19Jan 2019
Saturday

Kuwaiti market closes week with an upswing

Updated : Friday, 11 January 2019, 06:00:42 PM
The All Shares Index jumped 41 pts to 5,218.72 points
Editorial Staff
By Editorial Staff
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KUWAIT CITY(IAMINKUWAIT): Kuwait stocks swung higher on Thursday to wind up the week on a buoyant note. The All Shares Index jumped 41 pts to 5,218.72 points paced by heavyweights even as the rest continued to seesaw in a narrow range. 

The Prime Market sprinted 66.38 pts to 5,453.33 points taking the month’s gains to 87 points while Main Market was down 5.72 pts at 4,791.47 points. The volume turnover meanwhile shrank following the three-day rise. Over 213 million shares changed hands - 21 pct drop from the day before.

The sectors closed mostly in the green turf. Banks outshone the rest with 1.12 pct gain whereas insurance dipped 0.97 percent, the biggest loser of the day. Volume wise, banks garnered the highest market share of 28.41 pct and fi nancial services followed closely with 28.26 percent.

Among the prime movers, National Bank of Kuwait rallied 19 fi ls to 865 fi ls on back of 8.9 million shares and Kuwait Finance House climbed 8 fi ls with brisk trading of over 4 million shares. Boubyan Bank was up 9 fi ls at 577 fils.

Zain rose 3 fi ls to 471 fi ls with a volume of 1.7 million shares and Ooredoo stood pat at 700 fi ls. Kuwait Telecommunications Co (VIVA) scaled 15 fi ls to wind up at 865 fi ls and Agility dialed up 2 fi ls to close at 794 fils.

The market opened fi rm and crept higher in early trade. The main index scaled the day’s highest level of 5,218 pts almost half way into the session amid strong buying in some of the banks and drifted sideways before closing with hefty gains.

Top gainer of the day, Wethaq Takaful spiked 17.3 pct to 35.2 fi ls and Tijara climbed 10 percent to stand next. Marakez tumbled 15.23 percent, the steepest decliner of the day and Gulf Petroleum Investment topped the volume with 16.6 million shares.

Mirroring the day’s gains, the winners outnumbered the losers. 64 stocks advanced whereas 46 closed lower. Of the 131 counters active on Thursday, 1 closed fl at. 6,956 deals worth KD 32.33 million were transacted – a 2.4 pct rise in value from the day before.

National Industries Group dialed up 2 fi ls on back of 4.3 million shares and Mezzan Holding clipped 2 fi ls. Boubyan Petrochemical Co gained 9 fi ls and Al Qurain Petrochemical Co was up 4 fi ls at 370 fi ls. Independent Petroleum Group gained 11 fils.

Jazeera Airways extended Wednesday’s rally with 4 fi ls gain while ALAFCO added 4 fi ls before winding up at 354 fi ls. Heavy Engineering Industries and Shipbuilding Co was unchanged at 438 fi ls and Gulf Cable too did not budge from its earlier close of 373 fils.

Kuwait Portland Cement rose 5 fi ls to KD 1.135 and Kuwait Foundry Co took in 2 fi ls. ACICO Industries and Salbookh tripped 1 fi l each while NICBM was down 7 fi ls at 185 fi ls. Equipment Holding ticked 0.3 fi l higher to 30.3 fi ls and Al Rai Media Group ticked 0.4 fi l up.

Humansoft Holding jumped 20 fi ls to KD 3.250 and NAPESCO was up 3 fi ls at 875 fi ls. Educational Holding Co dialed down 2 fi ls and Mashaer Holding closed fl at at 87 fi ls. KPPC took in 2.5 fi ls and KCPC slipped 3 fi ls to 236 fi ls.

Combined Group Contracting Co fell 2 fils to 318 fils and OSOS inched 1 fil into red. UPAC skidded 15 fils to 590 fils and IFA Hotels and Resorts gained 4 fils. Kuwait and Gulf Links Transport Co rose 5.6 fils to 99 fils and KGL Logistics added 2 fils.

In the banking sector, Gulf Bank fell 2 fils to 268 fils while Kuwait International Bank and Ahli United Bank dialed up 2 fils each to end at 273 fils and 215 fils respectively. Warba Bank climbed 6 fils to 221 fils.

1.7 million shares whereas Commercial Bank dropped 20 fi ls to 500 fi ls. Al Mutahed tripped 1 fi l and Al Ahli Bank was not traded during the session.

KIPCO was unchanged at 210 fi ls after vacillating in a narrow range whereas Gulf Finance House took in 1.1 fi ls. Kuwait Investment Co was fl at at 130 fi ls and FACIL ticked 1 fi l higher to 178 fi ls. International Financial Advisors tripped 0.2 fi l and Coast Investment Co edged 0.4 fi l into red.

National Investment Co edged 0.8 fi l higher to 94.9 fi ls and Securities House Co trimmed 0.3 fi l. GIH took in 0.4 fi ls whereas KMEFIC and KFIC dialed up 1 fi l each to end at 35.5 fi ls and 35 fi ls respectively. Al Mal Investment Co ticked 0.1 fi l into red.

Bayan Investment Co fell 1.3 fi ls to 47 fi ls and KAMCO stood pat at 74 fi ls. Madar Finance rose 3 fi ls to 155 fi ls and Al Deera Holding tripped 0.2 fi l. Sokouk Holding inched 0.1 fi l up and Ektittab Holding followed suit.

Noor Financial Investment Co took in 1.9 fi ls and Al Madina added 0.8 fi l with a brisk trading of 11.6 million shares. Gulf Insurance Co slid 15 fi ls to 660 fi ls and Ahleia Insurance Co gave up 9 fi ls. Warba Insurance Co rose 4.4 fi ls to 79.6 fils.

Mabanee Co dialed up 1 fi ls and Kuwait Real Estate ticked 0.2 fi l up. United Real Estate paused at 61 fi ls and National Real Estate edged 0.8 fi l into green. Salhiya Real Estate added 2 fi ls and Mazaya Holding ticked 0.3 fi l higher.

The bourse has been largely upbeat during the week. The main index closed higher in four of the fi ve sessions rallying 80 pts week-onweek and has gained 147 points so far during the month. Boursa Kuwait, with 176 listed stocks, is the second largest market in the region.

Courtesy  : arabtimesonline.com

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Gold1 Ounce 388.431280.591071.69 -0.79%
Gold1 Tolas 145.66480.1834151.59 -0.78%
Gold 18K1 Gram 9.3630.862194.55 -0.85%
Gold 21K1 Gram 10.9336.032562.66 -0.73%
Gold 22K1 Gram 11.4537.752684.58 -0.78%
Gold 24K1 Gram 12.4941.172928.42 -0.79%
Silver1 Ounce 4.6515.331090.24 -1.27%
Silver1 Gram 0.150.4935.17 0%
Silver1 Kilogram 149.52492.9135056.61 -1.23%