Kuwait index closes at 8.42 points higher; most sectors end in green; Manazel Holding top gainer of the day

KUWAIT CITY, Dec 16Kuwait stocks continued to steer into green with a 0.15 percent or 8.42 points rise to 5,624.6 points with most sectors logging green indices. The weighted index stood at 382 points, up by 0.42 points. The KSE 15 index closed at 903.66 points with a 0.41 point hike. The bourse rose above the line in early trade and managed to stay above board until the session's close. The

  
KUWAIT CITY, Dec 16

Kuwait stocks continued to steer into green with a 0.15 percent or 8.42 points rise to 5,624.6 points with most sectors logging green indices. The weighted index stood at 382 points, up by 0.42 points. The KSE 15 index closed at 903.66 points with a 0.41 point hike. The bourse rose above the line in early trade and managed to stay above board until the session's close. The total number of trades in the bourse stood at 2,879 with a 102.82 million share turnover for a value of KD 12.83 million.

A total of 125 companies traded today with 37 advancing, 36 retreating and 52 closing flat. Manazel Holding was the top gainer of the day with a 12.2 percent increment to 23 fils, trading 3.78 million shares. Amar Finance & Leasing Co followed with a 58 fils close, moving up 9.43 percent and Burgan company for well drilling, trading & Maintenance took a 8.2 percent hike to 132 fils. Al Rai Media Group Company trekked 7.04 percent higher to 152 fils and Yiaco Medical Co closed 164 fils moved up 6.49 percent. On the other hand, Zima Holding Co dropped 8.06 percent to 114 fils and Al-Deera Holding Co faced a 6.25 percent cut in the session to close at 30 fils.

OSOUL Investment Co and Gulf Franchising Holding Co made a 5.88 percent downturn to 40 fils each and Boubyan Petrochemical Company slipped to 500 fils with a 5.66 percent decrease. The Securities House traded the highest volume of the day at 15 million shares while Al Dar National Real Estate Co saw robust activity of 11.99 million shares exchanged. Al- Madina For Finance And Investment Co followed with a 9.5 million shares turnover and GFH Financial Group and Ajwan Gulf Real Estate Co traded 5.72 million shares and 5.66 million shares each. Telecommunications closed at 590.5 points with a 2.14 point retreat to the red.

Viva shed 10 points to close at 990 fils while Ooredoo and Zain stood firm at KD 1.040 and 435 fils. Hits Telecom Holding Co, meanwhile, made a 0.5 point increase to 28 fils. Banks closed 2.91 points higher at 904/84 points, accounting for 8.49 percent of the total volume traded in the session and 37.30 percent of the total value. National Bank of Kuwait stood firm at 810 fils while trading a volume of 4.33 million shares for a value of KD 3.51 million. Gulf Bank and Commercial Bank of Kuwait closed flat at 265 fils and 500 fils respectively while Warba Bank slipped 2 points down to 198 fils.

Kuwait Finance House and Kuwait International Bank stood stale at 550 fils and 222 fils respectively. Burgan Bank made a 10 point climb to 385 fils while Boubyan Bank and Ithmaar Bank closed flat at 435 fils and 41.5 fils respectively. Financial services, closing at 598.17 points marked a 1.18 point rise with a swell in volume and value from the previous session. The sector made up 46.03 percent of the total volume and 16.58 percent of the total value on the trading floor. The Securities House stood firm at 39.5 fils trading the highest volume of shares on the floor while Kuwait Projects Company (Holding) slipped 10 points down to 570 fils. Al- Madina For Finance And Investment Co eased 0.5 points lower to 35.5 fils and GFH Financial Group stood firm at 33 fils a piece.

The Real Estate sector stood at 944.66 points, with a sturdy 6.22 point augment. Mabanee Company made a 20 point rise to 950 fils while Al Dar National Real Estate Co clambered 1 point higher to 29 fils. National Real Estate Co also trekked 4 points higher to 90 fils and Investors Holding Group Company inched 0.5 points down to 25 fils. Kuwait Real Estate Co scaled 2 points to reach a 58 fils share price. Oil and gas made a 5.69 point reach to the green, closing at 787.01 points. The sector only accounted for 2.465 of the total market volume and 1.31 percent of the total market value.

Gulf Petroleum Investment and Ikarus Petroleum Industries Co closed flat at 53 fils and 92 fils while Burgan Company For Well Drilling, Trading & Maintenance shifted 10 points higher. Al-Safat Energy Holding stood stale at 13 fils as did The Energy House Holding Company at 43 fils. Industrials index stood at 1059.48 points with a significant fall in volume and value traded, as compared to the previous session. Agility Public Warehousing Company dipped 5 points lower to 490 fils while National Ranges Company closed at a flat 210 fils. Aviation Lease And Finance Co was stable at 210 fils while Shuaiba Industrial Co took a 20 point depress to 395 fils and Equipment Holding Co ebbed 2 points lower to 57 fils.

In consumer goods, Mezzan Holding Co stood firm at KD 1.160 while Danah Al Safat Foodstuff Company skid 1 point lower to 82 fils. Kuwait Food Company (Americana) logged no change from its KD 2 share price while Livestock Transport & Trading Co closed at a flat 128 fils. In consumer services, Al Rai Media Group Company took a 10 point leap to 152 fils while Zima Holding Co and Jazeera Airways Co at the same time took a 10 point dive to 114 fils and 880 fils. In the technology sector , Hayat Communications Co crept 1 point higher to 47.5 fils while Future Communications Co. Global closed at a flat 118 fils.

In Basic Materials, Qurain Petrochemical Industries Company held steady at a 186 fils share price while Boubyan Petrochemical Company dropped 30 points to close at 186 fils. In healthcare, Yiaco Mecial Co made a 10 point turn to the green to close at 164 fils and the in insurance, Kuwait Insurance Company closed flat at 305 fils. In related news, National Bank of Kuwait obtained the approval of Central Bank of Kuwait to extend its approval to buy back or sell a maximum of 10 percent of its shares for 6 months from Nov 23, 2015 to May 23, 2016.

© Arab Times 2015