(MENAFN- Arab Times) Kuwait Stock Exchange (KSE) ended last week in the red zone. The price index closed at 7,704.34 points, down by 0.78% from the week before closing, the weighted index decreased by 0.68% after closing at 453.34 points, whereas the KSX-15 index closed at 1,076.02 points down by 0.26%. Furthermore, last week's average daily turnover decreased by 0.92%, compared to the preceding week, reaching K.D 24.07 million, whereas trading volume average was 280.97 million shares, recording increase of 46.08%. All KSE indices closed in the red zone for the second consecutive week, as a result to the selling operations that controlled the trading activities during most of the week's sessions, whereas the selling pressures included many listed stocks, both large-caps and small-caps, targeting profit collection.
This action came among a limited fluctuating performance due to the speculative activity that continued to control the trading activities. Moreover, the stock market is still suffering from a noticeable repulsion against trading, and weak purchasing operations, which negatively affected the trading activity in the market, especially the value that recorded in one of the sessions its lowest level since last October. On the other hand, some of the last week's traded stocks witnessed random purchasing operations enabled the market indices to limit its losses on the weekly level; also the market received some support from the collection operations performed by the investment groups, in order to improve its annual financial results, as we are approaching the year end. For the annual performance, the price index ended last week recording 29.83% annual gains compared to its closing in 2012, while the weighted index increased by 8.55%, and the KSX-15 recorded 6.63% growth.
Sectors' Indices
Ten of KSE's sectors ended last week in the red zone, while the other two recorded increases. The Oil & Gas sector headed the losers list as its index declined by 3% to end the week's activity at 1,198.99 points. The Consumer Goods sector was second on the losers' list, which index declined by 2.42%, closing at 1,238.30 points, followed by the Basic Materials sector, as its index closed at 1,144.45 points at a loss of 1.72%. The Financial Services sector was the least declining as its index closed at 1,140.38 points with a 0.22% decrease. On the other hand, last week's highest gainer was the Consumer Services sector, achieving 1.79% growth rate as its index closed at 1,156.15 points. Whereas, in the second place, the Technology sector's index closed at 1,011.26 points recording 0.43% increase.
Sectors' Activity
The Financial Services sector dominated total trade volume during last week with 437.59 million shares changing hands, representing 31.15% of the total market trading volume. The Industrial sector was second in terms of trading volume as the sector's traded shares were 30.99% of last week's total trading volume, with a total of 435.33 million shares.
For further details, please visit our web site: www.bayaninvest.com
On the other hand, the Real Estate sector's stocks were the highest traded in terms of value; with a turnover of K.D 34.07 million or 28.31% of last week's total market trading value. The Financial Services sector took the second place as the sector's last week turnover was K.D 32.84 million represented 27.29% of the total market trading value.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.