Kuwait Stock Exchange (KSE) ended last week in the green zone. The Price Index closed at 6,323.84 points, up by 0.14% from the week before closing, the Weighted Index increased by 0.71% after closing at 423.97 points, whereas the KSX-15 Index closed at 1,023.69 points up by 1.22%. Furthermore, last week’s average daily turnover increased by 13.38%, compared to the preceding week, reaching K.D 18.91 million, whereas trading volume average was 223.06 million shares, recording an increase of 6.88%.
The stock market indicators were able to realize gain and end the week’s trading in the green zone, among an increased trading activity compared to the previous week, as such was supported by the return of the random purchasing operations on the large-cap and blue-chip stocks, in addition to the quick speculations and the purchasing power that included some small-cap and mid-cap stocks.
As for the daily trading activity; the stock market ended the first session’s trading activities with mixed closings to its three indices among a limited drop in the liquidity levels, whereas the speculations and the profit collection operations over controlled many small-cap stocks, which negatively reflected on the Price Index performance that declined by the end of the session and closed below 6,300 point level; on the contrary, the Weighted and KSX-15 indices were able to increase supported by the random purchasing operations executed on some large-cap stocks. The stock market performed in the same manner in the next session, as the Price Index decline and the other two indices increase continued, in light of an increased trading activity compared to the previous session.
However, on the mid-week session, the stock market was able to realize a grouped increase for the three indices, supported by the active purchasing operations executed on the large-cap stocks, in addition to the positive speculations that included some small-cap stocks, and the random purchasing operations executed on some previously declined stocks, which made it tempting investment opportunities.
Moreover, the stock market continued its upward direction, and was able to realize gains for the three indices on Wednesday’s session, due to the continued purchasing power in controlling the trading activity, among a limited increase in the liquidity levels. On the end of week session, the stock market returned to fluctuate, whereas the Weighted and KSX-15 indices were not able to increase, and returned to the red zone as a result to the profit collection operations executed on some large-cap stocks, whilst the Price Index continued its positive performance that enabled it to compensate its weekly losses, to end the weekly trading in the green zone.
Furthermore, KSE market cap reached K.D. 27.96 billion by the end of last week, with a growth of 0.90% compared to its level in the previous week, whereas it reached K.D. 27.71 billion. On an annual level, the listed companies’ cap declined by 0.07% from its value at end of 2014, where it reached then K.D. 27.98 billion.
As far as KSE annual performance, the price index ended last week recording 3.24% annual loss compared to its closing in 2014, while the weighted index decreased by 3.40%, and the KSX-15 recorded 3.42% loss.
Sectors’ Indices
Seven of KSE’s sectors ended last week in the green zone, while the other Five recorded declines. Last week’s highest gainer was the Consumer Goods sector, achieving 1.75% growth rate as its index closed at 1,219.69 points. Whereas, in the second place, the Consumer Services sector’s index closed at 1,024.94 points recording 0.84% increase. The Basic Materials sector came in third as its index achieved 0.80% growth, ending the week at 1,102.84 points.
On the other hand, the Oil & Gas sector headed the losers list as its index declined by 2.57% to end the week’s activity at 941.58 points. The Technology sector was second on the losers’ list, which index declined by 1.07%, closing at 924.83 points, followed by the Banks sector, as its index closed at 981.66 points at a loss of 0.42%.
Sectors’ Activity
The Financial Services sector dominated a total trade volume of around 452.05 million shares changing hands during last week, representing 40.53% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 35.86% of last week’s total trading volume, with a total of around 399.90 million shares.
On the other hand, the Financial Services sector’s stocks were the highest traded in terms of value; with a turnover of around K.D 27.45 million or 29.03% of last week’s total market trading value. The Banks sector took the second place as the sector’s last week turnover was approx. K.D 22.87 million representing 24.19% of the total market trading value.