Boursa Kuwait ended last week in the red zone. The Price Index closed at 6,813.53 points, down by 2.77% from the week before closing, the Weighted Index decreased by 1.81% after closing at 408.87 points, whereas the KSX-15 Index closed at 923.34 points declining by 2.09%. Furthermore, last week’s average daily turnover decreased by 2.69%, compared to the preceding week, reaching K.D 26.67 million, whereas trading volume average was 289.10 million shares, recording a drop of 19.35%.
The three indices of Boursa Kuwait closed mixed last week, and all the trading levels declined compared to a week earlier, especially the average traded volume, which dropped by 19.35% to close at level 289.10 million stock, as a result to the strong selling and speculative operations witnessed by the market and executed on many leading and operational listed stocks. On the contrary, the market was able during some daily sessions of the week to increase supported by the random purchasing operations witnessed by some stocks of leading and small-cap ones, which limited the three indices’ losses on the weekly level.
Moreover, the market is currently watching for the listed companies results for the first quarter of the 2017, which started to flow after disclosing some companies and banks its financial data, amid optimism of being such results within the positive range.
As far as the daily trading activity of the market during the last week; the three indices initiated the first session with mixed closings, whereas the Price Index lost 38.71 point to drop below its previous 7,000 point level, affected by the selling pressures on the small-cap listed stocks of most market sectors, while the Weighted and KSX-15 indices received support from the purchasing and quick speculative operations on some leading stocks, amid a general decline in the trading activity. However on the second session, the three market indices recorded noticeable decrease, as the selling and profit collection operations executed on the leading stocks and the selling pressures on the low-priced stocks, caused the three market indices to record different losses by the end of the session, amid a continued decline in the trading value for the second consecutive session.
On Tuesday’s and Wednesday’s sessions, the three market indices sled to close in the red zone, after recording noticeable losses, especially the Price Index which decreased by 96.70 point on Wednesday’s session, to close at level 6,788.03 point. Also, none of the Weighted or the KSX-15 indices were able to record gains in the same two session, which increased its losses recorded over the three consecutive sessions of the week. The Boursa witnessed on Thursday’s session a return of the three indices to fluctuate once again, where the Price Index was able to reverse its direction and realize increase, compensating some of its weekly losses, while the Weighted and KSX-15 indices continued its downward direction, to end the week in the red zone.
The market capitalization reached by the end of last week K.D. 27.11 billion, down by 1.23% compared to its level in a week earlier, where it was K.D. 27.45 billion. On an annual level, the market cap for the listed companies in the main market increased by 6.71% from its value at end of 2016, where it reached back then K.D. 25.41 billion.
For the annual performance, the Price Index ended last week recording 18.54% annual gain compared to its closing in 2016, while the Weighted Index increased by 7.57%, and the KSX-15 recorded 4.33% growth.
Sectors’ Indices
On the other hand, the Health Care sector headed the losers list as its index declined by 12.26% to end the week’s activity at 1,336.68 points. The Technology sector was second on the losers’ list, which index declined by 7.18%, closing at 718.15 points, followed by the Real Estate sector, as its index closed at 993.21 points at a loss of 5.72%. The Consumer Services sector was the least declining as its index closed at 937.50 points with a 0.89% decrease.
Sectors’ Activity
The Real Estate sector dominated a total trade volume of around 684.91 million shares changing hands during last week, representing 47.38% of the total market trading volume. The Financial Services sector was second in terms of trading volume as the sector’s traded shares were 31.68% of last week’s total trading volume, with a total of around 457.95 million shares.
On the other hand, the Real Estate sector’s stocks were the highest traded in terms of value; with a turnover of around K.D 45.76 million or 34.32% 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 35.85 million representing 26.86% of the total market trading value.