The Kuwait Stock Exchange was able to end four sessions up this week before concluding the week at its highest level since February 5. The market as measured by Global’s weighted Gener
al Index ended its last trading session at 182.11 points, an increase of 3.79 percent for the week. On year-to-date basis, the index loss settled at 11.78 percent.
On the other hand, Kuwait Stock Exchange (KSE) price index was also up, adding 130.50 points (1.99 percent) this week closing at 6,683.60 points. Market capitalization of the KSE was up at KD29.31bn. Market breadth skewed towards advancers as out of 169 stocks traded this week 86 stocks advanced against 58 closed at lower prices.
Trading activity was higher. Volume of shares traded on the exchange stood at 1.96bn shares changing hands at a total value of KD374.71mn. High volume was seen on the investment stocks with the sector accounting for 31.28 percent of the total traded volume this week with 613.92mn shares traded. Company-wise, Al-Safwa Holding Group’s stock was the most traded this week toping the volume list with 216.12mn shares changing hands, accounting for 11.01 percent of the total market traded volume. The scrip closed
higher by 8 percent at KD0.054. On the other hand, the banking sector led the value list this week with KD133.94mn traded accounting for 35.75 percent of the total market traded value. National Bank of Kuwait (NBK) topped the value list this week with KD63.60mn traded. The scrip ended the week up by 1.92 percent at KD1.060.
Global Insurance Index was the only loser this week, shedding 1.75 percent. The index was dragged down by a 12.90 percent loss seen on the Gulf Insurance Company’s share price. The scrip closed at KD0.405 at the end of the week.
All other sectoral indices were seen up for the week. Global Food Index was the biggest gainer, adding 15.19 percent. The index was pushed higher as the biggest Kuwaiti food company, Kuwait Foodstuff Company (Americana) added 19.59 percent to its share value, closing at KD1.160. The company made it to the biggest gainers list this week.
Global Services index was the market mover, adding 5.45 percent at the end of this week as large capitalization companies in the sector saw remarkable increase in their share values. Global Industrial Index followed, adding 4.61 percent to its value. Mena Holding Group and Metal & Recycling Company were the biggest gainers in the sector, adding 26.09 percent and 23.19 percent to their share values. Both were seen on the top gainers list this week. However, International Investment Projects topped the list
, adding 29.85 percent to its share price this week and closed at KD0.0435. The increase in price came after the KSE announced this week the date and details of the company’s merger with Al-Deera Holding Company.
On the other side, Al-Tameer Real Estate Investment Company topped the losers list, shedding 17.39 percent to its share price. The scrip closed at KD0.057. This retreat came after Tameer announced a net loss of KD5.14mn for the year ending in December 2008.
The Sharia-compliant Global Islamic Index managed to end the week up by 5.61 percent. Also Global Large Cap (Top 10) index was seen up by 4.99 percent while Global Small Cap (Low 10) Index added 4.15 percent.
