17 May 2010
KUWAIT: The Kuwait Stock Exchange (KSE) ended the first trading session of the week on a negative note, with declines witnessed in all major indicators and indices. Furthermore, the KSE announced it has suspended trading in stocks of 22 listed firms for failing to declare their first quarter results on time. A statement posted on the KSE website said the companies failed to announce first quarter results within the stipulated 45 days. The suspensions will end once companies announce results, it said. It is worth mentioning that all Gulf stock markets recorded a decline during yesterday's trading.
Market indices
Global General Index (GGI) shed 1.58 points (- 0.77 percent) during yesterday's session to reach 204.68 points. In addition, the KSE Price Index increased by 45.30 points (- 0.63 percent) yesterday and closed at 7,109.60 points. Market capitalization was down KD 259.46 million yesterday to reach KD 33.81 billion.
Market breadth
During yesterday's session, 111 companies were traded. Market breadth was skewed towards decliners, as 71 equities retreated versus 18 that advanced. A total of 122 stocks remained unchanged during yesterday's trading session.
Daily trading activity
Trading activities ended on a negative note yesterday as volume of shares traded on the exchange decreased by 61.57 percent to reach 111.97 million shares. Furthermore, value of shares traded dropped by 41.41 percent to stand at KD 26.20 million, which is the lowest recorded value since February 24, 2009. The services sector was both the volume and value leader yesterday, accounting for 28.43 percent of total market volume and 39.46 percent of total value. Gulf Finance House was the volume leader yesterday, with a total traded volume of 11.68mn. Zain was the value leader, with a total traded value of KD 4.53 million.
Top gainers and biggest decliners
In terms of top gainers, Strategia Investment Company took the top spot for the day, adding 7.58 percent and closed at KD 0.035. On the other hand, Damac Kuwaiti Holding Company shed 10.31 percent and closed at KD 0.087, making it the biggest decliner in the market.
Sectors wise
Regarding Global's sectoral indices, they all ended the day on a negative note, with Global Insurance Index being the top decliner. The index ended the day down 1.29 percent backed by Kuwait Insurance Company being the only decliner in the sector, while the remaining companies were unchanged. The scrip ended the day down 6.25 percent to close at KD 0.300.
Global Industrial Index was the second biggest decliner, down 1.26 percent backed by National Industries Group (Holding) ending the day down 2.78 percent and closed at KD 0.350. In addition, Kuwait Metal Pipe Industries & Oil Services also contributed to the index's decline, by posting a drop of 2.63 percent to close at KD 0.370.
Global's special indices ended on a negative note, except for Global Small Cap Index being the only gainer. The index posted a gain of 1.48 percent backed by Strategia Investment Company. On the other side, Global High Yield Index was the top decliner, down 0.89 percent backed by heavyweight Kuwait Foodstuff Company (Americana) ending the day down 1.37 percent.
Oil news
The price of OPEC basket of twelve crudes stood at $78.43 a barrel on Thursday, compared with $78.29 the previous day, according to OPEC Secretariat calculations.
Market news
National Investment Company yesterday said it has received the central bank's approval to extend the buyback of up to 10 percent of its issued shares for another six-month period. The lender said in a statement posted on the KSE website.
Egypt Kuwait Holding Company's shares will be suspended from trading on Kuwait Stock Exchange, effective from today, since the latter did not submit its financial statements for the first quarter ended March 31, 2010.
KUWAIT: The Kuwait Stock Exchange (KSE) ended the first trading session of the week on a negative note, with declines witnessed in all major indicators and indices. Furthermore, the KSE announced it has suspended trading in stocks of 22 listed firms for failing to declare their first quarter results on time. A statement posted on the KSE website said the companies failed to announce first quarter results within the stipulated 45 days. The suspensions will end once companies announce results, it said. It is worth mentioning that all Gulf stock markets recorded a decline during yesterday's trading.
Market indices
Global General Index (GGI) shed 1.58 points (- 0.77 percent) during yesterday's session to reach 204.68 points. In addition, the KSE Price Index increased by 45.30 points (- 0.63 percent) yesterday and closed at 7,109.60 points. Market capitalization was down KD 259.46 million yesterday to reach KD 33.81 billion.
Market breadth
During yesterday's session, 111 companies were traded. Market breadth was skewed towards decliners, as 71 equities retreated versus 18 that advanced. A total of 122 stocks remained unchanged during yesterday's trading session.
Daily trading activity
Trading activities ended on a negative note yesterday as volume of shares traded on the exchange decreased by 61.57 percent to reach 111.97 million shares. Furthermore, value of shares traded dropped by 41.41 percent to stand at KD 26.20 million, which is the lowest recorded value since February 24, 2009. The services sector was both the volume and value leader yesterday, accounting for 28.43 percent of total market volume and 39.46 percent of total value. Gulf Finance House was the volume leader yesterday, with a total traded volume of 11.68mn. Zain was the value leader, with a total traded value of KD 4.53 million.
Top gainers and biggest decliners
In terms of top gainers, Strategia Investment Company took the top spot for the day, adding 7.58 percent and closed at KD 0.035. On the other hand, Damac Kuwaiti Holding Company shed 10.31 percent and closed at KD 0.087, making it the biggest decliner in the market.
Sectors wise
Regarding Global's sectoral indices, they all ended the day on a negative note, with Global Insurance Index being the top decliner. The index ended the day down 1.29 percent backed by Kuwait Insurance Company being the only decliner in the sector, while the remaining companies were unchanged. The scrip ended the day down 6.25 percent to close at KD 0.300.
Global Industrial Index was the second biggest decliner, down 1.26 percent backed by National Industries Group (Holding) ending the day down 2.78 percent and closed at KD 0.350. In addition, Kuwait Metal Pipe Industries & Oil Services also contributed to the index's decline, by posting a drop of 2.63 percent to close at KD 0.370.
Global's special indices ended on a negative note, except for Global Small Cap Index being the only gainer. The index posted a gain of 1.48 percent backed by Strategia Investment Company. On the other side, Global High Yield Index was the top decliner, down 0.89 percent backed by heavyweight Kuwait Foodstuff Company (Americana) ending the day down 1.37 percent.
Oil news
The price of OPEC basket of twelve crudes stood at $78.43 a barrel on Thursday, compared with $78.29 the previous day, according to OPEC Secretariat calculations.
Market news
National Investment Company yesterday said it has received the central bank's approval to extend the buyback of up to 10 percent of its issued shares for another six-month period. The lender said in a statement posted on the KSE website.
Egypt Kuwait Holding Company's shares will be suspended from trading on Kuwait Stock Exchange, effective from today, since the latter did not submit its financial statements for the first quarter ended March 31, 2010.
© Kuwait Times 2010
