Arab Today, arab today kuwait stock exchange ends week in red zone
Last Updated : GMT 10:11:59
Arab Today, arab today
Arab Today, arab today

Kuwait Stock Exchange ends week in red zone

Arab Today, arab today

Arab Today, arab today Kuwait Stock Exchange ends week in red zone

Kuwait Stock Exchange
Kuwait - KUNA

Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 7,361.61 points, down by 0.72 percent from the week before closing, the Weighted Index decreased by 0.98 percent after closing at 482.16 points, whereas the KSX-15 Index closed at 1,170.71 points, down by 1.68 percent.
According to the weekly report by Bayan Investment Company, last week's average daily turnover decreased by 15.51 percent, compared to the preceding week, reaching K.D 17.07 million, whereas trading volume average was 144.05 million shares, recording a decrease of 21.16 percent.
As far KSE's performance during last week, the Price Index initiated the first session of the month's last week with a loss, going in an opposite direction of all the expectations and the financial and technical standards, among selling operations and weak fluctuated trades executed on the small-cap stocks and some investment groups, accompanied by the Price Index and KSX-15 Index, to end the first session of the week in the red zone, and close below the 7,400 point level.
Furthermore, the stock market indices continued its downward direction on the second session of the week, whereas the Price Index lost 65.02 point to reach 7,317.17 point, followed by the Weighted Index and KSX-15 indices, due to the selling pressures and the tensed atmosphere that the traders are living as a result to the drop of the indicators' performance and the lack of liquidity, in light of unreasonable selling operations and purchase reluctance, ignoring by that the positive third quarter financial results of 2014 which disclosed by some listed companies.
On the other hand, the KSE indices were able to hold and go back to its upward direction once again on Tuesday's session, as the Price Index increased after the profit collection operations during the previous two sessions, supported by the active speculative operations on the low-priced stocks, whereas most of the large-cap stocks remained at its previous levels, influenced by the psychological support that came in line with opening the National Assembly new legislative cycle, among a general decline in the trading activity.
Moreover, the stock market continued its upward direction for the three indicators on Wednesday's session, whereas the trading activity increased, especially the value by 71.19 percent from the previous session, to reach K.D. 22.45 million approximately, supported by the strong and active purchasing operations executed on the small-cap stocks, that succeeded in returning to lead the stock market and push it to increase once again, after the pervious selling pressures.
The stock market ended the weekly trading activity with mixed closings to its three indices and recorded a decline to the cash liquidity and traded volume, as the Price Index declined in the last session of the week, whilst the Weighted Index and KSX-15 increased, supported by the selling operations executed on the stocks groups, especially after the positive disclosure of some listed companies to its third quarter financial results.
For the annual performance, the price index ended last week recording 2.49 percent annual loss compared to its closing in 2013, while the weighted index increased by 6.47 percent, and the KSX-15 recorded 9.57 percent growth.
Eight of KSE's sectors ended last week in the red zone, while the other three recorded increases, whereas the Health sector's index closed with no change from the week before.
The Telecommunications sector headed the losers list as its index declined by 2.92 percent to end the week's activity at 696.09 points. The Oil and Gas sector was second on the losers list, which index declined by 1.65 percent, closing at 1,199.62 points, followed by the Financial Services sector, as its index closed at 1,020.07 points at a loss of 1.07 percent. The Banks sector was the least declining as its index closed at 1,109.45 points with a 0.19 percent decrease.
Last week's highest gainer was the Technology sector, achieving 1.54 percent growth rate as its index closed at 992.09 points. Whereas, in the second place, the Basic materials sector's index closed at 1,202.14 points recording 1.11 percent increase. The Consumer Goods sector came in third as its index achieved 0.63% growth, ending the week at 1,355.41 points.
The Financial services sector dominated total trade volume during last week with 375.32 million shares changing hands, representing 52.11 percent of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector's traded shares were 19.68 percent of last week's total trading volume, with a total of 141.76 million shares.
Meanwhile, the Banks sector's stocks were the highest traded in terms of value; with a turnover of K.D 29.32 million or 34.35 percent of last week's total market trading value.
The Financial Services sector took the second place as the sector's last week turnover was K.D 24.31 million represented 28.47 percent of the total market trading value.

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Arab Today, arab today kuwait stock exchange ends week in red zone Arab Today, arab today kuwait stock exchange ends week in red zone

 



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