11 June 2009
KUWAIT: Although KSE witnessed volatile trading yesterday, it managed to end its trading session in green. The market was boosted by high oil prices reported yesterday with crude oil breaking $70 barriers for the first time in seven months.
Global General Index (GGI) rose by 1.41 percent to reach 222.87 points. On the other side, the KSE Price Index added 64.10 points (0.80 percent) to close at 8,292.30 points. Market capitalization rose by KD501.59mn yesterday to reach KD36.15bn.
During the session, market breadth was skewed towards advancers as 90 equities advanced versus 25 that retreated, while 88 stocks were unchanged. Volume and value of shares traded on the exchange increased yesterday, as investors exchanged 875.07mn shares (+27.56 percent), at a total value of KD185.51mn (+6.06 percent).
The Services Sector was the volume and value leader for the third consecutive day, accounting for 29.84 percent (261.14mn shares) of total volume at a total value of KD62.67mn, accounting for 33.78 percent of the total value traded. Al-Safwa Holding Group witnessed heavy trading volume leading the volume leaders list for the second consecutive day, with 81.32mn shares changing hands, while Mobile Telecommunication Company (Zain), aided the sector with a total traded value of KD23.22mn, to be the value leader for the day. It's worth mentioning that Zain has teamed-up with Ericsson to be responsible for managing most of network and field operations for its wireless networks and operational support systems, serving almost 4,000 sites across Nigeria. However, the scrip ended today's session unchanged at KD1.140.
Ikarus Petroleum Industries Company was the top gainer for the day, adding 8.20 percent to close at KD0.132. On the other side, Arab Insurance Group was the top loser shedding 12.71 percent, to close at KD0.206.
Sector wise, all Global Indices ended this day on a positive note except Global Insurance Index, which was the only decliner yesterday shedding 0.54 percent, on the back of the heavy weight, Kuwait Insurance Company, which lost 2.70 percent, to close at KD0.360.
Global Banking Sector was the highest gainer adding 2.47 percent to its index driven by National Bank of Kuwait, the largest Kuwaiti bank in terms of market capitalization. The scrip managed to post 4.92 percent gains yesterday to close at KD1.280. Kuwait Finance House increased by 1.49 percent to close at KD1.360. None of the sector's equities were seen down.
Global Real Estate Index followed, adding 1.65 percent. National Real Estate Company gained 6.35 percent being the highest gainer yesterday. The scrip ended the session at KD0.335. Also, Mabanee Company, largest company in the sector in terms of market capitalization added 1.28 percent to close at KD0.790.
Global Food Index advanced, adding 0.99 percent to reach 415.28 points backed by Livestock transport and Trading Company and Danah Al-Safat Foodstuff Company, which surged by 7.46 and 7.04 percent respectively. All Global Special Indices ended the day on a positive note except Global Small Cap Index , which went down by 0.17 percent. Global Large Cap Index, was the top gainer adding 1.72 percent as most of its components were seen up yesterday.
The price of OPEC basket of twelve crudes stood at $68.69 a barrel on Tuesday, compared with $67.02 the previous day, according to OPEC Secretariat calculations. Kuwaiti crude oil was up $1.96 per barrel (pb) on Tuesday to $68.79 pb compared to Monday's $66.83 pb.
Arkan Real Estate Compay - Kuwait - reported a net profit of KD130 thousand for the first half ending on April 30, 2009 registering a decline of 94 percent from the same period in the year 2008. Kuwait Financial Center "Markaz" signed an agreement with SFM Group, a globally recognized leading European provider of investment vehicles based in Luxembourg, whereby "Markaz" will act as the Investment Advisor of WIOF Middle East Performance Fund.
KUWAIT: Although KSE witnessed volatile trading yesterday, it managed to end its trading session in green. The market was boosted by high oil prices reported yesterday with crude oil breaking $70 barriers for the first time in seven months.
Global General Index (GGI) rose by 1.41 percent to reach 222.87 points. On the other side, the KSE Price Index added 64.10 points (0.80 percent) to close at 8,292.30 points. Market capitalization rose by KD501.59mn yesterday to reach KD36.15bn.
During the session, market breadth was skewed towards advancers as 90 equities advanced versus 25 that retreated, while 88 stocks were unchanged. Volume and value of shares traded on the exchange increased yesterday, as investors exchanged 875.07mn shares (+27.56 percent), at a total value of KD185.51mn (+6.06 percent).
The Services Sector was the volume and value leader for the third consecutive day, accounting for 29.84 percent (261.14mn shares) of total volume at a total value of KD62.67mn, accounting for 33.78 percent of the total value traded. Al-Safwa Holding Group witnessed heavy trading volume leading the volume leaders list for the second consecutive day, with 81.32mn shares changing hands, while Mobile Telecommunication Company (Zain), aided the sector with a total traded value of KD23.22mn, to be the value leader for the day. It's worth mentioning that Zain has teamed-up with Ericsson to be responsible for managing most of network and field operations for its wireless networks and operational support systems, serving almost 4,000 sites across Nigeria. However, the scrip ended today's session unchanged at KD1.140.
Ikarus Petroleum Industries Company was the top gainer for the day, adding 8.20 percent to close at KD0.132. On the other side, Arab Insurance Group was the top loser shedding 12.71 percent, to close at KD0.206.
Sector wise, all Global Indices ended this day on a positive note except Global Insurance Index, which was the only decliner yesterday shedding 0.54 percent, on the back of the heavy weight, Kuwait Insurance Company, which lost 2.70 percent, to close at KD0.360.
Global Banking Sector was the highest gainer adding 2.47 percent to its index driven by National Bank of Kuwait, the largest Kuwaiti bank in terms of market capitalization. The scrip managed to post 4.92 percent gains yesterday to close at KD1.280. Kuwait Finance House increased by 1.49 percent to close at KD1.360. None of the sector's equities were seen down.
Global Real Estate Index followed, adding 1.65 percent. National Real Estate Company gained 6.35 percent being the highest gainer yesterday. The scrip ended the session at KD0.335. Also, Mabanee Company, largest company in the sector in terms of market capitalization added 1.28 percent to close at KD0.790.
Global Food Index advanced, adding 0.99 percent to reach 415.28 points backed by Livestock transport and Trading Company and Danah Al-Safat Foodstuff Company, which surged by 7.46 and 7.04 percent respectively. All Global Special Indices ended the day on a positive note except Global Small Cap Index , which went down by 0.17 percent. Global Large Cap Index, was the top gainer adding 1.72 percent as most of its components were seen up yesterday.
The price of OPEC basket of twelve crudes stood at $68.69 a barrel on Tuesday, compared with $67.02 the previous day, according to OPEC Secretariat calculations. Kuwaiti crude oil was up $1.96 per barrel (pb) on Tuesday to $68.79 pb compared to Monday's $66.83 pb.
Arkan Real Estate Compay - Kuwait - reported a net profit of KD130 thousand for the first half ending on April 30, 2009 registering a decline of 94 percent from the same period in the year 2008. Kuwait Financial Center "Markaz" signed an agreement with SFM Group, a globally recognized leading European provider of investment vehicles based in Luxembourg, whereby "Markaz" will act as the Investment Advisor of WIOF Middle East Performance Fund.
© Kuwait Times 2009
