23 January 2007
KUWAIT: KSE ended the day in red as Global General Index witnessed a drop of 0.63 per cent or 1.82 points yesterday and closed at 285.92 points. Moreover, KSE Price Index decreased by 0.53 per cent or 51.9 points yesterday to close at 9,724.4 points.
All eight sectors registered losses today, with the banking sector in the lead. Global Banking Index lost 0.97 per cent mainly on the back of the losses registered in National Bank of Kuwait (-1.83 per cent) and Gulf Bank (-1.14 per cent). The investment sector was also a major loser, with Global Investment Index dropping by 0.91 per cent today. Out of the losers, Tamdeen Investment Company lost 5.45 per cent to close at 260fils, while Bayan Investment Company lost 5.26 per cent and closed at 270fils. Global Industrial Index lost 0.68 per cent today, with Metal & Recycling Company registering the highest loss of 5.26 per cent in this sector, followed by Contracting & Marine Services Company with a loss of 3.95 per cent. Villa Moda Lifestyle initiated trading today under the services sector. The scrip opened at 224fils and closed at 214fils, registering a decline of 4.46 per cent in its first session.
Market capitalisation decreased by 0.6 per cent yesterday to reach KD 41.35bn.
Market breadth was tilted towards decliners, with 57 decliners against 22 advancers, while 102 stocks remained unchanged.
Volume of shares traded increased by 13.92 per cent today to reach 87.43mn shares traded at a value of KD 39.61mn. Real estate sector accounted for 38.39 per cent of the total traded volume today, followed by the investment sector registering 34.78 per cent of the total volume traded.
The Commercial Real Estate Company was the volume and value leader today with 15.43mn shares exchanging hands at a value of KD 4.55mn.
Mushrif Trading & Contracting Company was the prominent gainer, registering an increase of 6.25 per cent to close at 510fils, while Sultan Centre Food Products Company was the major loser, registering a decline of 5.56 per cent, to close at 510fils.
Global Small Cap Index was the only gainer today, registering an increase of 0.79 per cent.
Gulf Glass Manufacturing Company announced that it has signed a KD 3.26mn contract with United Refreshments Company to supply glass bottles for the year 2007.
The Finance Minister Mr. Bader Al Humeidi announced that deficit of the 2007-2008 state budget is projected at KD 2.13bn, as total expenditures will reach KD 10.45bn, while net earnings will reach KD 8.32bn. Global Investment House announced that its GCC Real Estate fund has made a significant strategic investment with the conclusion of two new real estate acquisitions in Kuwait. The fund will invest the two acquisitions according to the "Lessee-to-own" structure for a third party and for a period of 3 years. This will be in accordance with the Islamic Shari'a principles.
KUWAIT: KSE ended the day in red as Global General Index witnessed a drop of 0.63 per cent or 1.82 points yesterday and closed at 285.92 points. Moreover, KSE Price Index decreased by 0.53 per cent or 51.9 points yesterday to close at 9,724.4 points.
All eight sectors registered losses today, with the banking sector in the lead. Global Banking Index lost 0.97 per cent mainly on the back of the losses registered in National Bank of Kuwait (-1.83 per cent) and Gulf Bank (-1.14 per cent). The investment sector was also a major loser, with Global Investment Index dropping by 0.91 per cent today. Out of the losers, Tamdeen Investment Company lost 5.45 per cent to close at 260fils, while Bayan Investment Company lost 5.26 per cent and closed at 270fils. Global Industrial Index lost 0.68 per cent today, with Metal & Recycling Company registering the highest loss of 5.26 per cent in this sector, followed by Contracting & Marine Services Company with a loss of 3.95 per cent. Villa Moda Lifestyle initiated trading today under the services sector. The scrip opened at 224fils and closed at 214fils, registering a decline of 4.46 per cent in its first session.
Market capitalisation decreased by 0.6 per cent yesterday to reach KD 41.35bn.
Market breadth was tilted towards decliners, with 57 decliners against 22 advancers, while 102 stocks remained unchanged.
Volume of shares traded increased by 13.92 per cent today to reach 87.43mn shares traded at a value of KD 39.61mn. Real estate sector accounted for 38.39 per cent of the total traded volume today, followed by the investment sector registering 34.78 per cent of the total volume traded.
The Commercial Real Estate Company was the volume and value leader today with 15.43mn shares exchanging hands at a value of KD 4.55mn.
Mushrif Trading & Contracting Company was the prominent gainer, registering an increase of 6.25 per cent to close at 510fils, while Sultan Centre Food Products Company was the major loser, registering a decline of 5.56 per cent, to close at 510fils.
Global Small Cap Index was the only gainer today, registering an increase of 0.79 per cent.
Gulf Glass Manufacturing Company announced that it has signed a KD 3.26mn contract with United Refreshments Company to supply glass bottles for the year 2007.
The Finance Minister Mr. Bader Al Humeidi announced that deficit of the 2007-2008 state budget is projected at KD 2.13bn, as total expenditures will reach KD 10.45bn, while net earnings will reach KD 8.32bn. Global Investment House announced that its GCC Real Estate fund has made a significant strategic investment with the conclusion of two new real estate acquisitions in Kuwait. The fund will invest the two acquisitions according to the "Lessee-to-own" structure for a third party and for a period of 3 years. This will be in accordance with the Islamic Shari'a principles.
© Kuwait Times 2007
