Kuwait Stock Exchange (KSE) ended last week in the green zone. The Price Index closed at 5,284.87 points, up by 0.78% from the week before closing, the Weighted Index increased by 1.50% after closing at 367.53 points, whereas the KSX-15 Index closed at 871.70 points up by 2.00%. Furthermore, last week’s average daily turnover increased by 15.20%, compared to the preceding week, reaching K.D 13.66 million, whereas trading volume average was 198.68 million shares, recording an increase of 27.67%.
As for the Kuwait Stock Exchange’s daily performance during the last week, the stock market initiated the first session of the week recording good growth to its three indicators, supported by the active purchasing activities executed on a mix of small-cap and operational stocks, in light of an increased trading activity whereas the session witnessed the largest trading volume since approximately more than nine months, to reach 288,241,621 traded stock; the cash liquidity also increased significantly by 66.05% compared to the last week’s end session, supported by some positive factors headed by the increased oil prices and the 2015 annual results for the listed companies.
On the second session of the week, the market witnessed mixed closing for the three indices, as the Price Index declined due to the selling for profit operations executed on the stocks that previously increased, while the Weighted and KSX-15 indices were able to realize limited increase by the end of the session supported by the random purchasing operations witnessed by the leading stocks. On the mid of week session, the three stock indicators were able to realize gains, supported by the speculative operations on the low priced stocks and the random purchasing operations executed on some leading stocks which caused it to compensate its previous session losses, in light of a declined trading activity, especially the volume.
Also, on Wednesday’s session, the three stock indicators returned to fluctuate and closed mixed, as the Price Index decreased slightly as a result to the selling for profit operations of stocks that realized previous increases, in a correction move and reestablishment of new financial positions at new price levels, while the Weighted and KSX-15 indices were able to realize limited gains by the end of the session, supported by the random purchasing operations witnessed by some leading stocks in the market, amid a declined volume and limited increase in the value.
Moreover, the three market indicators were able to hold in the end of week session to close in the green zone and realize different gains, whereas the Price Index was able to compensate its previous session’s losses, supported by the random purchasing operations executed on the low-priced stocks, while the Weighted and KSX-15 indices’ performance improved, supported by the limited purchasing operations executed on the operational stocks.
By the end of last week, the number of the listed companies that disclosed its 2015 financial results reached around 98 company, representing 52.13% of the188 listed companies in the official market, whereas it realized around K.D. 1.35 billion in profit, or 4.95% compared to the same companies results for 2014. On the other hand, the market capitalization for KSE reached by the end of last week K.D. 24.36 billion, increasing by 1.59% compared to its level in a week earlier, where it was K.D. 23.98 billion. On an annual level, the market cap for the listed companies in KSE declined by 3.58% from its value at end of 2015, where it was K.D. 25.27 billion.
As far as KSE annual performance, the price index ended last week recording 5.88% annual loss compared to its closing in 2015, while the weighted index decreased by 3.71%, and the KSX-15 recorded 3.19% loss.
Sectors’ Indices
Eight of KSE’s sectors ended last week in the green zone, while the other four recorded declines. Last week’s highest gainer was the Telecommunication sector, achieving 3.28% growth rate as its index closed at 633.04 points. Whereas, in the second place, the Financial Services sector’s index closed at 575.09 points or 2.56% increase. The Consumer Goods sector came in third as its index achieved 2.55% growth, ending the week at 1,096.61 points.
On the other hand, the Technology sector headed the losers list as its index declined by 3.91% to end the week’s activity at 880.06 points. The Oil & Gas sector was second on the losers’ list, which index declined by 1.46%, closing at 745.31 points, the least declining sector was the Insurance sector, as its index closed at 1,044.06 points at a loss of 0.67%.
Sectors’ Activity
The Financial Services sector dominated a total trade volume of around 389.28 million shares changing hands during last week, representing 39.19% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 27.08% of last week’s total trading volume, with a total of around 269.01 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 19.86 million or 29.08% of last week’s total market trading value. The Financial Services sector took the second place as the sector’s last week turnover was approx. K.D 17.83 million representing 26.11% of the total market trading value.