Boursa Kuwait ended last week with mixed zone. The Price Index closed at 5,676.22 points, up by 0.14% from the week before closing, the Weighted Index decreased by 0.48% after closing at 376.55 points, whereas the KSX-15 Index closed at 882.49 points down by 0.81%. Furthermore, the week’s average daily turnover decreased by 30.20%, compared to the preceding week, reaching K.D 12.42 million, whereas trading volume average was 148.35 million shares, recording a decrease of 30.80%.
The three Boursa indices witnessed mixed closings for the week, where the Price Index continued to increase for the ninth consecutive week, to close the week at its highest level in 2016 supported by the continued active purchasing operations executed on some small-cap stocks especially the ones valued under 100 Fils. The Weighted and KSX-15 indices ended the week in the red zone amid an increased selling and profit collection operations executed on some leading stocks, especially the ones that realized increases in the previous weeks.
As per the daily activity, the Boursa witnessed selling activity in the first session of the week, which pushed the three Boursa indices to end the session in the red zone, especially the Price Index that declined by 0.31% by the end of the session, which came as a result to the selling pressures that concentrated on the leading stocks, amid a decrease in the liquidity levels to reach below K.D. 8 million for the first time during this month, as it reached by the end of the session around K.D. 7.9 million. The Boursa was able in the next session to realize an increase for the three indices, especially the Weighted and KSX-15, to compensate all its losses recorded in the previous session, supported by the return of the purchasing activity once again on the leading stocks especially in the Banks and Industrial sectors, where it caused the trading activity to increase noticeably compared to the previous session, especially the value that went up by around 88%.
The mid-week session witnessed a mixed closings to the three indices, whereas the Price Index was able to continue its positive performance supported by the purchasing operations that concentrated on the small-cap stocks of market value less than book and par values, while the Weighted and KSX-15 indices declined affected by the profit collection operations that included some leading stocks especially in the Banks sector. On the next session, the three Boursa indices returned to close in the green zone, in light of the continued purchasing operations on many listed stocks of both leading and small-cap ones, amid a growth in the trading indicators compared to the previous session, where the value increased by around 18%, and the volume grew by around 6%.
On the end of week session, the Boursa indices returned to fluctuate once again, as the Price Index was able to continue its upward direction enhancing by this its weekly gains which increase reached by the end of the same session 0.14%, supported by the purchasing operations executed on the small-cap stocks, while the Weighted and KSX-15 indices dropped with the continued profit collection operations in taking place on the leading and heavy stocks, which increased its weekly losses to reache by the end of the session 0.48% and 0.81% respectively.
By the end of last week, the market capitalization for the listed companies in the primary market reached K.D. 26.11 billion, down by 0.34% compared to its level in the previous week, where it reached then K.D. 26.20 billion. On an annual level, the market cap for the listed companies in the primary market recorded a growth of 3.33% from its value at end of 2015, where it reached then K.D. 25.27 billion.
As far as Boursa Kuwait annual performance, the price index ended last week recording 1.09% annual gain compared to its closing in 2015, while the weighted index decreased by 1.35%, and the KSX-15 recorded 1.99% loss.
Sectors’ Indices
Six of KSE’s sectors ended last week in the green zone, while the other six recorded declines. Last week’s highest gainer was the Consumer Services sector, achieving 0.89% growth rate as its index closed at 924.14 points. Whereas, in the second place, the Basic Materials sector’s index closed at 1,002.41 points recording 0.72% increase. The Oil & Gas sector came in third as its index achieved 0.71% growth, ending the week at 786.02 points.
On the other hand, the Technology sector headed the losers list as its index declined by 3.09% to end the week’s activity at 593.25 points. The Health Care sector was second on the losers’ list, which index declined by 1.69%, closing at 1,254.19 points, followed by the Telecommunications sector, as its index closed at 626.99 points at a loss of 0.71%.
Sectors’ Activity
The Financial Services sector dominated a total trade volume of around 284.04 million shares changing hands during last week, representing 38.29% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 30.45% of last week’s total trading volume, with a total of around 225.89 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 19.49 million or 31.39% 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 13.39 million representing 21.57% of the total market trading value.