31 October 2011
KUWAIT: Kuwait Stock Exchange (KSE) closed yesterday's session adding margin gains to major indices after banking sector closed unchanged. Gains were broad-based with five out of the eight sectors gaining upward momentum. While increased investor interest in select stocks in investment sector lifted the market higher.
Market indices
Global General Index (GGI) ended the day up by 0.03 percent, at 182.97 point. Market capitalization was up for the day, reaching KD 29.95 billion. On the other hand, KSE Price Index closed at 5,908.5 point, adding 6.40 points (0.11 percent) to its previous close.
Market breadth
During the session, 108 companies were traded. Market breadth was skewed towards advancers as 44 equities advanced versus 19 that declined.
Daily trading activity
Total volume traded was down by 7.41 percent with 153.56 million shares changing hands at a total value of KD 20.34 million (16.01 percent lower compared to Thursday's session). Investment sector was the volume leader, accounting for 43.36 percent of total shares exchanges. Al- Safat Investment Company was the session's most traded stock with 9.68 million shares exchanged. The same sector was the value leader, having 28.14 percent of total traded value.
Top gainers and biggest decliners
In terms of top gainers, National Real Estate Company was the top gainer for the day, adding 8.20 percent to its share value and closing at KD 0.132. On the other hand, Kuwait National Cinema Company shed 9.09 percent and closed at KD 1 making it the biggest decliner in the market.
Sectors wise
During yesterday's session, five out of the eight sectors ended the day with gains. Investment sector topped the gainer's list, adding 1.07 percent, on the back of the increase in Kuwait Projects Company's (Holding) share price. The scrip added 3.03 percent to close at KD 0.340. Bayan Investment Company was the top gainer within the sector. The scrip closed up by 7.58 percent at KWD0.0355. Elsewhere in the investment sector, Commercial Facilities Company and Kuwait Investment Company were up by 1.85 percent and 1.79 percent, respectively. This sector is trading at a weighted P/E of 10.71x.
Global Real Estate Index followed, rising by 0.88 percent. National Real Estate Company was the top gainer for the day, adding 8.20 percent to its share price to close at KD 0.132. Food sector came in the third place as its index rose by 0.76 percent. The sector's biggest gainer was Danah Al-Safat Foodstuff Company, which soared by 3.19 percent to close at KD 0.097. It is worth mentioning that the BOD of Danah will meet to discuss the company's financial statements for the 3Q2011 in October 31, 2011.
On the other hand, services sector was the sole decliner during the session, shedding 0.70 percent. Heavyweights, Zain and National Mobile Telecommunications Company closed down by 1.06 percent and 1 percent, respectively. Among stocks moving on specific news, Jazeera Airways Company saw its share value appreciate by 7.04 percent during the day, to close at KD 0.380, its highest level since December 17, 2008. The company announced that it will post its Q3 financial statements on October 31, 2011 through live webcast.
Corporate news
The Kuwait Central Bank approved Commercial Bank of Kuwait request to buy back a maximum of 10 percent of its outstanding shares for another six-month period starting November 21, 2011.
Oil news
The price of OPEC basket of twelve crudes stood at $109.09pb on Thursday, compared with $108.83pb the previous day, according to OPEC Secretariat calculations.
KUWAIT: Kuwait Stock Exchange (KSE) closed yesterday's session adding margin gains to major indices after banking sector closed unchanged. Gains were broad-based with five out of the eight sectors gaining upward momentum. While increased investor interest in select stocks in investment sector lifted the market higher.
Market indices
Global General Index (GGI) ended the day up by 0.03 percent, at 182.97 point. Market capitalization was up for the day, reaching KD 29.95 billion. On the other hand, KSE Price Index closed at 5,908.5 point, adding 6.40 points (0.11 percent) to its previous close.
Market breadth
During the session, 108 companies were traded. Market breadth was skewed towards advancers as 44 equities advanced versus 19 that declined.
Daily trading activity
Total volume traded was down by 7.41 percent with 153.56 million shares changing hands at a total value of KD 20.34 million (16.01 percent lower compared to Thursday's session). Investment sector was the volume leader, accounting for 43.36 percent of total shares exchanges. Al- Safat Investment Company was the session's most traded stock with 9.68 million shares exchanged. The same sector was the value leader, having 28.14 percent of total traded value.
Top gainers and biggest decliners
In terms of top gainers, National Real Estate Company was the top gainer for the day, adding 8.20 percent to its share value and closing at KD 0.132. On the other hand, Kuwait National Cinema Company shed 9.09 percent and closed at KD 1 making it the biggest decliner in the market.
Sectors wise
During yesterday's session, five out of the eight sectors ended the day with gains. Investment sector topped the gainer's list, adding 1.07 percent, on the back of the increase in Kuwait Projects Company's (Holding) share price. The scrip added 3.03 percent to close at KD 0.340. Bayan Investment Company was the top gainer within the sector. The scrip closed up by 7.58 percent at KWD0.0355. Elsewhere in the investment sector, Commercial Facilities Company and Kuwait Investment Company were up by 1.85 percent and 1.79 percent, respectively. This sector is trading at a weighted P/E of 10.71x.
Global Real Estate Index followed, rising by 0.88 percent. National Real Estate Company was the top gainer for the day, adding 8.20 percent to its share price to close at KD 0.132. Food sector came in the third place as its index rose by 0.76 percent. The sector's biggest gainer was Danah Al-Safat Foodstuff Company, which soared by 3.19 percent to close at KD 0.097. It is worth mentioning that the BOD of Danah will meet to discuss the company's financial statements for the 3Q2011 in October 31, 2011.
On the other hand, services sector was the sole decliner during the session, shedding 0.70 percent. Heavyweights, Zain and National Mobile Telecommunications Company closed down by 1.06 percent and 1 percent, respectively. Among stocks moving on specific news, Jazeera Airways Company saw its share value appreciate by 7.04 percent during the day, to close at KD 0.380, its highest level since December 17, 2008. The company announced that it will post its Q3 financial statements on October 31, 2011 through live webcast.
Corporate news
The Kuwait Central Bank approved Commercial Bank of Kuwait request to buy back a maximum of 10 percent of its outstanding shares for another six-month period starting November 21, 2011.
Oil news
The price of OPEC basket of twelve crudes stood at $109.09pb on Thursday, compared with $108.83pb the previous day, according to OPEC Secretariat calculations.
© Kuwait Times 2011
