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Kuwait - KSE Index Ends 13.01 Pts Lower Amid Volatile Trade  Join our daily free Newsletter

MENAFN - Arab Times - 10/12/2013

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(MENAFN - Arab Times) Kuwait stocks pulled lower on Monday, snapping the three-day advance. The index slipped 13.01 pts in volatile trade to end at 7759.65 pts amid profit taking in select mid and low caps. Some of the banks shined while other heavyweights were mostly subdued in absence of positive cues. The KSX 15 benchmark climbed 10 pts to 1083.71 points pulling it to the month's opening level while the weighted index nudged 1.64 pts higher. The volume turnover meanwhile soared for the second day and breached the 400 million mark for the first time in more than 6 weeks. 473.61 million shares changed hands - a 20.28 percent increase from the day before. The sectors closed mixed. Healthcare outperformed the rest with 1.35 percent rise whereas technology slid, the biggest loser of the day. In terms of volume, industrials accounted for the highest market volume of 53.50 million shares while real estate and financial services came in next 21.51 pct and 18.84 percent respectively.

Kuwait Food Co ( Americana) dropped 20 fils to KD 2.360 and Combined Group Contracting Co was down by same measure . Boubyan Petrochemical Co slipped 10 fils reversing the gains on Sunday and Burgan Well Drilling Co was down by same measure.
Safwan Trading and Contracting Co shed 20 fils and ACICO Industries gave up 15 fils. The company has logged net profit of KD 4.04 million and earnings per share of 16.33 fils in the first nine-months of the year, up from KD 2.33 million profit and 9.42 fils EPS in the 9M of 2012.
Among the frontline stocks, Zain held the ground unchanged at KD 0.700 off early lows and Wataniya Telecom too continued to stagnate at KD 1.800 after trading in red earlier in the day. Agility rose 10 fils to KD 0.730 and the stock is up 200 fils from start of the year.


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