(MENAFN- Qatar News Agency) Kuwait stocks slumped Sunday to kick off the month on sour note. The index shed 43.86 pts in volatile trade to close at 7741.62 pts even as the trading turned anemic. The banks lead the day's decline while the telecom stocks bucked the trend to eke modest gains. KSE saw a corrective phase during most part of November even as the earnings failed to buoy the sentiments. The KSX 15 measure slipped 4.65 pts to 1078.66 points trimming the 2013 gains to 69 pts whereas the weighted index eased 1.61 points to 457.39 pts. The volume turnover meanwhile fell sharply below the 200 million mark to hit a multi-month low . 192.65 million shares changed hands - a 29.5 percent drop from the day before.
All sectors closed in the red except technology which jumped 2.19 percent and telecommunication which closed flat. Oil and gas slid 0.92 pct, the worst performer of the day. In terms of volume, real estate chalked the highest market share of 39.48 percent and financial services followed with 37.91 pct. Industrials came a distant third with 9.21 percent contribution. NAPESCO shed 40 fils while Kuwait Resorts Co eased 6 fils to settle at 98 fils. IFA Hotels and Resorts and Jeeran Holding Co were down 5 fils each and Kuwait Gulf Links gave up 4 fils to settle at KD 0.106. The stock has shed 6 fils during whole of November and is trading 18 fils higher year-to-date. Gulf Cables dropped 20 fils to KD 0.880 while National Industries Group, the Kharafi Group flagship, edged 2 fils lower. Kuwait Building Materials Manufacturing Co retreated 8 fils with thin trading. Kuwait Cement Co shed 10 fils.
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