Boursa Kuwait ended last week in the green zone. The Price Index closed at 7,043.46 points, up by 3.42% from the week before closing, the Weighted Index increased by 0.54% after closing at 424.56 points, whereas the KSX-15 Index closed at 963.15 points up by 0.63%. Furthermore, the week’s average daily turnover decreased by 2.95%, compared to the preceding week, reaching K.D 32.41 million, whereas trading volume average was 378.70 million shares, recording a decrease of 3.13%.

The three indices of Boursa Kuwait ended last week’s trading in the green zone supported by the random purchasing operations that targeted some leading stocks, in addition to the speculative operations that concentrated on some small-cap stocks and some idle stocks, especially of market value less than its book value, amid optimism to the annual financial results of such companies, which positively reflected on the Price Index performance in particular, and enabled it during the last week from breaking the 7,000 point level up to reach its highest levels since 2014. The Boursa witnessed such performance in light of a declined trading indicators during the week, where the total value dropped from K.D. 166.96 million to reach K.D. 162.04 million, while the traded volume declined to reach 1.89 billion stock down from 1.95 billion stock in a week earlier.

As per the daily trading activity, the Boursa Kuwait initiated its first session of the last week with mixed gains for the three indices, amid a noticeable increase in the trading activity especially the cash liquidity which recorded a growth of 67.48% to reach around K.D. 42 million by the end of the session, where such came by the support of the purchasing activity that was present during the session and the quick speculative operations executed on some small-cap stocks, in addition to the purchasing operations executed on some heavy stocks. On the next session, the Boursa was able to continue its upward direction, and the three indices were able to end the session in the green zone, supported by the continued quick speculative operations on the small-cap stocks, amid fluctuation in the trading activity, where the traded volume increased by 2.43% however the trading value dropped by 15.62%.

The Boursa continued its renaissance in the mid-week session and was able to realize gains for the three indices amid a continued purchasing operations that included many listed stocks of different sectors, especially the Technology and Consumer Goods, the most growing sectors by the end of the session. However on Wednesday’s session, the three Boursa indices fluctuated and closed mixed, where the Price Index was able to close in the green zone solely, with noticeable gains by the end of the session that exceeded 2%, to close above 7,000 point level for the first time since more than two years, supported by the continued speculative operations on the small-cap and idle stocks, while the Weighted and KSX-15 indices declined by the end of the session affected by the profit collection operations executed on some leading and heavy stocks. On the end of week session, the three Boursa indices met in the green zone closing area, supported by the speculative operations, however at lower pace than the previous session, executed on some leading and heavy stocks of different sectors, especially of the Industrial and Banks sectors, to end the session with limited gains.

For the annual performance, the Price Index ended last week recording 22.54% annual gain compared to its closing in 2016, while the Weighted Index increased by 11.70%, and the KSX-15 recorded 8.83% 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 Industrial sector, achieving 11.17% growth rate as its index closed at 1,669.86 points. Whereas, in the second place, the Health Care sector’s index closed at 1,481.14 points recording 5.98% increase. The Consumer Services sector came in third as its index achieved 3.75% growth, ending the week at 962.97points. The Real Estate sector was the least growing as its index closed at 1,103.51 points with a 0.58% increase.

On the other hand, the Technology sector headed the losers list as its index declined by 2.11% to end the week’s activity at 812.55 points. The Consumer Goods sector was second on the losers’ list, which index declined by 2.04%, closing at 1,156.90 points, followed by the Banks sector, as its index closed at 967.57 points at a weekly loss of 0.02%.

Sectors’ Activity

The Real Estate sector dominated a total trade volume of around 831.14 million shares changing hands during last week, representing 43.89% of the total market trading volume. The Financial Services sector was second in terms of trading volume as the sector’s traded shares were 35.06% of last week’s total trading volume, with a total of around 663.95 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 44.02 million or 27.17% 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 42.41 million representing 26.17% of the total market trading value.