23 September 2010
KUWAIT: Kuwaiti equities ended yesterday's session in a positive note. The gains came on the back of a smart rally staged by Industrial and banking stocks, namely Kuwait Finance House (KFH) and United Industries Co. All major indices inched higher during the day.
Market Indices
Global General Index (GGI) closed 0.88 points up (0.42 percent) during the day at 210.43 point as the Market capitalization was up for the day reaching KD33.88mn. On the other side, Kuwait Stock Exchange Price Index managed to close up gaining a 24.50 point to its value and closed at 6,845.3 point.
Market Breadth
During the session, 121 companies were traded. Market breadth was skewed towards advancers as 44 equities advancedversus 36 that retreated, while 131 stocks remained unchanged during the trading session.
Daily Trading Activity
Trading activities ended on a positive note today as volume of shares traded on the exchange increased by 42.04 percent to reach 385.58mn shares, and value of shares traded increased by 10.13 percent to stand at KD48.72mn.
The Investment Sector was the volume leader today, accounting for 36.39 percent of total shares and the Banking Sector was the value leader, with 24.80 percent of total traded value.
International Financial Advisors (IFA) led the volume & Value leaders list for the day, as investors traded 47.48mn shares of the company with a total traded value of KD3.19mn.
Top Gainers and Biggest Decliners
In terms of top gainers, United Industries Co. was the biggest gainer for the day, adding 8.47 percent and closed at KD0.128. On the other hand, Kuwait Cable Vision Co. was the biggest decliner, dropping by 7.35 percent and closed at KD0.063.
Sectors Wise
The advance was broad-based with 5 out of 8 sectors closing in positive territory. Industrial stocks spearheaded advancers, clocking 0.91 percent in sector gains. United Industries Co. rose by 8.47 percent. Also, among the sector's gainers were Kuwait Building Materails Manufacturing Co. (+8.00 percent) and Ikarus Petroleum Industries Co. (+7.35 percent). Banking sector added 0.73 percent compared to the previous closing. Kuwait Finance House (KFH), was the sector's major gainer, as it soared by 3.57 percent to reach KD1.160. Boubyan Bank followed adding 1.64 percent to close at KD0.620. On the other hand, Food sector was the major decliner for the day shedding by 0.83 percent, as Kuwait Foodstuff Company (Americana) plunged by 1.30 percent to close at KD1.520.
Oil News
The price of Kuwaiti crude oil hiked by 71 cents in trading on Tuesday to settle at USD 73.96 a barrel, compared with last Monday's price of USD 73.25, the Kuwait Petroleum Corporation (KPC) said on Wednesday. The rise in Kuwaiti oil prices comes in spite of the appreciation of the US dollar versus other key currencies due to expectations of data on the US economy. Kuwait's current oil prices are the highest in six weeks, but they are still within the OPEC target of USD 70-80 per barrel. Kuwait will host on October 10 the 29th GCC ministerial meeting of the petroleum cooperation committee headed by Oil Minister and Information Minister Sheikh Ahmad Al-Abdullah Al-Sabah.
KUWAIT: Kuwaiti equities ended yesterday's session in a positive note. The gains came on the back of a smart rally staged by Industrial and banking stocks, namely Kuwait Finance House (KFH) and United Industries Co. All major indices inched higher during the day.
Market Indices
Global General Index (GGI) closed 0.88 points up (0.42 percent) during the day at 210.43 point as the Market capitalization was up for the day reaching KD33.88mn. On the other side, Kuwait Stock Exchange Price Index managed to close up gaining a 24.50 point to its value and closed at 6,845.3 point.
Market Breadth
During the session, 121 companies were traded. Market breadth was skewed towards advancers as 44 equities advancedversus 36 that retreated, while 131 stocks remained unchanged during the trading session.
Daily Trading Activity
Trading activities ended on a positive note today as volume of shares traded on the exchange increased by 42.04 percent to reach 385.58mn shares, and value of shares traded increased by 10.13 percent to stand at KD48.72mn.
The Investment Sector was the volume leader today, accounting for 36.39 percent of total shares and the Banking Sector was the value leader, with 24.80 percent of total traded value.
International Financial Advisors (IFA) led the volume & Value leaders list for the day, as investors traded 47.48mn shares of the company with a total traded value of KD3.19mn.
Top Gainers and Biggest Decliners
In terms of top gainers, United Industries Co. was the biggest gainer for the day, adding 8.47 percent and closed at KD0.128. On the other hand, Kuwait Cable Vision Co. was the biggest decliner, dropping by 7.35 percent and closed at KD0.063.
Sectors Wise
The advance was broad-based with 5 out of 8 sectors closing in positive territory. Industrial stocks spearheaded advancers, clocking 0.91 percent in sector gains. United Industries Co. rose by 8.47 percent. Also, among the sector's gainers were Kuwait Building Materails Manufacturing Co. (+8.00 percent) and Ikarus Petroleum Industries Co. (+7.35 percent). Banking sector added 0.73 percent compared to the previous closing. Kuwait Finance House (KFH), was the sector's major gainer, as it soared by 3.57 percent to reach KD1.160. Boubyan Bank followed adding 1.64 percent to close at KD0.620. On the other hand, Food sector was the major decliner for the day shedding by 0.83 percent, as Kuwait Foodstuff Company (Americana) plunged by 1.30 percent to close at KD1.520.
Oil News
The price of Kuwaiti crude oil hiked by 71 cents in trading on Tuesday to settle at USD 73.96 a barrel, compared with last Monday's price of USD 73.25, the Kuwait Petroleum Corporation (KPC) said on Wednesday. The rise in Kuwaiti oil prices comes in spite of the appreciation of the US dollar versus other key currencies due to expectations of data on the US economy. Kuwait's current oil prices are the highest in six weeks, but they are still within the OPEC target of USD 70-80 per barrel. Kuwait will host on October 10 the 29th GCC ministerial meeting of the petroleum cooperation committee headed by Oil Minister and Information Minister Sheikh Ahmad Al-Abdullah Al-Sabah.
© Kuwait Times 2010
