17 December 2015
Kuwait City: Kuwait stocks ebbed 0.91 points or 0.02% lower to 5,623.69 points to close the week in the red with mixed boards. The weighted index dipped 0.6 points to 381.4 points.
The KSE benchmark slid 1.5 points below the line to 902.16 points. The bourse saw a volume turnover of 79.4 million shares for a total value of KD 8.21 million in 2,442 trades. The bourse dipped below the line in early trade and while making attempts to rise above board in choppy trade, slipped under in the final hour. 119 counters remained active in the session with 35 advancing, 37 retreating and 47 closing flat.
Kuwait Cable Vision made the biggest advance of the session with a 11/11% increase to 25 fils while Al-Deera Holding Co closed at 32.5 fils, 8.33% higher. Shuaiba Industrial Co made a 6.33% increment to a 420 fils share price while Coast Investment & Development Co peaked to 33 fils with a 4.76% with Manazel Holding following in close step with a 4.35% upturn to 24 fils.
Kuwait Real Estate Holding Company, on the other hand, took a 8.89% cut to close at 20.5 fils while Real Estate Trade Centers Co made a 8.7% retreat to 21 fils. Gulf Franchising Holding Co, meanwhile, closed at 37.5 fils with a 6.25% depress and Burgan Company For Well Drilling, Trading & Maintenance with a 6.06% dip stood at 124 fils. Kuwait Food Company (Americana) closed at KD 1.9, losing 5% of its share price.
GFH Financial Group traded the largest volume of 9.73 million shares while Manazel Holding saw a robust activity of 9.05 million shares. Al Dar National Real Estate Co exchanged 5.94 million shares on the trading floor while Investors Holding Group Company logged a 4.8 million shares turnover. Ithmaar Bank, at the same time, traded 4.36 million shares.
Telecommunications stood at 589.05 points, marking a 1.45 point retreat with a significant reduction in volume and value traded as compared to the previous session. Viva stood its ground, ending the week at 990 fils while Ooredoo stood firm at KD 1.040 albeit with low activity. Zain eased 5 points lower to 340 fils and traded 3.24 million shares while Hits Telecom Holding Co closed flat at 28 fils, trading 2.57 million shares of its stock.
Banks closed at 906.49 points, up by 1.65 points, accounting for 10.485 of the total market volume and 22.92% of the total market value. National Bank of Kuwait closed at 810 fils, logging no change from the previous session while Gulf Bank closed flat at 265 fils. Kuwait International Bank took a 2 point dive to 220 fils while Commercial Bank of Kuwait closed at an inert 500 fils. Burgan Bank ckised flat at 385 fils while Kuwait Finance House stepped 10 points higher to 560 fils. Ithmaar Bank took a 1 point hike to 42.5 fils while Boubyan Bank and Warba Bank closed flat at 435 fils and 198 fils.
The Real Estate sector closed at 941.33 points, moving 3.33 points lower to close the week in the red. Mabanee Company held its ground at 950 fils while Al Dar National Real Estate Co inched 1 point lower to 28 fils and Investors Holding Group Company climbed 0.5 points to a 25.5 fils finish. At the same time, Al-Enma'a Real Estate Co closed at a flat 65 fils.
Financial services moved up 2.41 points to 600.58 points, making up 45.66% of the total market volume and 17.56% of the total market value in the session. GFH Financial Group made a 1 point augment to the green, trading a sturdy 9.73 million shares for a 34 fils close. Kuwait Projects Company (Holding) closed flat at 570 fils and Manazel Holding took a 1 point upswing to 24 fils. Al-Madina For Finance And Investment Co closed flat at 35.5 fils, trading 2.4 million shares and National Industries Group steered 2 points higher to 126 fils.
The oil and gas index stood at 791.04 points, up by 4.03 points. Gulf Petroleum Investment stood firm at 53 fils while Independent Petroleum Group shot up by 6 points to 248 fils. Al-Safat Energy Holding moved 0.5 points upwards to 13.5 fils and Ikarus Petroleum Industries Co clambered 1 point higher to 93 fils. Burgan Company For Well Drilling, Trading & Maintenance shed 8 points to 124 fils while National Petroleum Services Company took a 10 point jump to 600 fils.
Industrials made a 0.78 point climb to 1060.26 points. Agility Public Warehousing Company took a 10 point nose dive to 480 fils while Ras Al Khaimah Co. For White Cement & Construction slithered 4 points lower to 100 fils. Shuaiba Industrial Co made a 25 point rise to 420 fils and National Ranges Company skimmed 0.5 points lower to 21 fils.
In consumer goods, Kuwait Food Company (Americana) took a 100 point downturn to KD 1.9. Mezzan Holding Co took a 20 point cut to KD 1.140 while Danah Al Safat Foodstuff Company trekked 1 point higher to 83 fils and Livestock Transport & Trading Co skid 4 points lower to 124 fils. In consumer Services, Zima Holding Co closed flat at 114 fils while Jazeera Airways Co soared 20 points higher to 900 fils.
In technology, Hayat Communications Co paced 1.5 points lower to 46 fils and Future Communications Co. Global shed 4 points lower to 114 fils. In basic materials, Qurain Petrochemical Industries Company and Boubyan Petrochemical Company closed flat at 186 fils and 500 fils respectively.
In the healthcare sector, Yiaco Medical Co moved up 6 points to 170 fils and in the insurance sector, Kuwait Insurance Company and Warba Insurance Company closed flat at 305 fils and 102 fils respectively while Wethaq Takaful Insurance Company ebbed 1.5 point lower to 40 fils.
In related news, Burgan Bank obtained the approval of Central Bank of Kuwait and Capital Markets Authority to issue bonds for its holders at a maximum of KD 100 million to use its incomes for additional improvement of capital base.
National Investments Company announced the approval of Capital Markets Authority on to buy back or sell a maximum of 10% of its shares for 6 months as of the date of the approval.
© Arab Times 2015