KUWAIT CITY, Dec 1

Kuwait stocks rallied to 5,803.34 points, 0.02 percent higher with a slight 0.98 point rise above the red line, logging a 11.21 percent decline, year to date. The weighted index stood at 392.07points, down by 0.89 points mid week.

The KSE benchmark ebbed 1.05 points lower to close at 928.59 points. A total volume of 109.89 million shares were traded for a total value of KD 7.87 million in 2,814 transactions. 130 counters remained active on the trading floor, of these 35 posted gains while 47 retreated and 48 noted no change.

Kuwait Cable Vision marked the biggest leap, increasing 10 percent in share price to 27.5 fils while Gulf Petroleum Investment closed at 58 fils with a 9.43 percent augment and trading a robust 9.27 million shares. Automated Systems Company made its way to the list of top gainers with a 7.69 percent jump in price to 350 fils while Mashaer Holding Co scaled 7.55 percent upwards to 114 fils. GFH Financial Group, for its part, traced 7.46 percent higher to a 36 fils close while trading the highest volumes of 11.12 million shares on the floor.

On the other hand, Kuwait Real Estate Holding Company plummeted to 22 fils a piece, dropping 10.2 percent in share price from the previous session. Mezzan Holding Co took a 6.9 percent downturn to KD 1.080 and Yiaco Medical Co followed closely behind with a 5.88 percent reduction to 160 fils. Meanwhile, Tameer real estate investment co shed 5.66 percent of its price to close at 25 fils with Kuwait Finance & Investment Company marking a 3.7 percent slump to 40 fils.

Telecommunications stood at 625.86 points, sagging 3.65 points lower into the red with a 51.55 percent drop in volume and 38.50 percent decline in value from Monday. Mobile Telecommunications Company -- Zain stood firm at 360 fils while Ooredoo suffered a hard 40 points fall to KD 1.060. At the same time, VIVA logged no change in share price at the day's close at KD 1.060 and Hits Telecom Holding Company also closed flat at 30.5 fils, trading a volume of 1.13 million shares on the floor.

The banking sector closed at 929.8 points, 0.06 percent higher than the previous session, accounting for 9.54 percent of the total traded volume and 15.76 percent of the total value in the market today. National Bank of Kuwait held ground at 820 file while Ithmaar Bank crept 1.5 points up to 48 fils, trading over 8 million shares in the session.

Warba Bank and Kuwait Finance House closed flat at 204 fils and 570 fils respectively. Boubyan Bank and Gulf Bank dipped 5 points lower to 435 fils and 270 fils respectively. At the same time, Kuwait International Bank moved 2 points higher to 226 fils while Burgan Bank stagnated at 385 fils.

Financial Services made up 39.97 percent of the total volume traded in the market and 28.51 percent of the total value while closing at 634.4 points, 0.15 percent in the green. Gulf Finance House moved 2.5 points upward to 36 fils while Kuwait Projects Company finished at a steadfast 580 fils with.

Scrambled

The Securities House easing 1 point lower to 47 fils. Al-Madina For Finance And Investment Co closed flat at 45.5 fils as the Housing Finance Company scrambled 0.5 point higher to 33 fils. National Industries Group, in the meantime, took a 4 point hike to close at 138 fils.

Real Estate registered a 0.44 percent decrease to 974.2 points making up 27.79 percent of the total market volume and 16.24 percent of the total value.

National Real Estate Company endured a 2 point cut, closing at 93 fils.

Investors Holding Group Company edged 2 points lower to 29.5 fils while Sanam Real Estate Co climbed 0.5 points to 46.5 fils and Al Dar National Real Estate Co slipped to 29 fils in the red with Al Mudon International Real Estate Company closing 0.5 points lower at 35 fils.

In the oil and gas sector Gulf Petroleum Investment scaled 5 points higher to 58 fils after 9.27 million shares exchanged while Al-Safat Energy Holding closed flat at 14 fils and Independent Petroleum Group dropped 10 points to a 238 fils share price. Ikarus Petroleum Industries Co and The Energy House Holding Company closed flat at 89 fils and 44 fils respectively.

Industrials closed at 1,075.7 points, up by 0.29 percent. Agility Public Warehousing Company held ground at 520 fils while Fujairah Cement Industries Co closed at 73 fils after trading 2 million shares recording no change in price from the previous session. Mubarrad Transport Co clambered 1 point upwards to 72 fils.

In Technology, Hayat Communications Co climbed 1 point to 48 fils while Automated Systems Co leaped to 350 fils with a 25 point boost and Osos Holding Group Company closed flat at 82 fils.

In basic materials, Qurain Petrochemical Industries Company lifted 2 points in the green to 190 fils and Boubyan Petrochemical Company closed at a stagnant 560.

In consumer goods, Mezzan Holding Co crashed 80 points down to KD 1.080 and Danah Al Safat Foodstuff Company moved 1 point upwards to 92 fils while Kuwait Food Company (Americana) closed flat at KD 2.260. In consumer services, Zima Holding eased 2 points lower to 120 fils even as Jazeera Airways Co closed at 440 fils.

In insurance, Wethaq Takaful Insurance Company inched 0.5 points lower to 39.5 fils as Gulf Insurance Group ended the session at a stale 750 fils. Warba Insurance Company made a 2 point retreat to 106 fils.

In bourse related news, Kuwait Stock Exchange conducted its scheduled review of the Kuwait 15 Index ("KSX 15") at the end of November 2015. Accordingly Kuwait International Bank (K.S.C.P.), National Industries Group Holding (KPSC) and Warba Bank (K.S.C.P.) will be removed from the Index, to be replaced by Al Ahli Bank of Kuwait (K.S.C.P.), Mezzan Holding Co. (K.S.C.P.) and Boubyan Petrochemical Company (K.S.C.P.).

Further, The Commercial Real Estate Co. (KPSC) and Kuwait National Cinema Company (K.S.C.P.) will be removed from reserve list to be replaced by Kuwait International Bank (K.S.C.P.) and Warba Bank (K.S.C.P.) (which were in the index) while keeping Jazeera Airways Company (K.S.C.P.) within the reserve list. These changes to KSX 15 resulting from the review will be implemented after the market close on Dec 17.

© Arab Times 2015