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KSE ends 1st trading week in June with mixed results -- report

June 8, 2014



KUWAIT, June 7 (KUNA) -- Kuwait Stock Exchange (KSE) ended last week with mixed performance as the Price Index closed at 7,337.37 points, up by 0.63% from the week before closing, the Weighted Index decreased by 0.18 % after closing at 492.21 points, whereas the KSX-15 Index closed at 1,203.86 points down by 0.40%, said a report issued on Saturday by Bayan Investment Co.

Last week's average daily turnover increased by 13.40%, compared to the preceding week, reaching K.D 23.97 million, whereas trading volume average was 143.06 million shares, recording a decrease of 4.15%.

The stock market indicators started the week with mixed performance, as the Price Index realized good gains due to the purchasing and collection operations that were performed on a number of small-cap stocks, whilst the Weighted Index and KSX-15 Index declined as a result of the profit collection operations executed on some large-cap stocks, especially stocks of previous price increases, said the report. In addition, all the stock indicators were able to increase in the next session; the Price Index in particular, which benefited from the continued small-cap stocks' activity, in and the random trades witnessed by some blue-chip stocks, among a noticeable increase in the activity level, whereas the traded stocks volume grew by 38.87% by the end of the same session.

Moreover, during the mid week session, the stock market performance returned to vary once again, in light of the steep decline in liquidity levels which dropped by 41.97%, whereas the Price Index recorded limited decrease affected by the profit collection operations executed on many stocks of previous gains, while the Weighted and KSX-15 indices were able to realize slight increases due to the continued purchasing and collection operations on some operational stocks, said the report. Furthermore, none of the market indicators succeeded in recording gains by the end of the week, as all declined affected by the selling pressures that included most of the traded stocks, to end the market weekly trading with mixed performance.

For the annual performance, the price index ended last week recording 2.81% annual loss compared to its closing in 2013, while the weighted index increased by 8.69%, and the KSX-15 recorded 12.68% growth.

Seven of KSE's sectors ended last week in the green zone, while the other Five recorded declines. Last week's highest gainer was the Technology sector, achieving 3.49% growth rate as its index closed at 986.84 points. Whereas, in the second place, the Insurance sector's index closed at 1,199.91 points recording 2.44% increase. The Oil & Gas sector came in third as its index achieved 1.59% growth, ending the week at 1,222.24 points. On the other hand, the Telecommunications sector headed the losers list as its index declined by 0.89% to end the week's activity at 798.45 points. The Health Care sector was second on the losers' list, which index declined by 0.83%, closing at 1,096.10 points, followed by the Consumer Services sector, as its index closed at 1,163.76 points at a loss of 0.80%.

The Financial services sector dominated total trade volume during last week with 303.19 million shares changing hands, representing 42.39% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector's traded shares were 26.57% of last week's total trading volume, with a total of 190.02 million shares. Meanwhile, the Banking sector's stocks were the highest traded in terms of value; with a turnover of K.D 50.71 million or 42.31% of last week's total market trading value. The Financial services sector took the second place as the sector's last week turnover was K.D 22.41 million represented 18.69% of the total market trading value, said the report. (end) mka.ajs

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Source: Kuwait News Agency


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