15 April 2009
KUWAIT: Global General Index (GGI) ended the day by shedding 4.39 points, which translates into a 2.25 percent decline during the session yesterday to reach 190.82 points. The KSE Price Index posted a slight gain yesterday of 6.80 points (+0.09 percent) to close at 7,349.20 points.
Market capitalization was down yesterday by KD327.15mn to reach KD30.95bn. During the session, market breadth was skewed towards decliners as 59 equities retreated versus 38 that advanced, while 107 stocks were unchanged.
Volume and value of shares traded on the exchange ended the session on a negative note, as investors exchanged 650.13mn shares (-23.56 percent), at a total traded value of KD118.47mn (-28.26 percent). The Investment Sector was the volume leader for the day, accounting for 33.38 percent (217.01mn shares) of total volume backed by Ekttitab Holding Company and International Financial Advisors, which witnessed the high trading activity within the sector.
Ekttitab had 49.80mn shares exchanged and IFA had 25.24mn shares exchanged. The Banking Sector was the value leader for the day with a total traded value of KD40.21mn or 33.94 percent of the total market value backed by three banks making it to the top by value list. Boubyan Bank and National Bank of Kuwait were the leaders with total traded value of KD9.67mn and KD8.60mn, respectively.
In terms of advancers, International Investment Group was the top gainer yesterday. The scrip ended the day up 13.04 percent to end at 52fils. On the other side, Burgan Group Holding Company was the biggest decliner for the day, shedding 8.55 percent to end the day at 214fils.
Sector-wise, five out of eight Global indices ended the day with a negative performance, with Global Banking Index being the largest decliner, down 6.28 percent. The decline was backed by Gulf Bank which resumed trading yesterday on a free float basis up until the first transaction in which it ended at 475fils, the base price, and the daily fluctuation limits will be applied to that price. Furthermore, seven out of nine banks ended the day down except for Kuwait International Bank and Burgan Bank which were the only gainers, up 6.85 percent and 4.60 percent, respectively.
Global Industrial Index was the second biggest decliner yesterday, shedding 1.00 percent to its value after National Industries Group Holding posted a 3.23 percent drop to end at 300fils, erasing the gains recorded in the previous trading session. Metal & Recycling Company gained the for the second consecutive session today to end at 194fils (+4.30 percent).
Global Insurance index was the biggest gainer, up 1.58 percent. The index was backed by Warba Insurance Company, which posted a 8.93 percent gain to end the day at 305fils. Today was the company's ex-dividend date and it distributed 5 percent cash dividends and 5 percent bonus shares.
Regarding Global Special Indices, three out of the four ended in the red yesterday with Global High Yield Index being the only gainer, up 0.25 percent backed by Gulf Insurance Company and Gulf Finance House which were up 3.37 percent and 1.72 percent, respectively. On the other side, Global Large Cap (Top 10) Index was the top decliner, down 4.87 percent with eight out the ten companies in the index reported losses yesterday.
The Kuwait Stock Exchange (KSE) announced that the merger between International Investment Projects and Al-Deera Holding will be effective as of Tuesday April 14, 2009. Accordingly, the following procedures will be taken:
Dissolution of International Investment Projects and transferring all rights and liabilities to Al-Deera Holding as of April 15, 2009.
Issuing 219,456,480 shares of AL Deera shares to International Investment Projects shareholders, as of April 14, 2009, at a share swap ratio of 272,965 for 1.
International Investment Projects shareholders who were allotted Deera shares will have the right to trade these shares as of April 15, 2009.
The price of OPEC basket of twelve crudes stood at $51.92 a barrel on Monday April 13, 2009, compared with $52.26 recorded the last Thursday, according to OPEC Secretariat calculations.
KUWAIT: Global General Index (GGI) ended the day by shedding 4.39 points, which translates into a 2.25 percent decline during the session yesterday to reach 190.82 points. The KSE Price Index posted a slight gain yesterday of 6.80 points (+0.09 percent) to close at 7,349.20 points.
Market capitalization was down yesterday by KD327.15mn to reach KD30.95bn. During the session, market breadth was skewed towards decliners as 59 equities retreated versus 38 that advanced, while 107 stocks were unchanged.
Volume and value of shares traded on the exchange ended the session on a negative note, as investors exchanged 650.13mn shares (-23.56 percent), at a total traded value of KD118.47mn (-28.26 percent). The Investment Sector was the volume leader for the day, accounting for 33.38 percent (217.01mn shares) of total volume backed by Ekttitab Holding Company and International Financial Advisors, which witnessed the high trading activity within the sector.
Ekttitab had 49.80mn shares exchanged and IFA had 25.24mn shares exchanged. The Banking Sector was the value leader for the day with a total traded value of KD40.21mn or 33.94 percent of the total market value backed by three banks making it to the top by value list. Boubyan Bank and National Bank of Kuwait were the leaders with total traded value of KD9.67mn and KD8.60mn, respectively.
In terms of advancers, International Investment Group was the top gainer yesterday. The scrip ended the day up 13.04 percent to end at 52fils. On the other side, Burgan Group Holding Company was the biggest decliner for the day, shedding 8.55 percent to end the day at 214fils.
Sector-wise, five out of eight Global indices ended the day with a negative performance, with Global Banking Index being the largest decliner, down 6.28 percent. The decline was backed by Gulf Bank which resumed trading yesterday on a free float basis up until the first transaction in which it ended at 475fils, the base price, and the daily fluctuation limits will be applied to that price. Furthermore, seven out of nine banks ended the day down except for Kuwait International Bank and Burgan Bank which were the only gainers, up 6.85 percent and 4.60 percent, respectively.
Global Industrial Index was the second biggest decliner yesterday, shedding 1.00 percent to its value after National Industries Group Holding posted a 3.23 percent drop to end at 300fils, erasing the gains recorded in the previous trading session. Metal & Recycling Company gained the for the second consecutive session today to end at 194fils (+4.30 percent).
Global Insurance index was the biggest gainer, up 1.58 percent. The index was backed by Warba Insurance Company, which posted a 8.93 percent gain to end the day at 305fils. Today was the company's ex-dividend date and it distributed 5 percent cash dividends and 5 percent bonus shares.
Regarding Global Special Indices, three out of the four ended in the red yesterday with Global High Yield Index being the only gainer, up 0.25 percent backed by Gulf Insurance Company and Gulf Finance House which were up 3.37 percent and 1.72 percent, respectively. On the other side, Global Large Cap (Top 10) Index was the top decliner, down 4.87 percent with eight out the ten companies in the index reported losses yesterday.
The Kuwait Stock Exchange (KSE) announced that the merger between International Investment Projects and Al-Deera Holding will be effective as of Tuesday April 14, 2009. Accordingly, the following procedures will be taken:
Dissolution of International Investment Projects and transferring all rights and liabilities to Al-Deera Holding as of April 15, 2009.
Issuing 219,456,480 shares of AL Deera shares to International Investment Projects shareholders, as of April 14, 2009, at a share swap ratio of 272,965 for 1.
International Investment Projects shareholders who were allotted Deera shares will have the right to trade these shares as of April 15, 2009.
The price of OPEC basket of twelve crudes stood at $51.92 a barrel on Monday April 13, 2009, compared with $52.26 recorded the last Thursday, according to OPEC Secretariat calculations.
© Kuwait Times 2009
