Boursa Kuwait ended last week in the green zone. The Price Index closed at 6,824.49 points, up by 3.67% from the week before closing, the Weighted Index increased by 2.02% after closing at 428.76 points, whereas the KSX-15 Index closed at 974.89 points up by 1.33%. Furthermore, the week’s average daily turnover increased by 15.49%, compared to the preceding week, reaching K.D 56.57 million, whereas trading volume average was 569.50 million shares, recording an increase of 7.29%.

The Boursa witnessed a positive performance and the three indices were able to realize good gains to compensate a part of the losses recorded during the last two week due to the profit collection operations. The Boursa witnessed such performance in light of the purchasing trend that included many listed stocks of leading and small-cap ones that declined in the previous period to a tempting levels of purchase, amid a control of an optimistic state over the investment arena in the market regarding the listed companies results for 2016. Also, the market received some support from the increased liquidity levels during most of the daily sessions of the week, where the total value in the Boursa during the last five sessions reached around K.D. 282.85 million, up by 15.49% from a week earlier. In addition, the market capitalization reached K.D. 28.41 billion by the end of last week, up by 1.9% compared to its level in a week earlier, where it reached then K.D. 27.88 billion. On an annual level, the market cap gains for the listed companies reached 11.82% from its value at end of 2016, where it reached then K.D. 25.41 billion

(Note: delisting of Refrigeration Industries & Storage Co. and Taiba Kuwaiti Holding Co. during the last week contributed to the decrease in the Boursa market cap by around K.D. 435.85 million, the total market value of the two mentioned companies)

Moreover, the Boursa Kuwait witnessed in the first session of the week a mixed closing for the three indices, where the Price and Weighted indices increased supported by the speculative operations that concentrated on the small-cap stocks, especially the ones being traded in prices below its book value, in addition to the partial purchasing operations that targeted some heavy stocks, while some leading stocks witnessed selling operations, especially in the Banks and Real Estate sectors, which caused KSX-15 Index to decline and close the session in the red zone. On the next session, the indices continued its fluctuation, as the Price Index continued its upward direction and was able to end the session in the green zone affected by the continued speculative operations concentrated on the small-cap stocks, however the Weighted and KSX-15 indices dropped as a result to the selling trend that included few leading and heavy stocks.

On the mid-week session, the three market indices were able to record good gains that pushed it to close in the green zone, amid a return to the strong purchasing operations that concentrated on the leading stocks of which recorded different drops in the previous two sessions, which enhanced the Price Index’s gains and enabled the Weighted and KSX-15 indices to compensate all its losses recorded since the beginning of the week. Also, the Boursa continued its positive performance on Wednesday’s session, in light of the gradual increase in the cash liquidity levels, amid a noticeable purchasing demand on the leading stocks especially in the Banks sector. The Boursa indices returned to fluctuate once again at the end of week session, where the Price and KSX-15 indices were able to continue to increase and recorded limited profit by the end of the session, which enhanced its weekly gains somewhat, while the Weighted Index went against the current and ended the session in the red zone, lightening by this its weekly gains.

For the annual performance, the price index ended last week recording 18.73% annual gain compared to its closing in 2016, while the weighted index increased by 12.80%, and the KSX-15 recorded 10.15% growth.

Sectors’ Indices

Nine of Boursa Kuwait’s sectors ended last week in the green zone, while the other three recorded declines. Last week’s highest gainer was the Financial Services sector, achieving 6.18% growth rate as its index closed at 791.64 points. Whereas, in the second place, the Banks sector’s index closed at 988.83 points recording 5.32% increase. The Real Estate sector came in third as its index achieved 5.20% growth, ending the week at 1,081.68 points. The Basic Materials sector was the least growing as its index closed at 1,306.32 points with a 0.37% increase.

On the other hand, the Technology sector headed the losers list as its index declined by 2.44% to end the week’s activity at 828.09 points. The Consumer Goods sector was second on the losers’ list, which index declined by 0.89%, closing at 1,129.33 points, followed by the Health Care sector, as its index closed at 1,225.37 points at a weekly loss of 0.82%.

Sectors’ Activity

On the other hand, the Banks sector’s stocks were the highest traded in terms of value; with a turnover of around K.D 78.96 million or 27.92% 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 60.49 million representing 21.38% of the total market trading value.