Boursa Kuwait ended last week with mixed performance. The Premier Market Index closed at 5,345.74 points, down by 0.32%, the Main Market Index increased by 0.11% after closing at 4,762.03 points, and the All-Share Index closed at 5,138.52 points down by 0.18%. Furthermore, last week’s average daily turnover decreased by 59.34%, compared to the preceding week, reaching around K.D 20.81 million, whereas trading volume average was about 104.18 million shares, recording a decrease of 35.16%.
The Premier Market Index and the All-Share Index declined last week affected by the strong selling pressures executed on many listed stocks in the Boursa, headed by the leading and operational stocks listed in the Premier Market, while the Main Market Index was able to record limited weekly gains supported by the random purchasing operations executed on some small-cap and mid-cap stocks. Also, the Market performance of last week came in parallel with the noticeable decrease in the trading indicators compared to the previous week ( where it witnessed extra ordinary and large increases in the trading activity), especially in the total traded cash liquidity that reached by the end of the week K.D. 00 million, down by 00%, compared to the total liquidity in a the earlier week, where it was K.D. 00 million.
In addition, the overall performance of the Market during the last week took a selling trend, as many traders tended towards profit collections, and the selling operations concentrated on the leading companies’ stocks, especially the ones that joined FTSE Russel Index lately, whereas after the positive performance and the noticeable increases witnessed by such stocks during the previous period, that came in parallel with the optimism state that was present in the Market after promoting the Boursa to the emerging markets; some sessions last week witnessed strong profit collection operations executed on such stocks which contributed into its decrease to a great extent, especially on the first session of last week, which witnessed a drop in the three Boursa indices, especially the Premier Market Index that recorded in the same session its highest decrease since its launch with the application of the new market segmentation phase last April.
Moreover, the market capitalization of the Boursa recorded a weekly loss of K.D. 48.95 million, as it reached by the end of last week around K.D. 28.75 billion, down by 0.17% of its level in the previous week, where it was K.D. 28.80 billion. The market cap gains since the application of the new market segmentation reached around K.D. 897.47 million, or 3.22%. (Note: The market capitalization of 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).
Last week witnessed trading over 151 stock out of 175 listed stock in the Market, where prices of 56 stock increased against prices of 80 stock decreased, and prices of 39 stock remained at no change.
Sectors’ Indices
Nine of Boursa Kuwait’s sectors ended last week in the red zone, while the other three recorded increases. Last week’s highest loser was the Technology sector, as its index declined by 8.59% to end the week’s activity at 851.18 points, The Health Care sector was second on the losers’ list, which index declined by 1.01%, closing at 985.51 points, followed by the Industrial sector, which index declined by 0.98%, closing at 981.76 points.
On the other hand, Last week’s highest gainer was the Oil & Gas sector, achieving 3.16% growth rate as its index closed at 1,134.70 points. The Basic Materials sector came in the second place, as its index closed at 1,170.03 points recording 1.84% increase, followed by Real estate sector, achieving 0.11% growth rate as its index closed at 893.60 points.
Sectors’ Activity
The Real Estate sector dominated a total trade volume of around 193.60 million shares changing hands during last week, representing 37.17% of the total market trading volume. The Banks sector was second in terms of trading volume as the sector’s traded shares were 29.88% of last week’s total trading volume, with a total of around 155.64 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 60.21 million or 57.86% 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 11.65 million representing 11.19% of the total market trading value.