07 July 2011
KUWAIT: Kuwaiti equities reversed its north journey that lasted for the past two consecutive sessions, and ended yesterday on a lower note. Both Large Cap and Small Cap stocks performed poorly during the day. As measured by Global Large Cap Index, heavy weight stocks inched lower by 0.61 percent. While Small Cap index closed lower by 0.14 percent.
Market Indices
Global General Index (GGI), market weighted, ended the day down by 0.30 percent, at 191.73 point. Market Capitalization was down for the day at KD31.29bn. On the other hand, KSE Price Index closed at 6,208.5 point, shedding 5.20 points (0.08 percent) to its previous close.
Market Breadth
During the session, 96 companies were traded. Market breadth was skewed towards advancers as 30 equities advanced versus 29 that retreated.
Daily Trading Activity
Trading activity was up this session. Total volume traded was up by 6.98 percent with 96.27mn shares changing hands at a total value of KD13.89mn (0.57 percent higher compared to the day before). The real estate sector was the volume leader yesterday, accounting for 29.79 percent of total shares. The services sector was the value leader, with 30.92 percent of total traded value. Zain Company was the most active in terms of values traded during yesterday session, with 1.79mn shares exchanged at an aggregate value of KD1.83mn.
Top Gainers and Biggest Decliners
In terms of top gainers, IFA Hotels & Resorts Co took the top spot for the day, adding 7.25 percent and closed at KD0.370. On the other hand, Kuwait Bahrain International Exchange Co shed 8.47 percent and closed at KD0.270, making it the biggest decliner in the market.
Sectors Wise
The market saw three sector decline led by Global Services Index and three sector incline led by Global Industrial Index, while two sectors remained unchanged, Global Insurance Index and Global Food Index. Global Services Index was the biggest decliner in the session. It shed by 0.96 percent, that is 8.02 points lower than the previous close, to stay at 828.9 points. The decline in ZAIN share price had a major impact on the index. The scrip went down by 1.92 percent, that is KD0.020 lower than the previous close, reaching KD1.020.
Another major cause for the downsize in the index was the big loss of Gulf Petroleum Investment Company and Privatization Holding Company. The two stocks declined by 4.48 and 3.77 percent, respectively which made them the second and the fourth top losers in the market. The banking sector had almost a steady session with only 2 decliners and 7 other banks remaining unchanged. The two decliners were Boubyan Bank and Ahli United Bank. They went down by 1.64 and 1.19 percent to have a stock price of KD0.600 and KD0.830, respectively. Most of the unchanged banks witnessed trading activities but without a change in their stock price.
One major gainer in the session was Global Industrial Index. The sector had the second highest trading value among all sectors and went up by 0.30 percent to settle on 185.29 points. Although the sector has a big decliner which is Kuwait Portland Cement that went down by 3.33 percent, the index was supported by several gaining stocks. National Industries Group and Kuwait Metal Pipe Industries & Oil Services were the biggest gainers in the industrial sector. They went up by 2.59 and 2.17 percent respectively, which lifted the sector to higher level.
Oil News
The price of Kuwaiti crude oil decreased $0.78 to reach $104.06pb on Tuesday, compared to $104.84 per barrel the day before, said Kuwait Petroleum Corporation (KPC) yesterday. The stability of crude prices comes at a time when EU approves helping the Greek credit crisis.
Corporate News
Agility Company has won a contract to manage international freight and on-site handling services for the Gastech 2012 natural gas conference and exhibition. More than 400 international companies will participate at this event that will be held at the ExCeL exhibition centre in London from Oct 8 to Oct 11.
KUWAIT: Kuwaiti equities reversed its north journey that lasted for the past two consecutive sessions, and ended yesterday on a lower note. Both Large Cap and Small Cap stocks performed poorly during the day. As measured by Global Large Cap Index, heavy weight stocks inched lower by 0.61 percent. While Small Cap index closed lower by 0.14 percent.
Market Indices
Global General Index (GGI), market weighted, ended the day down by 0.30 percent, at 191.73 point. Market Capitalization was down for the day at KD31.29bn. On the other hand, KSE Price Index closed at 6,208.5 point, shedding 5.20 points (0.08 percent) to its previous close.
Market Breadth
During the session, 96 companies were traded. Market breadth was skewed towards advancers as 30 equities advanced versus 29 that retreated.
Daily Trading Activity
Trading activity was up this session. Total volume traded was up by 6.98 percent with 96.27mn shares changing hands at a total value of KD13.89mn (0.57 percent higher compared to the day before). The real estate sector was the volume leader yesterday, accounting for 29.79 percent of total shares. The services sector was the value leader, with 30.92 percent of total traded value. Zain Company was the most active in terms of values traded during yesterday session, with 1.79mn shares exchanged at an aggregate value of KD1.83mn.
Top Gainers and Biggest Decliners
In terms of top gainers, IFA Hotels & Resorts Co took the top spot for the day, adding 7.25 percent and closed at KD0.370. On the other hand, Kuwait Bahrain International Exchange Co shed 8.47 percent and closed at KD0.270, making it the biggest decliner in the market.
Sectors Wise
The market saw three sector decline led by Global Services Index and three sector incline led by Global Industrial Index, while two sectors remained unchanged, Global Insurance Index and Global Food Index. Global Services Index was the biggest decliner in the session. It shed by 0.96 percent, that is 8.02 points lower than the previous close, to stay at 828.9 points. The decline in ZAIN share price had a major impact on the index. The scrip went down by 1.92 percent, that is KD0.020 lower than the previous close, reaching KD1.020.
Another major cause for the downsize in the index was the big loss of Gulf Petroleum Investment Company and Privatization Holding Company. The two stocks declined by 4.48 and 3.77 percent, respectively which made them the second and the fourth top losers in the market. The banking sector had almost a steady session with only 2 decliners and 7 other banks remaining unchanged. The two decliners were Boubyan Bank and Ahli United Bank. They went down by 1.64 and 1.19 percent to have a stock price of KD0.600 and KD0.830, respectively. Most of the unchanged banks witnessed trading activities but without a change in their stock price.
One major gainer in the session was Global Industrial Index. The sector had the second highest trading value among all sectors and went up by 0.30 percent to settle on 185.29 points. Although the sector has a big decliner which is Kuwait Portland Cement that went down by 3.33 percent, the index was supported by several gaining stocks. National Industries Group and Kuwait Metal Pipe Industries & Oil Services were the biggest gainers in the industrial sector. They went up by 2.59 and 2.17 percent respectively, which lifted the sector to higher level.
Oil News
The price of Kuwaiti crude oil decreased $0.78 to reach $104.06pb on Tuesday, compared to $104.84 per barrel the day before, said Kuwait Petroleum Corporation (KPC) yesterday. The stability of crude prices comes at a time when EU approves helping the Greek credit crisis.
Corporate News
Agility Company has won a contract to manage international freight and on-site handling services for the Gastech 2012 natural gas conference and exhibition. More than 400 international companies will participate at this event that will be held at the ExCeL exhibition centre in London from Oct 8 to Oct 11.
© Kuwait Times 2011
