08 August, 2015

Kuwait bourse ends week on strong note

KUWAIT CITY: Kuwait stocks headed north on Thursday to end the week on a strong note. The bourse rose 10.85 pts in choppy trade to 6,249.34 points extending the gains to third consecutive session. Some of mid and small caps shone whereas the blue chips closed mixed.

08 August 2015
Humansoft Holding Co soars 100 fils; KFH flat
KUWAIT CITY: Kuwait stocks headed north on Thursday to end the week on a strong note. The bourse rose 10.85 pts in choppy trade to 6,249.34 points extending the gains to third consecutive session. Some of mid and small caps shone whereas the blue chips closed mixed.

The KSX 15 benchmark fell 2.99 points to 1,008.12 pts taking the month's losses to 53 points while weighted index inched 0.89 points up. The volume turnover meanwhile slumped below the 100 million mark as investors remained wary of the market direction. 99.95 million shares changed hands -- a 28.5 pct drop from Wednesday. The sectors closed mixed during the session. Technology outshone the rest with 3.21 pct gain whereas telecommunications shed 0.94 percent, the biggest loser of the day.

In terms of volume, real estate clocked the highest market share of 49.70 percent while financial services followed with 29.5 pct contribution. In the individual shares, Humansoft Holding Co vaulted 100 fils to KD 1.100 and Automated Systems Co climbed 20 fils to KD 0.400. Nafais Holding Co added 10 fils on back of 1.6 million shares and Educational Holding Group followed suit to end at KD 0.224. Bourse heavyweight Zain was flat at KD 0.405 off early highs and saw a volume of over 1 million whereas Wataniya Telecom plunged 40 fils after posting modest gains in the day before. Kuwait Telecommunications Co (VIVA) gave up 10 fils and Agility added 10 fils to close at KD 0.660. National Bank of Kuwait was unchanged at KD 0.850 off earlier lows and Kuwait Finance House too did not budge from its last session close of KD 0.630.

The bank has logged a net profit of KD 62.3 million in the first half of 2015, a 14.1 percent increase from KD 54.6 million over the same period of the previous year. Earning per share stood at 13.30 fils as compared to 11.64 fils for corresponding period of 2014. The market opened firm and pulled higher in early trade. The price index swung higher amid buying in select counters and peaked at 6,264.57 points almost. It retreated briefly to trough at 6,238.26 pts and moved range bound in the second half before closing with modest gains. Top gainer of the day, Humansoft Holding vaulted 10 percent to KD 1.100 and Nafais Holding climbed over 8 percent to stand next. Kuwait Syrian Holding Co slid 6.25 percent, the steepest decliner of the day and Al Dar National Real Estate Co topped the volume with 27.8 million shares.

Despite the day's gains, the losers outnumbered the winners. 37 stocks advanced whereas 49 closed flat. Of the 133 counters active on Thursday, 47 closed flat. 2,774 deals worth KD 8.88 million were transacted -- a 26.42 pct drop in value from Wednesday. National Industries Group was flat at KD 0.172 and Kuwait Cement Co added 5 fils to wind up at KD 0.165. Gulf Cable gave up 5 fils and Kuwait Portland Cement shed 20 fils to settle at KD 1.140. Kuwait Foundry Co held steady at KD 0.248 and NICBM followed suit.

Gains

Kuwait Food Co (Americana) tumbled 80 fils to KD 2.780 after posting modest gains in the day before and Al Nawadi Holding added 8 fils. The company has posted a profit of KD 1,007,657 in the six-months period ending June 30, 2015 and profit per share of 5.54 fils. ALAFCO was flat at KD 0.226 and Jazeera Airways Group has posted a 27.1 pct year-on-year surge in H1 net profit to KD 6.2 million while second quarter net profit reached KD 3.2 million -- an increase of 14.2% from the same period last year. Operating revenues rose 0.8 percent y-o-y to KD 26.6 million.

Equipment Holding Co inched 1 fil up to 79 fils and Qurain Petrochemical Industries Co closed 4 fils higher. Salbookh Trading Co fell 3 fils to 94 fils and Safwan Trading and Contracting Co dialed down 5 fils. IFA Hotels and Resorts dropped 10 fils to KD 0.190. Mashaer Holding Co took in 2 fils whereas Mezzan Holding Co closed flat. The company has logged a net profit of KD 12.49 million and earnings per share of 42.13 fils in the January- June period of 2015, surging from net profit of KD 7.53 million and earnings per share of 25.41 fils in 2014, H1.

Zima Holding clipped 2 fils and Kout Food Group paused at KD 0.680. Kuwait and Gulf Link Transport Co was steady at 55 fils and KGL Logistics Co followed suit. In the banking sector, Commercial Bank of Kuwait shed 20 fils while Gulf Bank was flat at KD 0.275. Al Ahli Bank added 5 fils to settle at KD 0.365. Ahli United Bank dropped 10 fils and Kuwait International was flat at KD 0.240. Burgan Bank paused at KD 0.415 while Boubyan Bank closed 5 fils higher. Kuwait Investment Co dialed down 2 fils whereas National Investment Co and KIPCO closed flat. Securities House and Aayan Leasing and Investment Co gave up 2 fils each whereas Osoul Investment Co closed flat.

Al Deera Holding inched 1 fil higher and Sokouk Holding followed suit. National Real Estate Co took in 2 fils whereas Mabanee Co dropped 10 fils to KD 0.970. Al Mazaya Holding was up 4 fils at KD 0.166. The bourse has been mixed during the week. It closed higher in three of the five sessions but retreated 4 points week-on-week. The price index had climbed 52 points during whole of July and is trading 4.38 pct lower year-todate. KSE, with 213 listed companies, is the second largest bourse in the region. In the bourse related news, City Group Company has posted a net profit of KD 3.56 million and earnings per share of 31.51 fils in the January-June period of 2015 as against net profit of KD 2,85 million and earnings per share of 25.29 fils in the same period last year. Manazel Holding Co. has clocked a first half net profit of KD 358,821 and earnings per share of 0.50 fils, down from net profit of year KD 1,681,196 and earnings per share of 2.35 fils in H1, 2014. Kuwait Real Estate Holding Co has logged a first half net profit of KD 18,318 and earnings per share of 0.1 fils rebounding from net loss of KD 358,153 and loss per share of 1.90 fils in the same period last year. Ikarus Petrolem Industries Co has recorded a net profit of over KD 4 million and earnings per share of 5.13 fils in the six-month period ending June 30, 2015 as compared to net profit of KD 8.83 million and earnings per share of 11.30 fils in the 2014, H1.

Gulf Insurance Group has recorded a net profit of KD 7.48 million and earnings per share of 41.75 fils in the first half, up from net profit of KD 6.06 million and earnings per share of 33.35 fils in the same period last year.

© Arab Times 2015