Kuwait Stock Exchange (KSE) ended last week with mixed performance. The Price Index closed at 7,487.95 points, up by 0.46 percent from the week before closing, the Weighted Index decreased by 0.10 percent after closing at 491.90 points, whereas the KSX-15 Index closed at 1,198.92 points down by 0.25 percent. Furthermore, last week’s average daily turnover increased by 7.78 percent, compared to the preceding week, reaching KD 24.09 million, whereas trading volume average was 240.84 million shares, recording an increase of 7.11 percent.
In light of a fluctuated and hesitant performance among the traders’ different views, the three stock market indicators closed mixed by the end of the week, whereas the Price Index continued its weekly increase for the 11th consecutive week, among a continued random purchasing operations that targeted some small-cap stocks, in addition to the quick speculative operations that were present as well, while the Weighted and KSX-15 Indices could not continue their increase, to end the weekly activity in the red zone, affected by the profit collection operations that targeted many of the large-cap stocks, especially in the Banking and Telecommunications sectors.
Moreover, the stock market initiated last week’s activity with a grouped increase for its three indices, among a noticeable growth in the trading activity, especially the traded liquidity that increased more than 50 percent, whilst the profit collection operations that the market witnessed in the next session pushed the three indices to close in the red zone, to slightly decline, in light of a mixed daily variables of the trading activity. However during the mid-week session, the stock market witnessed sort of a stable performance, although the stock market general direction was upward, as the Price and KSX-15 indices were able to realize some gains, though no change appeared on the Weighted Index, to end the session’s trading at the same level of the previous one, among a limited decline to the traded cash liquidity in the market.
On Wednesday session, the stock market was able to realize some gains for its three indices, in light of the continued speculative operations that were present during the session and included some large and small-cap stocks, among a continued decline to the financial liquidity. However, on the end of week session, the stock market witnessed a mixed performance in the three indicators, where the Price Index continued to increase supported by the purchasing operations executed on some small-cap stocks, while the Weighted and KSX-15 Indices dropped in light of the sale operations that were present during the session for profit collection purposes, which caused the three indices to end the week with mixed performance.
For the annual performance, the price index ended last week recording 0.82 percent annual loss compared to its closing in 2013, while the weighted index increased by 8.62 percent, and the KSX-15 recorded 12.21 percent growth.
Six of KSE’s sectors ended last week in the green zone, while the other declined. Last week’s highest gainer was the Consumer Services sector, achieving 1.15 percent growth rate as its index closed at 1,185.38 points. Whereas, in the second place, the Financial Services sector’s index closed at 1,041.45 points recording 1.11 percent increase. The industrial sector came in third as its index achieved 0.66 percent growth, ending the week at 1,181.20 points.
On the other hand, the Consumer Goods sector headed the losers list as its index declined by 2.76 percent to end the week’s activity at 1,320.86 points. The Technology sector was second on the losers’ list, which index declined by 2.51 percent, closing at 1,001.49 points, followed by the Basic Materials sector, as its index closed at 1,262.94 points with a loss of 1.14 percent.
The Financial services sector dominated total trade volume during last week with 663.17 million shares changing hands, representing 55.07 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 23.39 percent of last week’s total trading volume, with a total of 281.64 million shares.
On the other hand, the Financials Services sector’s stocks were the highest traded in terms of value; with a turnover of KD 38.49 million or 31.95 percent of last week’s total market trading value. The Banking sector took the second place as the sector’s last week turnover was KD 28.01 million represented 23.25 percent of the total market trading value.