuwait went up by 1.79 percent to close at KD1.140.
Industrial sector followed adding 0.44 percent. Among the sector's components, National Industries Group (Holding) gained 1.89 percent, to close at KD0.270 and Salbookh Trading Company rose by 6.25 percent, closing at KD0.051. Metal & Recycling Company was the top gainer in the sector, adding 7.55 percent to its share value, and closing at KD0.114.
Global Services Index recorded an increase of 0.36 percent during the session. In sector's news, Aref Energy Holding Company has received a purchase offer worth $28.35mn for 81 percent of its 64.25 percent equity in Sudan-based Heglig Petroleum Services & Investment Company. Upon concluding the sale, Aref will maintain 19 percent of its equity in the company.
The bid is currently under study, and Aref will duly inform KSE management of any developments after finalizing the study. The scrip closed up by 3.85 percent at KD0.108. On the other hand, Global Insurance index was the biggest loser among the sectors, shedding 0.58 percent dragged down by a sole drop in Warba Insurance Company. The scrip was the biggest loser during the session, as it declined by 6.94 percent, closing at KD0.134.
Corporate news
National Cleaning Company (NCC) renewed contracts to provide cleaning services with Kuwait Municipality. The contracts, which terminated on November 24, 2011, will be extended for one more year. NCC's percentage of these agreements is as follows: 100 percent of NCC's agreements worth KD2.62mn. 100 percent of affiliates' agreements worth 7.57mn. 90 percent of affiliates' agreements worth 4.42mn. 67.5 percent of affiliates' agreements worth 2.86mn.
Oil news
The price of OPEC basket of twelve crudes stood at $108.75pb a barrel on Monday, compared with $107.73pb the previous Friday, according to OPEC Secretariat calculations.
© Kuwait Times 2011
