Boursa Kuwait ended last week in the green zone. The Premier Market Index closed at 4,904.82 points, up by 2.11%, the Main Market Index increased by 0.13% after closing at 4,863.51 points, and the All-Share Index closed at 4,890.44 points up by 1.40%. Furthermore, last week’s average daily turnover increased by 17.60%, compared to the preceding week, reaching K.D 18.05 million, whereas trading volume average was 83.35 million shares, recording an increase of 30.09%.
The Boursa realized gains during the last week came in parallel with the noticeable trend that the cash liquidity levels are witnessing compared to the previous periods, as the daily trading value witnessed large increases during some daily sessions, especially the mid-week session, where the trading value reached by the end of it to around K.D. 24.8 million, its highest level ever since the beginning of the year, which positively reflected on the total trading value of the last week, as it reached around K.D. 90.23 million, up by approximately 96% compared to the previous week.
As far as the last week’s daily trading activity, the Boursa recorded weekly gains of K.D. 367.19 million, as its market capitalization reached K.D. 26.94 billion, up by 1.38% from its level in the previous week, where it was K.D. 26.57 billion. The market cap losses of Boursa Kuwait since the beginning of application the new market segmentation system have contracted to reach K.D. 920.96 million or 3.31%. (Note: The market cap for the listed companies in the Market is calculated based on the weighted average number of outstanding shares as per the latest available official financial statements).
In addition, the leading and operational stocks continued its control over the trading activity in the Market, especially the Banks stocks that acquired most of the traded cash liquidity during the last week, whereas the trading value of the Banks sector reached about K.D. 50 million, representing more than 55% of the total Market liquidity that recorded K.D. 90 million. Moreover, last week witnessed liquidation operations executed on large number of listed stocks after the issue of judicial orders by the Ministry of Justice against some traders enforcing them to sell some of their listed stocks in favor of the Execution Department of the Ministry, which contributed to increasing the trading value in the Boursa during the daily sessions of the week.
Moreover, last week witnessed trading over 145 stock out of 175 listed stock in the Market, where prices of 64 stock increased against prices of 73 stock decreased, and prices of 38 stocks remained at no change.
Sectors’ Indices
Eight of Boursa Kuwait’s sectors ended last week in the green zone, three recorded declines, while the Technology sector’s index closed with no change from the week before. Last week’s highest gainer was the Telecommunications sector, achieving 4.66% growth rate as its index closed at 879.50 points. The Basic Materials sector came in the second place, as its index closed at 1,032.76 points recording 3.72% increase. The Oil & Gas sector came in third as its index achieved 1.61% growth, ending the week at 1,06.49 points.
On the other hand, the Consumer Services sector headed the losers list as its index declined by 1.09% to end the week’s activity at 1,072.64 points, followed by the Industrial sector, which index declined by 0.29%, closing at 970.89 points.
Sectors’ Activity
The Banks sector dominated a total trade volume of around 155.47 million shares changing hands during last week, representing 37.30% of the total market trading volume. The Financial Services was second in terms of trading volume as the sector’s traded shares were 27% of last week’s total trading volume, with a total of around 112.51 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 49.91 million or 55.32% 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. 10.07 million representing 11.16% of the total market trading value.