20 November 2007
KUWAIT: KSE market rebounded during yesterday's session making up for yesterday's losses. The benchmark Global General Index (GGI) ended the session up by 5.32 points (1.41 percent) to close at 381.98 points. Meanwhile, Kuwait Stock Exchange Price Index added 127.50 points (1.02 percent), to close at 12,586.4 points.
Market capitalization rose by 1.41 percent yesterday to reach KD 57.90bn.
During yesterday's session, 156 companies were traded. Market breadth was skewed toward the advancers as 93 reported daily gains, while only 20 witnessed losses.
Volume and value of shares traded on the exchange surged substantially surged during the session as investors exchanged 292.6mn shares (+118.29 percent) at a total value of KD126.71mn (+145.85 percent). Also transactions rose by 98.77 percent to 8,696. Investment sector accounted for 33.42 percent of total volume traded during yesterday's session. Real estate sector followed accounting for 26.98 percent of traded volume.
Al-Safwa Holding Group was the volume leader for the second consecutive day. Investors exchanged 24.46mn of the company's shares. The scrip ended the day at 162fils up 2.53 percent making up for yesterday's losses.
Buying interest was witnessed on shares of Heavy Engineering Industries and Shipbuilding Company, which was the prominent gainer for the day adding 7.69 percent to close at 560fils. Hayat Communications Company followed adding 7.58 percent to end the session at 355fils. On the other hand, Mushrif Trading and Contracting Company was the biggest loser as it plunged by 6.25 percent to reach 750fils.
During yesterday's session, all sectors ended the day on a positive. Services sector topped the gainer's list yesterday adding 2.15 percent, on the back of the sector's heavyweight stocks. Among the sector's main gainers, National Mobile Telecommunication Company rose by 3.73 percent to close at KD2.780.
Zain also soared by 2.67 percent closing at KD3.840. Agility ended yesterday's session at KD1.440, up 1.41 percent. Also, it is worth noting that Agility announced that its private equity unit was among a consortium that won a bid to acquire a 51.0 percent stake in Kenya TelKom for US$391.0mn.
Real estate sector followed rising by 1.86 percent. Jeezan Real Estate Company was the sector's major gainer as it soared by 7.27 percent. International Resorts Company and Kuwait Real Estate Company added 4.76 percent and 4.39 percent respectively. From the sector's news, Al-Argan International Real Estate Company announced that it will start a mega project in Oman, as Al-Argan Towel a subsidiary, intends to start a project that consists of a marina and three hotels with a value of KD450.0mn.
However, the company still has not received an approval from the Omani government. Company's scrip rose by 4.17 percent to close at 375fils.
The AGM of Global Holding Group decided to change the company's name to Mina Holding Group.
Mubarrad Transport Company traded as ex-dividend on November 20-2007, as the company's AGM approved raising the company's capital by 100.0 percent. The new share valued 200fils. Arabi Holding Group announced that the subscription in the company's capital increase (84.0 percent) will be extended from November-18 till December-17. The new share will be valued 295fils.
KUWAIT: KSE market rebounded during yesterday's session making up for yesterday's losses. The benchmark Global General Index (GGI) ended the session up by 5.32 points (1.41 percent) to close at 381.98 points. Meanwhile, Kuwait Stock Exchange Price Index added 127.50 points (1.02 percent), to close at 12,586.4 points.
Market capitalization rose by 1.41 percent yesterday to reach KD 57.90bn.
During yesterday's session, 156 companies were traded. Market breadth was skewed toward the advancers as 93 reported daily gains, while only 20 witnessed losses.
Volume and value of shares traded on the exchange surged substantially surged during the session as investors exchanged 292.6mn shares (+118.29 percent) at a total value of KD126.71mn (+145.85 percent). Also transactions rose by 98.77 percent to 8,696. Investment sector accounted for 33.42 percent of total volume traded during yesterday's session. Real estate sector followed accounting for 26.98 percent of traded volume.
Al-Safwa Holding Group was the volume leader for the second consecutive day. Investors exchanged 24.46mn of the company's shares. The scrip ended the day at 162fils up 2.53 percent making up for yesterday's losses.
Buying interest was witnessed on shares of Heavy Engineering Industries and Shipbuilding Company, which was the prominent gainer for the day adding 7.69 percent to close at 560fils. Hayat Communications Company followed adding 7.58 percent to end the session at 355fils. On the other hand, Mushrif Trading and Contracting Company was the biggest loser as it plunged by 6.25 percent to reach 750fils.
During yesterday's session, all sectors ended the day on a positive. Services sector topped the gainer's list yesterday adding 2.15 percent, on the back of the sector's heavyweight stocks. Among the sector's main gainers, National Mobile Telecommunication Company rose by 3.73 percent to close at KD2.780.
Zain also soared by 2.67 percent closing at KD3.840. Agility ended yesterday's session at KD1.440, up 1.41 percent. Also, it is worth noting that Agility announced that its private equity unit was among a consortium that won a bid to acquire a 51.0 percent stake in Kenya TelKom for US$391.0mn.
Real estate sector followed rising by 1.86 percent. Jeezan Real Estate Company was the sector's major gainer as it soared by 7.27 percent. International Resorts Company and Kuwait Real Estate Company added 4.76 percent and 4.39 percent respectively. From the sector's news, Al-Argan International Real Estate Company announced that it will start a mega project in Oman, as Al-Argan Towel a subsidiary, intends to start a project that consists of a marina and three hotels with a value of KD450.0mn.
However, the company still has not received an approval from the Omani government. Company's scrip rose by 4.17 percent to close at 375fils.
The AGM of Global Holding Group decided to change the company's name to Mina Holding Group.
Mubarrad Transport Company traded as ex-dividend on November 20-2007, as the company's AGM approved raising the company's capital by 100.0 percent. The new share valued 200fils. Arabi Holding Group announced that the subscription in the company's capital increase (84.0 percent) will be extended from November-18 till December-17. The new share will be valued 295fils.
© Kuwait Times 2007
