Kuwait stocks ebb 4.13 pts lower to close at 5802.36 pts - Banking sector drops 0.07 pct

The bourse marked a 97.90 million share turnover to the value of KD


Kuwait stocks ebbed 4.13 points lower to close at 5802.36 points in the red, with a 0.07 percent decrease and a 11.22 percent drop year to date with major sectors closing below the line. The weighted index eased down to 392.96 points. The KSE 15 shed 6.89 points to close at 929.64 points at the session's close.

The bourse marked a 97.90 million share turnover to the value of KD 13.79 million in 2,845 trades. 132 counters remained active with more losers than winners, 31 companies advanced, 64 retreated and 37 companies closed with no change.

Mezzan Holding Co was the top gainer of the day, posting a 9.43 percent rise to KD 1.160 with Automated Systems Company following in close step with a 8.33 percent increase to 325 fils. OSOUL Investment Co closed at 37.5 fils with a 7.14 percent hike even as Yiaco Medical Co pulled off a 6.25 percent rise to 170 fils and Ooredoo closed 5.77 percent higher at KD 1.100.

KAMCO Investment Company took a hard 8.93 percent fall to 102 fils with Kuwait Medical Services Co suffering a 7.81 percent decline to 29.5 fils. IFA Hotels & Resorts Co shifted 5.95 percent below the red line to a 158 fils price and Al-Qurain Holding Co followed with a 5.88 percent decline to 8 fils. Meanwhile, Kuwait Syrian Holding Co tumbled 5.36 percent lower to 26.5 fils.

The Securities House traded the highest volume stock of the session of 9.97 million while Abyaar Real Estate Development Co came in second with 7.3 million shares exchanged and Al Dar National Real Estate Co traded 4.82 million shares. At the same time, Ahli united bank and Kuwait Finance House traded 3.5 million and 3.46 million shares on the floor.

Telecommunications closed 0.60 percent lower at 629.5 points making up 5.56 percent opf the session's total traded volume and 12.8 percent of the total value. Mobile Telecommunications Company -- Zain skid down 5 points to 660 fils while Ooredoo took a 60 points gallop to KD 1.100. Hits Telecom Holding Company, meanwhile, inched 0.5 points down to 30.5 fils as Viva lost 20 points to close at KD 1.060.

The banking sector index was 929.2 points at closing, down 0.07 percent with a significant 457.18 percent rise in volume traded from the previous session and accounting for 42 percent of the total traded value on the floor. National Bank of Kuwait logged no changed in share price at 820 fils while Kuwait Finance House plunged 10 points lower to 570 fils. Kuwait International Bank and Warba Bank eased 2 points lower to 224 fils and 204 fils respectively. Ithmaar Bank dipped 0.5 point lower to 45 fils and Boubyan Bank mounted 5 points to close at 440 fils. Gulf Bank held ground at 275 fils while Burgan Bank dipped 5 points lower for a 385 fils finish. Commercial Bank of Kuwait closed at an inert 500 fils.


Financial Services closed at 633.5 points, 0.88 percent lower in the red, accounting for 28.71 percent of the day's total volume and 10.35 percent value. Securities House edged 0.5 points lower to 48 fils while trading 9.97 million shares on the floor, Kuwait Projects Company dropped 10 points lower to a 580 fils share price while National Industries Group shed 6 points to finish at 134 fils. Al-Madina For Finance And Investment Co and Gulf Finance House skimmed 0.5 points lower to 45.5 fils and 33.5 fils respectively. Alimtiaz Investment Group also lost 2 points off its share price, moving to 78 fils.

The real estate closed at 978.5 points in the red, the shares traded amounted to 32.70 percent of the total volume exchanged. Abyaar Real Estate Development Company closed at a firm 31.5 fils while National Real Estate Company trudged 3 points lower to 95 fils. Meanwhile, Mabanee Co and Kuwait Real Estate Company closed flat at 930 fils and 61 fils respectively. Kuwait Business Town Real Estate on the other hand, sagged 1.5 points down to 44 fils.

The Oil and Gas sector advanced 1.73 percent higher to 783.7 points. Gulf Petroleum Investment slid 2 points lower to 104 fils while Al-Safat Energy Holding crept 0.5 points up to 38.5 fils at closing. Ikarus Petroleum Industries Co stood stale at 196 fils in the session today while Independent Petroleum Group scaled 15 points higher to 460 fils. Injazzat Real Estate Development Co however rolled 3 points higher to stand at 93 fils.

Industrials index stood at 1098 points, 0.67 percent lower than the previous session. Agility Public Warehousing Company shed 10 points to close at 520 fils while Mushrif Trading & Contracting Co scaled 2 points lower to 71 fils. Sharjah Cement And Industrial Development Co and Fujairah Cement Industries Co closed flat at 87 fils and 73 fils respectively. Concurrently, Mubarrad Transport Co closed at 81 fils in the red.

In Basic materials, Qurain Petrochemical Industries Company made a 6 point retreat to 188 fils while Kuwait Foundry Co dipped 2 points lower to 234 fils and Boubyan Petrochemical Company dived down 10 points to 560 fils. In Technology, Hayat Communications Co moved 0.5 points down to 47 fils while Automated Systems Co leaped to 325 fils and Osos Holding Group Company closed flat at 82 fils.

In healthcare, Yiaco Medical Co climbed 10 points higher to 170 fils and in the insurance sector Warba Insurance Company closed flat at 108 fils and Wethaq Takaful Insurance Company slumped 2 points lower to 40 fils.

In consumer goods, Kuwait Food Company (Americana) remained firm at KD 2.260 while Mezzan Holding Co made a staggering 100 point jump to KD 1.160. Danah Al Safat Foodstuff Company cast off 1 point to close at 91 fils while Livestock Transport & Trading Co gained 2 points to close at 138 fils and Kuwait United Poultry Co took a 4 points upswing to 180 fils.

In consumer services, Zima Holding Co stepped 6 points higher to 122 fils while IFA Hotels & Resorts Co dropped 10 points down to 158 fils. Sultan Center Food Products Co closed at 73 fils in the red while Jazeera Airways faced a 5 point tumble to 470 fils.

In bourse related news, IFA Hotels and Resorts Co announced that Capital Markets Authority approved its request to sell 26.9 million shares over a period of 6 months commencing date of approval.

The companies suspended from trading by the KSE include Al Mal Investment Co, Noor Financial Investment Co, Kuwait Bahrain International Exchange Company, Amwal International Investment Co, Al Madar Finance and Investment Co, Al Madar Finance and Investment Co, Amwal International Investment Co and Al Safat Real Estate Co.

© Arab Times 2015