Arab Today, arab today kuwait stock exchange ends september trading in green zone
Last Updated : GMT 20:41:11
Arab Today, arab today
Arab Today, arab today

Kuwait Stock Exchange ends September trading in green zone

Arab Today, arab today

Arab Today, arab today Kuwait Stock Exchange ends September trading in green zone

Kuwait Stock Exchange (KSE)
Kuwait - KUNA

Kuwait Stock Exchange (KSE) ended September in the green zone, backed by continued control of the active purchasing operations, a specialized economic report showed Wednesday.
In its monthly report, Bayan Investment Company stated that KSE's Price Index closed at 7,621.51 points, up by 2.57 percent compared to the closings of the month before, the Weighted Index increased by 0.49 percent after closing at 494.44 points, whereas the KSX-15 Index closed at 1,203.82 points increasing by 0.28 percent.
"Furthermore, last month's average turnover increased by 41.81 percent, compared to the preceding month, reaching K.D 28.06 million, whereas trading volume average was 274.67 million shares, recording increase of 41.60 percent," reads the report.
As far as the stock market performance during the last month; the three indices were able to close in the green zone supported by the continued control of the active purchasing operations on the trading activity, which concentrated apparently on the small-cap stock,.. which positively impacted the Price Index performance and enabled it to break the 7,600 point up during last month, to compensate all its loss since the beginning of the year.
It added that the positive trading activity witnessed by some large-cap and blue-chip stocks was positively reflected on the Weighted Index and KSX-15 Index performances, to join the Price Index and close the month's trading activity in the green zone for the third consecutive month.
"In addition, it was noticed during last month's trading activity the return of the quick speculations to influence the market performance, whereas such operations included many listed stocks, headed by the small-cap ones in the Financial and Real Estate sectors, which contributed to enhancing the trading levels, especially the value, which witnessed a noticeable increase by the end of the month when compared to its level in August." On the contrary, the stock market was subject to some selling and profit collection operations executed on a number of listed companies during some daily sessions, whereas it concentrated on the large-cap and operational stocks, especially that of previous gains, which limited the gains of the stock market indicators, mostly the Weighted and KSX-15 indices.
On the other hand, Bayan report expected that by the end of September that the market enters into a new phase of watch and caution, waiting for the listed companies third quarter financial results, which will shape to a great extent such companies' performance for the year 2014.
For the annual performance, the price index ended last month recording 0.95 percent annual gain compared to its closing in 2013, while the weighted index increased by 9.18 percent, and the KSX-15 recorded 12.67 percent increase.
On the sectorial level, the figures showed that ten of KSE's sectors ended last month in the green zone except for two sectors.
"Last month's highest gainer was the Consumer Services sector, achieving 4.52 percent growth rate as its index closed at 1,224.77 points. Whereas, in the second place, the Financial Services sector's index closed at 1,073.86 points recording 4.29 percent increase," reads the report.
"On the other hand, the Oil & Gas sector was last week's loser as its index declined by 2.90 percent to end the week's activity at 1,246.73 points. Followed by Technology sector as its index declined by 0.70 percent to end the week's activity at 1,001.17 points."

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Arab Today, arab today kuwait stock exchange ends september trading in green zone Arab Today, arab today kuwait stock exchange ends september trading in green zone

 



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