KSE index falls 51.76 pts lower to 5,571.93 points

Kuwait stocks plunged 51.76 or 0.92% lower to 5571.93 points at the start of the week as low risk attitudes prevailed. The bourse marked a 31.83% drop in volume from last week's close. The weighted index ebbed 0.94 points lower to 380.46 points. The KSE benchmark slipped 0.14 points lower to 902.02 points. The number of trades stood at 2,008 with a low volume of 54.13 million shares exchanged for

  
22 December 2015
Bourse marks 31.83 pct drop in volume
Kuwait stocks plunged 51.76 or 0.92% lower to 5571.93 points at the start of the week as low risk attitudes prevailed. The bourse marked a 31.83% drop in volume from last week's close. The weighted index ebbed 0.94 points lower to 380.46 points. The KSE benchmark slipped 0.14 points lower to 902.02 points. The number of trades stood at 2,008 with a low volume of 54.13 million shares exchanged for a value of KD 7.58 million. The bourse slipped under in early trade and failed to make a turn to the green during the session, extending losses in the final hour. A total of 122 counters remained active with only 22 closing in the green. 71 companies closed in the red and 29 closed flat.

Kuwait Food Company (Americana) led the pack of gainers with a 4.21% rise to KD 1.980 while Boubyan Petrochemical Company followed in close step with a 4% increase to 520 fils. IFA Hotels & Resorts Co stood at 174 fils share price logging a 3.57% positive change while Gulf Cable & Electrical Industries Co finished at 375 fils with a 2.74% increment. Al Rai Media Group Company shifted 2.6% higher to 158 fils. Kuwait Cable Vision took a 10% hard fall to 22.5 fils while Noor Financial Investment Company closed at 50 fils with a 9.095 cut. ACICO Industries Co shifted 8.77% lower and Al-Massaleh Real Estate Co slid 8.47% under to 54 fils. Al- Safat Energy Holding slumped to 12.5 fils with a 7.41% downturn. Al-Madina For Finance And Investment Co traded the top volume of the day with 6.99 million shares exchanged, Investors Holding Group Company saw a robust activity of 4.97 million shares and The Securities House traded 3.92 million shares on the trading floor.

Al Dar National Real Estate Co also moved 3.85 million shares while 2.5 million shares of National Bank of Kuwait were traded. Telecommunications closed at 593.82 points, 4.77 points higher with significant reductions in volume and value traded as compared to the previous session, albeit amounting to 8.17% of the total market volume and 20.63 of the total market value. Viva made a 10 point leap to KD 1 while Mobile Telecommunications Company - Zain climbed 5 points for a 345 fils finish and traded 2.258 million shares in the session. Ooredoo held ground at KD 1.040 while Hits Telecom Holding Co closed flat at 28 fils. Banks closed 0.57% lower at 901.3 points. The sector accounted for 13.93% of the total market volume and nearly half of the total market value.

National Bank of Kuwait closed flat at 810 fils, trading 2.55 million shares for a value of KD 2 million. Kuwait Finance House slipped 10 points lower to 550 fils and trading 1.19 million shares while Boubyan Bank closed flat at 435 fils and traded 1.57 million shares. Gulf Bank and Kuwait International Bank logged no change in share price from the previous session, finished at 265 fils and 220 fils respectively. Meanwhile Al Ahli Bank of Kuwait and Burgan Bank took 5 point cut to 365 fils and 380 fils respectively. Warba bank skimmed 2 points lower to 196 fils and Ithmaar Bank skimmed 0.5 points lower to 42 fils. The financial services sector closed at 593.6 points, 1.16% lower with marked decreases in volume and value exchanged from last week's close.

Al-Madina For Finance And Investment Co made a 2 point retreat to 33.5 fils while The Securities House slid 2.5 points lower to 37.5 fils and National Industries Group made a 2 point depress to 124 fils. Privatization Holding Company clambered 1 point higher to 55 fils and Ekttitab Holding Co shed 0.5 points for a 29.5 fils close. Real Estate slumped 1.33% to stand at 928.8 points. The sector accounted for 27.06% of the total market volume and 8.53% of the total market value. Mabanee Company stood firm at 950 fils while Investors Holding Group Company dropped 1.5 points lower to 24 fils and Al Dar National Real Estate Co inched 1 point lower to 27 fils. Al Mudon Intl Real Estate Co made a 0.5 point rise to 30.5 fils and The Commercial Real Estate Co stood at 81 fils with a 2 point turn to the green. Oil and gas sector stood at 778.6 points marking a 1.58% downturn.

Gulf Petroleum Investment fell 1 point down to 52 fils and Independent Petroleum Group took a 6 point tumble to 242 fils. Al-Safat Energy Holding and Ikarus Petroleum Industries Co edged 1 point downwards to 12.5 fils and 92 fils respectively. Burgan Company For Well Drilling, Trading & Maintenance slashing 8 points off its share price, ended the session at 116 fils. Industrials also closed at 1.045 points in the red, enduring a 1.43% downturn. Agility Public Warehousing Company took a 5 point dip to 475 fils while ACICO Industries Co crashed 25 points lower to 260 fils and Sharjah Cement And Industrial Development Co with a 2 point drop, closed at 82 fils. Kuwait Portland Cement Co faced a 60 point hard fall to KD 1.060 and Equipment Holding Co inched 2 points lower to 56 fils.

In consumer goods, Kuwait Food Company (Americana) made a 80 point advance to KD 1.980 and Danah Al Safat Foodstuff Company inched 1 point higher to 84 fils. In the consumer services sector, Kuwait National Cinema Co Fell by 20 points to 900 fils and Jazeera Airways Co closed flat at 900 fils. Kuwait Resorts Company trailed 3 points lower at 92 fils and Zima Holding Co closed flat at 114 fils. In the technology sector, Hayat Communication Co moved 1 point higher for a 47 fils share price. In Basic Materials, Qurain Petrochemical Industries Company closed flat at 186 fils and Boubyan Petrochemical Company made a 20 point jump to 520 fils.

© Arab Times 2015