Kuwait Stock Exchange’s Weekly Activity, 12-May-2016
Kuwait Stock Exchange (KSE) ended last week with mixed performance. The Price Index closed at 5,395.51 points, up by 0.42% from the week before closing, the Weighted Index increased by 0.03% after closing at 362.71 points, whereas the KSX-15 Index closed at 844.99 points down by 0.98%. Furthermore, last week’s average daily turnover decreased by 1.66%, compared to the preceding week, reaching K.D 10.38 million, whereas trading volume average was 118.57 million shares, recording an decrease of 4.92%.
The three stock market indicators performed mixed by the end of last week, whereas the Price and Weighted indices were able to realize limited increase supported by the purchasing and quick speculative operations executed on many stocks, especially the small-cap ones, while KSX-15 Index was not able to end the week in the green zone affected by the profit collection operations executed on some large-cap stocks.
In addition, the stock market witnessed a fluctuated and mixed performance during most of the week’s sessions; as both of the Price Index and KSX-15 Index slightly declined in the first session, while the Weighted Index was able to increase, amid a noticeable drop in the trading activity, especially the value, which recorded its second lowest level during the current month. Also, the Price and Weighted indices decreased in the second session, as a result to the profit collection operations executed on a number of small-cap stocks, however the KSX-15 Index was able to record limited increase by the end of the session, due to the random purchasing operations that concentrated on the heavy stocks.
On the mid-week session, the market witnessed a negative performance that pushed its three indices to end the session in the red zone, came as a result to the profit collection operations and the quick speculations that marked the market activity during this session, in addition to the watch state that is over controlling many traders waiting for the listed companies results for the first quarter. On Wednesday’s session, the three market indicators were able to realize grouped increase and return to the green zone, supported by the speculations and the random purchasing operations in amid rushing the listed companies for disclosing its financial periodic reports. The last session of the week witnessed a return to the mixed performance for the three indicators, whereas the Price Index was able to continue its increase to enhance its weekly gains, whilst the Weighted and KSX-15 indices declined by the end of the session under the influence of the profit collection operations.
The market capitalization for the KSE reached by the end of last week to K.D. 23.57 billion, down by 0.18% from its level in a week earlier, whereas it recorded K.D. 23.61 billion; on an annual level, the market cap for the listed companies in KSE declined by 6.71% from its value at end of 2015, where it recorded then K.D. 25.27 billion.
As far as KSE annual performance, the price index ended last week recording 3.91% annual loss compared to its closing in 2015, while the weighted index decreased by 4.98%, and the KSX-15 recorded 6.16% loss.
Sectors’ Indices
Seven of KSE’s sectors ended last week in the green zone, five recorded declines. Last week’s highest gainer was the Consumer Services sector, achieving 2.73% growth rate as its index closed at 936.31 points. Whereas, in the second place, the Consumer Goods sector’s index closed at 1,096.01 points recording 1.92% increase. The Industrial sector came in third as its index achieved 1.62% growth, ending the week at 1,034.81 points.
On the other hand, the Technology sector headed the losers list as its index declined by 2.60% to end the week’s activity at 966.79 points. The Financial Services sector was second on the losers’ list, which index declined by 1.06%, closing at 580.52 points, followed by the Basic Materials sector, as its index closed at 991.24 points at a loss of 0.38%.
Sectors’ Activity
The Financial Services sector dominated a total trade volume of around 207.09 million shares changing hands during last week, representing 34.93% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 28.95% of last week’s total trading volume, with a total of around 171.65 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 11.41 million or 21.98% 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 10.16 million representing 19.58% of the total market trading value.