Kuwait Stock Exchange’s Weekly Activity, 13-Aug-2015

Kuwait Stock Exchange (KSE) ended last week with mixed performance. The Price Index closed at 6,301.12 points, up by 0.83% from the week before closing, the Weighted Index increased by 0.25% after closing at 418.07 points, whereas the KSX-15 Index closed at 1,002.21 points down by 0.59%. Furthermore, last week’s average daily turnover increased by 11.10%, compared to the preceding week, reaching K.D 11.85 million, whereas trading volume average was 132.56 million shares, recording a increase of 18.26 %.

The stock market indicators’ performance was mixed last week as a result to the traders’ different views, whereas the Price Index was able to realize good gains to compensate its losses of the week before, as it received noticeable support from the quick speculations operations that included a wide ray of small-cap stocks and some idle stocks in the market; also the Weighted Index was able to increase supported by the random purchasing operations that concentrated on some leading and operational stocks, especially in the Consumer Services and Telecommunication sectors, the highest two sectors among the profitable sectors for last week. On the contrary, KSX-15 Index was affected by the continued profit collection operations executed on some heavy stocks, such as the Technology sector and a number of Banks stocks, which stopped it from following the other two indices and pushed it to end the week in the red zone.In addition, the stock market initiated the week with good gains for the three indices, among a strong purchasing trend included many stocks of different sectors, in light of the increased liquidity, whilst it witnessed in the second session a varied performance for the closing of the three indices, as the Price Index and the Weighted Index continued realizing gains in light the continued quick speculations’ control over many stocks performance of small-cap and some leading stocks, while KSX-15 index declined as a result to the profit collection operations executed on some heavy operational stocks.

On Tuesday’s session, the stock market indicators continued its mixed performance with changing positions, as the Price Index fell under the influence of the profit collection operations that concentrated on the small-cap stocks, which push it to end the session with limited loss, however the strong purchasing operations executed on some leading stocks enabled the Weighted and KSX-15 indices to end the session in the green zone. On Wednesday’s session, the three indicators returned to the loss area, as the stock market witnessed a strong profit collection trend caused many stocks’ prices to drop, both the leading and small-cap stocks. On Thursday’s session, the stock market witnessed a mixed closing for the three indices, whereas the Price Index as able to increase supported by the purchasing operations and the speculations executed on the small-cap stocks, which enhanced its weekly position, whilst the continued profit collection operations on the large-cap stocks pushed the Weighted and KSX-15 indices to end the session in the red zone, which contributed to shrink the Weighted Index profits on the weekly level, and KSX-15 Index to close below its closing level in a week earlier.

On the other hand, the KSE market cap reached by the end of last week K.D. 27.81 billion, increasing by 0.04% compared to its level in a week before, which was K.D. 27.80 billion. However on the annual level, the listed companies market cap decreased during last week to 0.59% compared with 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 3.59% annual loss compared to its closing in 2014, while the Weighted Index decreased by 4.74%, and the KSX-15 recorded 5.45% loss.

By the end of the week, the number of listed companies that disclosed its first half 2015 results reached 154 company, or 80% of the total number of 192 listed companies in the official market, taking into consideration the limited number of companies with different year end; also the disclosed companies’ realized around K.D. 923 million for the six months 2015 period, increasing by 7.53% from the results of the same companies for the same period of year 2014, as it reached then K.D. 858 million. The number of companies that recorded growth in its earning per share reached 82 company, while 70 company declined, and 27 company recorded losses for the first half period of the current year.