Kuwait Stock Exchange’s Weekly Activity, 13-Oct-2015
The stock market performance was relatively quiet and its indices closed mixed by the end of last week, whereas the Price and Weighted Indices were able to continue its positive performance and realize gains as a result to purchasing power that concentrated on the small-cap and heavy stocks, whilst the KSX-15 index went against the current and ended the week’s trading with limited losses affected by the profit collection operations executed on the large-cap stocks; noting that the trading period this week was limited to three days due to the Islamic New Year holiday.Getting back to KSE weekly activity, the market initiated its first session of the week with grouped gains for the three indices, especially the Price Index which grew by 19.63 point, to close at 5,728.38 point level, supported by the active purchasing power on the small-cap and leading stocks, among a decreased trading activity especially the volume which declined by 29.06%.
Also, the market continued its upward direction in the second session of the week, to close in the green zone for the three indices, in light of the continued speculative purchasing activity that included many small-cap stocks and the random purchasing operations executed on some leading stocks, which pushed the liquidity levels to increase by 20.20% or about K.D. 1.99 million compared to the previous session.
The stock market ended the last session of the week in the red zone on Tuesday’s session, affected by the selling operations executed on most of the previously traded stocks over the week, among a relative stability in the liquidity levels and declined traded volume by 6.18%.
On the other hand, the market cap for KSE reached by the end of last week K.D. 25.67 billion, up by 0.11% from its level in a week earlier, which was around K.D. 25.64 billion. However on an annual level, the market cap for KSE listed companies recoded a decline of 8.25% compared to its level in 2014, where it reached then K.D. 27.98 billion.
As far as KSE annual performance, the Price Index ended last week recording 12.31% annual loss compared to its closing in 2014, while the Weighted Index decreased by 11.78%, and the KSX-15 contracted by 12.87%.
Sectors’ Indices
Eight of KSE’s sectors ended last week in the green zone, and four recorded declines. Last week’s highest gainer was the Telecommunications sector, achieving 1.34% growth rate as its index closed at 572.50 points. Whereas, in the second place, the Real Estate sector’s index closed at 941.74 points recording 1.21% increase. The Financial Services sector came in third as its index achieved 0.96% growth, ending the week at 648.88 points.
On the other hand, the Insurance sector headed the losers list as its index declined by 2.11% to end the week’s activity at 1,059.63 points. The Technology sector was second on the losers’ list, which index declined by 0.50%, closing at 892.87 points, followed by the Banks sector, as its index closed at 929.08 points at a loss of 0.45%. The Consumer Goods sector was the least declined during last week, as its index recorded a weekly loss of 0.24%, closing at 1,069.85 point.
Sectors’ Activity
The Real Estate sector dominated a total trade volume of around 117.41 million shares changing hands during last week, representing 30.81% of the total market trading volume. The Financial Services sector was second in terms of trading volume as the sector’s traded shares were 20.23% of last week’s total trading volume, with a total of around 77.09 million shares.
On the other hand, the Banks sector’s stocks were the highest traded in terms of value; with a turnover of around K.D 9.64 million or 27.76% of last week’s total market trading value. The Telecommunications sector took the second place as the sector’s last week turnover was approx. K.D 7.08 million representing 20.40% of the total market trading value.