Boursa Kuwait ended last week in the red zone. The Premier Market Index closed at 5,349.33 points, down by 0.54%, the Main Market Index decreased by 0.06% after closing at 4,946.19 points, and the All-Share Index closed at 5,206.07 points down by 0.38%. Furthermore, last week’s average daily turnover increased by 4.19%, compared to the preceding week, reaching around K.D 22.03 million, whereas trading volume average was about 96.20 million shares, recording an increase of 4.94%.
The Boursa was subject to different selling pressures during the last week caused its three indices to record a limited decline compared to previous periods where losses were relatively high, and the profit collection operations concentrated on some stocks that witnessed some increases lately, especially stocks of the Premier Market which are still leading the Boursa train since the market segmentation to date, amid control of such stocks over the lion portion of the cash liquidity pumped into the Market, whereas the Premier Market trading value during the last five sessions reached around K.D. 92 million, or over 80% of the total market liquidity during the last week, which reached about K.D. 110 million.
Boursa Kuwait recorded a weekly loss of over K.D. 82 million, as its market cap reached by the end of last week to K.D. 28.70 billion against K.D. 28.79 billion in the previous week, down by 0.29%. The Boursa gains contracted since the beginning of the market segmentation to reach K.D. 847.72 billion with a growth of 3.04%. (Note: The market cap for the listed companies in the Market is calculated based on the weighted average number of outstanding shares as per the latest available official financial statements).
On the other hand, Boursa Kuwait is currently witnessing a general state of watch and waiting for the listed companies results of the first half of 2018, especially that most of the listed companies did not disclose its results yet. By the end of last week, the number of companies that disclosed its fiscal results for the first half period reached 77 company out of 175 listed company in the Market, including the companies with different year end. The total announced net profits for the first half of the current year reached K.D. 847.69 million, up by 8.92% compared to the same companies results for the same period of 2017 which was K.D. 778.28 million approximately.
Last week witnessed trading over 148 stock out of 175 listed stock in the Market, where prices of 67 stock increased against prices of 72 stock decreased, and prices of 36 stock remained at no change.
Sectors’ Indices
Eight of Boursa Kuwait’s sectors ended last week in the red zone, and four recorded increases. Last week’s highest loser was the Consumer Goods sector, as its index declined by 1.50% to end the week’s activity at 882.74 points, The Telecommunications sector was second on the losers’ list, which index declined by 1.03%, closing at 941.97 points, followed by the Banks sector, which index declined by 0.79%, closing at 1,085.74 points.
On the other hand, last week’s highest gainer was the Technology sector, achieving 6.98% growth rate as its index closed at 1,003.95 points. The Oil & Gas sector came in the second place, as its index closed at 1,079.89 points recording 1.90% increase, followed by Industrial sector, achieving 1.46% growth rate as its index closed at 1,024.03 points.
Sectors’ Activity
The Banks sector dominated a total trade volume of around 209.40 million shares changing hands during last week, representing 43.53% of the total market trading volume. The Financial Services sector was second in terms of trading volume as the sector’s traded shares were 19.58% of last week’s total trading volume, with a total of around 94.18 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 68.76 million or 62.43% of last week’s total market trading value. The Industrial sector took the second place as the sector’s last week turnover was approx. K.D 16.50 million representing 14.98% of the total market trading value.