Kuwait Stock Exchange’s Weekly Activity, 29-Oct-2015
The three stock market indicators ended the week in the red zone, as the market could not continue its upward direction that it started few weeks ago, affected by the profit collection operations that many listed stocks were subject to, especially the large-cap stocks which recorded different increases in the past. Also, the stock market was affected by the delay of many listed companies in disclosing its third quarter financial results, especially that only two weeks are left for the given disclosure period, however, most of the listed companies did not announce its results yet, which raised a state of watch and cautious over the investors trading behavior, and negatively affected the market performance.As for the daily trading activity for the market indicators during the last week, the market initiated the first session of the week with different gains for the three indices, as a result to the random purchasing operations that included many stocks of different sectors, of both large-cap and small-cap, in light of an increased trading activity, especially the volume.
Over the next three sessions, the stock market was under the influence of the quick profit collection operations executed on many stocks, which pushed its indicators to record a grouped losses in the three consecutive sessions, before it closes mixed in the last session of the week, whereas the Price Index was able to realize slight gain by the end of the session, benefiting from the return of the purchasing operations on some small-cap stocks, to lighten its weekly losses somehow, whilst the Weighted and KSX15 indices continued its losses for the fourth consecutive session, which enlarged its weekly loss.
Moreover, the market cap for KSE reached by the end of last week K.D. 25.76 billion, decreasing by 0.41% compared to its level in a week ago, which was K.D. 25.86 billion. However on the annual level, the market cap for the listed companies in KSE declined by 7.94% from its value at end of 2014, whereas it reached then K.D. 27.98 billion.
As far as KSE annual performance, the Price Index ended last week recording 11.63% annual loss compared to its closing in 2014, while the Weighted Index decreased by 11.51%, and the KSX-15 contracted by 12.80%.
Sectors’ Indices
Three of KSE’s sectors ended last week in the green zone, while nine recorded declines. The Real Estate sector headed the gainers list as its index grew by 1.30% to end the week’s activity at 968.58 points, followed by the Consumer Goods sector, as its index recorded a weekly increase of 1.17% closing at 1,100.40 point. The Health Care sector came in third place, as its index increased by 0.16%, closing at 948.58points.
On the other hand, the Oil and Gas sector headed the losers list last week, as its index declined by 1.41% closing at 781.81 point, while the Industrial sector came in the second place after closing the week at 1,079.42 point and losing 0.98%, followed by Basic Materials sector in the third place after closing the week at 1,016.59 point, and losing 0.83%.The Banks sector was the least declined during last week, as its index recorded a weekly loss of 0.10%, closing at 933.88 point.
Sectors’ Activity
The Real Estate sector dominated a total trade volume of around 273.27 million shares changing hands during last week, representing 35.01% of the total market trading volume. The Financial Services sector was second in terms of trading volume as the sector’s traded shares were 22.44% of last week’s total trading volume, with a total of around 175.14 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 15.35 million or 26.18% of last week’s total market trading value. The Real Estate sector took the second place as the sector’s last week turnover was approx. K.D 12.53 million representing 21.36% of the total market trading value.