Boursa Kuwait ended last week in the red zone. The Premier Market Index closed at 4,803.52 points, down by 0.40%, the Main Market Index decreased by 0.42% after closing at 4,857.19 points, and the All-Share Index closed at 4,822.99 points down by 0.41%. Furthermore, last week’s average daily turnover increased by 44.41%, compared to the preceding week, reaching K.D 15.34 million, whereas trading volume average was 64.07 million shares, recording an increase of 49.92%.
The profit collection operations witnessed by the Boursa during the last week’s sessions were negatively reflected on the total market capitalization, where the market recorded a loss of over K.D. 111 in the last three sessions, as its market cap reached by the end of the week K.D. 26.57 billion against K.D. 26.68 billion in the earlier week, down by 0.42%. The Boursa market cap since the application of the new market segmentation has dropped reaching K.D. 1.29 billion, down by 4.62%. (Note: The market cap for the listed companies in the market is calculated based on the average weighted number of outstanding stocks as per the latest official available financial statements).
The Boursa ended last week’s trading with a decline to its three indices, as the Market was under the influence of the profit collection operations that included a wide range of listed stocks, especially the ones that witnessed good increases in the previous weeks. The Market took a downward path during the week and its three indices recorded different losses in light of the success of the selling pressures and the profit collection operations over the random purchasing operations which were present in a limited way, and came amid a growth to the trading indicators compared to the previous week’s trading, especially the cash liquidity that reached on the end of week session its highest level since the market segmentation, where it reached K.D. 21.27 million up by 46.57% from the previous session. By the of the week, the average cash liquidity reached K.D. 15.34 million, up by 44.41% from its level in the previous week, as it reached K.D. 10.63 million, while the average volume increased by 49.92%, reaching 64.07 million share, compared to 42.74 million stock in the previous week.
Moreover, last week witnessed trading over 133 stock out of 175 listed stock in the Market, where prices of 45 stock increased against prices of 70 stock decreased, and prices of 60 stocks remained at no change.
Sectors’ Indices
Seven of Boursa Kuwait’s sectors ended last week in the red zone, three recorded increases, while the Health Care sector’s index & Technology sector’s index with no change from the week before. Last week’s highest loser was the Insurance sector, as its index declined by 2.87% to end the week’s activity at 910.54 points, followed by the Basic Materials sector, which index declined by 2.50%, closing at 995.69 points.
On the other hand, Last week’s highest gainer was the Oil & Gas sector, achieving 0.66% growth rate as its index closed at 1,044.68 points. The Telecommunications sector came in the second place, as its index closed at 840.38 points recording 0.47% increase.
Sectors’ Activity
The Banks sector dominated a total trade volume of around 64.78 million shares changing hands during last week, representing 33.70% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector’s traded shares were 25.07% of last week’s total trading volume, with a total of around 48.19 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 24.49 million or 53.20% of last week’s total market trading value. The Telecommunications sector took the second place as the sector’s last week turnover was approx. K.D. 7.01 million representing 15.23% of the total market trading value.