NBK closes 10 pts higher; Medical Services ends up 46.15 pct
KUWAIT CITY: Kuwait stocks inched 0.02 per cent higher halting a three-day decline this week. The index stood at 5721.72 points tugging 1.35 points higher to the green, logging little change while hovering close to Tuesday's six-month low.
The KSE 15 benchmark eased 0.27 points down to 956.91 points. The number of transactions conducted during the sessions totaled 1922, trading volumes slump to 89.5 million shares, compared to a daily average of 253 million.
National Bank of Kuwait scaled 10 points higher to finish at KD 1.000 and traded a volume of 336,398 for a value of KD 335,683. The lender has received regulatory approval to purchase an 11 percent stake in Boubyan Bank. NBK announced on Tuesday that it had agreed to pay KD 121.65 million ($431.2 million) for an 11.05 percent stake in Boubyan Bank, a purchase which takes its ownership to 58.34 percent.
Kuwait Medical Services Co led the pack of gainers in terms with a 46.15 per cent hike to 95 fils, trading 3,549 shares, Boubyan International Industries Holding Co moved up 8 per cent higher to 54 fils and traded 70 shares. Real Estate Trade Centers Co, Kuwait United Poultry Co and Securities Group Co followed with a 7.69 per cent rise.
Warba Insurance Co tumbled down 7.94 per cent to 116 fils as did Metal & Recycling Co and Al Nawadi Holding Co finished at 98 fils after a 7.55 per cent downturn. Flex Resorts and Real Estate Co slid 6.17 per cent lower to close at 76 fils.
Gulf Glass Manufacturing Co, Burgan Co for Well drilling, Trading and Maintenance, Tamdeen Real Estate Co, Transport and Warehousing Group, Boubyan International Industries Holding Co were the least active in terms of volume.
On the other hand, Abyaar Real Estate Development Co traded 13.4 million shares to close at 40 fils, 3.9 per cent higher than the previous session, International Financial Advisers exchanged 7.78 million shares at a flat 40 fils, Al Madina For Finance And Investment Co moved a load of 6.88 million shares to close 2.13 per cent higher at 48 fils. Ithmaar Bank traded 6.42 million shares at 35.5 fils, up 1.43 per cent.
100 counters remained active today. Of these, 37 advanced while 29 declined and 34 closed flat.
The banking sector, overall, finished 0.17 per cent higher at 952.5 points with a 57.02 per cent increase in volume from the day before whil dropping 35.71 per cent in value from the previous session. Gulf Bank stepped 5 points to close at 400 fils after trading 135.005 shares for a value of 53,627. Kuwait International Bank steady at 255, traded a load of 60,000 while Burgan Bank dropped 5 points lower to close at 470 fils on trading 522,866 shares for KD 245,747. Boubyan Bank held its ground at 600 fils and traded 29,884 shares for KD 18,070.
Telecommunications eased 2.64 per cent lower to close at 840.5 fils, with a 430.08 per cent swell in volume and a 104.79 per cent rise in value from the last session. Mobile Telecommunications Co (Zain) opened at 690 fils but slipped 10 points under to close at 680 fils, trading a volume of 1.88 million for a value of KD 1.3 million. Hits Telecom Holding shed 5 points to close at 61 fils.
Financial Services closed ay 834.4 points with a 0.36 per cent increase. The sector's volume dropped 19.89 per cent from the previous day and made up 39.99 per cent o the market today albeit with a 7.62 per cent rise in value. International Financial Advisors closed at an unchanged 40 fils trading 7.78 million for KD 312,729. National Investments Co closed at 102 fils, recording no change and transacting 201788 shares for KD 20,882. Kuwait Projects Co traded 1.3 million shares for a value of KD 470,646. Al Aman Investment Co eased 1 point lower to close at 50 fils and traded 635,387 shares for KD 31,829. Al Deera Holding Co closed flat at 34 fils and Al-Salam group holding co traced 4 points higher to 246 fils, trading 1.74 million for KD 428,548. Al-Madina For Finance and Investment Co inched 1 point higher to end at 48 fils trading 6.8 million shares for KD 327,921. Al Imtiaz Investment Group dropped 1 point to close at 80 fils, trading 1.3 million shares, Manazel Holding closed at a flat 25 fils while National Industries Group finished with a 2 point upswing to 188 fils and traded 1.13 million of its shares. Gulf Finance House at an unchanged 36 fils moved 3.8 million in volume and also Inovest closed flat at 37.5 trading 3.36 million shares.
Real Estate contracted by 0.04 per cent to finish at 885.2 points, with a 78.29 per cent surge in volume and 9.36 per cent rise in terms of value. Kuwait Real Estate Co traded 1.08 million shares today and closed 0.5 points higher at 47.5 fils. Mabanee Co tanked 20 points lower to KD 1.160 fils trading 93,400 shares. Investors Holding Group Co remained steady at 17.5 fils as did Injazzat Real Estate Development Co at 51 fils. Kuwait Remal Real Estate Co closed at 400 fils with a 10 points leap, trading 2.86 million shares for KD 1.13 million.
Meanwhile, Automated Systems Company trailed down to a 450 fils close, losing 25 points in the day while trading 4150 shares for KD 1890. Kuwait Food Company (Americana) pulled 40 points higher to close at KD 1.280 fils. Oula Fuel Marketing Co climbed 10 points higher to close at 290 fils, trading 9387 shares in the session while Jazeera Airways Co inched 15 points lower to 395 fils and traded 36,557 for KD 14,517.
Kuwait and Gulf Link Transport announced its results for the First Half ended on 30 June, 2012 with a net loss of KD 3,846,255 and the loss per share equaling 14.55 fils while the net loss for the same period last year had been KD 8,532,680 and the loss per share stood at 32.28 fils.
© Arab Times 2012
