Kuwait Stock Exchange (KSE) ended last week in the green zone. The Price Index closed at 5,174.69 points, up by 0.66% from the week before closing, the Weighted Index increased by 1.87% after closing at 356.37 points, whereas the KSX-15 Index closed at 838.19 points up by 1.86%. Furthermore, last week’s average daily turnover increased by 25.09%, compared to the preceding week, reaching K.D 11.19 million, whereas trading volume average was 134.89 million shares, recording an increase of 9.16%.
Kuwait stock market’s three indicators closed with different gains by the end of the week, as the random purchasing operations that included many small-cap stocks continued in controlling the trading activity, which enabled the Price Index from realizing some gains by the end of the week; and both of the Weighted and KSX-15 indices’ performance improved due to the support received by the active purchasing operations executed on the large-cap and operational stocks, which enabled it to close in the green zone.
As per the daily trading activity, the market initiated the first session of the week with mixed closing to the three indicators, as the Price Index declined affected by the selling and speculative operations executed on the low-priced stocks, while the Weighted and KSX-15 indices received support from the purchasing power that concentrated on some heavy stocks, especially in the Telecommunication and Banks sectors, among a large drop in the trading activity especially the cash liquidity, which decreased by 36.13%. On the second session of the week, the fluctuation continued in controlling the market indices’ performance, with changing positions, whereas the Price Index was able this time to increase as a result to the quick speculative operations that concentrated on the small-cap stocks in particular, whilst the selling for profits pressures forced the Weighted and KSX-15 indices to close in the red zone, among an increased trading activity, especially the volume.
On Tuesday’s session, the three indices were able to close in the green zone, supported by the strong purchasing operations witnessed by most of the previously traded stocks of different sectors, in light of a general state of optimism after the dividends distributions announced by most of the companies that disclosed its 2015 financial results, which motivated the traders and pushed the trading activity to increase, especially the cash liquidity, which grew by 114.58%. The market indices ended the last session of the week in the green zone, as the quick speculative operations returned in controlling the trading direction, among a limited fluctuated performance, and contracted trading activity.
By the end of the last week, the number of listed companies that disclosed its 2015 financial results reached 74 company, representing 38.95% of the total 190 listed company in KSE. The disclosed companies realized around K.D. 1.34 billion, increasing by 5.11% from the same companies’ results for 2014 financial year. On the other hand, the market capitalization for KSE reached K.D. 23.62 billion by the end of last week, increasing by 1.47% from its level in a week earlier where it was K.D. 23.28 billion; however on an annual level, the market cap for the listed companies in KSE declined by 6.51% from its value at end of 2015, as it reached then K.D. 25.27 billion.
As far as KSE annual performance, the price index ended last week recording 7.84% annual loss compared to its closing in 2015, while the weighted index decreased by 6.64%, and the KSX-15 recorded 6.91% 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 Telecommunications sector, achieving 4.97% growth rate as its index closed at 592.94 points. Whereas, in the second place, the Technology sector’s index closed at 857.91 points recording 4.36% increase. The Health Care sector came in third as its index achieved 2.91% growth, ending the week at 1,016.55 points.
On the other hand, the Consumer Services sector headed the losers list as its index declined by 0.87% to end the week’s activity at 959.10 points. The Industrial sector was second on the losers’ list, which index declined by 0.48%, closing at 962.92 points, the least declining sector was the Real Estate sector, as its index closed at 824.17 points at a loss of 0.30%.
Sectors’ Activity
The Financial Services sector dominated a total trade volume of around 229.69 million shares changing hands during last week, representing 42.57% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 24.69% of last week’s total trading volume, with a total of around 133.21 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 17.33 million or 38.73% 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 10.02 million representing 22.39% of the total market trading value.