Boursa Kuwait ended last week with a mixed performance. The Premier Market Index closed at 5,267.26 points, down by 0.78%, the Main Market Index increased by 0.10% after closing at 4,715.29 points, and the All-Share Index closed at 5,071.31 points down by 0.50%. Furthermore, last week’s average daily turnover decreased by 69.22%, compared to the preceding week, reaching around K.D 16.43 million, whereas trading volume average was about 101.92 million shares, recording a decrease of 33.94%.
In addition, the Market’s loss in a week reached more than K.D. 134 million, as the market cap of the total listed stocks decreased by the end of the week to reach about K.D. 28.46 billion against K.D. 28.60 billion in a week earlier, with a loss of 0.47%. The Boursa gains, since the application of the new market segmentation, contracted to reach approximately K.D. 605.25 million only, or 2.17%. (Note: The market cap for the listed companies in the Boursa is calculated based on the weighted average number of outstanding stocks as per the latest available official financial statements)..
Moreover, last week witnessed trading over 151 stock out of 175 listed stock in the Market, where prices of 62 stock increased against prices of 77 stock decreased, and prices of 36 stock remained at no change.
Sectors’ Indices
Seven of Boursa Kuwait’s sectors ended last week in the red zone, four recorded increases, while the Health Care sector’s index closed with no change from the week before. Last week’s highest loser was the Technology sector, as its index declined by 6.09% to end the week’s activity at 785.70 points. The Oil & Gas sector was second on the losers’ list, which index declined by 2.84%, closing at 1,153.19 points, followed by the Financial Services sector, which index declined by 2.08%, closing at 922.04 points.
On the other hand, last week’s highest gainer was the Telecommunications sector, achieving 1.17% growth rate as its index closed at 887.43 points. The Industrials sector came in the second place, as its index closed at 950.17 points recording 0.56% increase, followed by the Real Estate sector, achieving 0.55% growth rate as its index closed at 872.02 points.
Sectors’ Indices
The Financial Services sector dominated a total trade volume of around 170.73 million shares changing hands during last week, representing 33.50% of the total market trading volume. The Banks sector was second in terms of trading volume as the sector’s traded shares were 26.43% of last week’s total trading volume, with a total of around 134.68 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 44.66 million or 54.37% 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 11.29 million representing 13.74% of the total market trading value.