(MENAFN- Arab Times) Kuwait Stock Exchange (KSE) ended last week in the red zone. The price index closed at 7,841.40 points, down by 0.79% from the week before closing, the weighted index decreased by 0.80% after closing at 456 points, whereas the KSX-15 index closed at 1,069.54 points down by 1.22%.
Furthermore, last week's average daily turnover increased by 41.95%, compared to the preceding week, reaching K.D 33.79 million, whereas trading volume average was 292.78 million shares, recording increase of 20.12%.
The stock market ended the third week of the month's trading with a decline for its all indices, and closed below the 7900 points level, affected by the quick speculations that returned to lead the market once again, as the stock market witnessed a fluctuated performance throughout most of its sessions, due to the quick profit collection operations executed on the small-cap and large-cap stocks, and concentrated on some stocks of which realized capital gains during the last period, which caused the market to drop during the last week. On the other hand, the trading activity was able to increase in value to reach 13.56% growth, despite the decline of the market three indices.
Moreover; after the end of the announcement period of the listed companies' third quarter financial results for 2013, which is considered to be relatively good, the market did not positively react with such results, which reflect the weak economic and political motivators, and the portfolios and investment funds' desire to maintain the current prices of the stocks until early 2014, especially that parts of such portfolios are investing in the GCC and hunting for some good investment opportunities, which in turn negatively affected the performance of the market indices to end their trading in the red zone in most of the week's sessions.
For the annual performance, the price index ended last week recording 32.14% annual gain compared to its closing in 2012, while the weighted index increased by 9.18%, and the KSX-15 recorded 5.99% growth.
Sectors' Indices
Ten of KSE's sectors ended last week in the red zone, while the other two recorded increases. The last week's highest gainer was the Technology sector, achieving 1.88% growth rate as its index closed at 1,064.68 points. Whereas, in the second place, the Health Care sector's index closed at 1,014.72 points recording 0.45% increase.
On the other hand, the Consumer Services sector headed the losers list , as its index declined by 3.10% to end the week's activity at 1,150.77 points.
The Basic Materials sector was second on the losers' list, which index declined by 1.93%, closing at 1,148.73 points, followed by the Consumer Goods sector, as its index closed at 1,236.24 points at a loss of 1.54%.
The Banks sector was the least declining as its index closed at 1,097.66 points with a 0.11% decrease.
Sectors' Activity
The Financial Services sector dominated total trade volume during last week with 505.82 million shares changing hands, representing 43.19% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector's traded shares were 30.74% of last week's total trading volume, with a total of 360.00 million shares.
On the other hand, the Financial Services sector's stocks were the highest traded in terms of value; with a turnover of K.D 62.66 million or 46.36% of last week's total market trading value.
The Real Estate sector took the second place as the sector's last week turnover was K.D 27.26 million represented 20.16% of the total market trading value.
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