(MENAFN - Arab Times) Kuwait stocks climbed higher Monday extending the gains to third consecutive day. The index rose 39.2 points to 7,738.26 points helped by speculative buying in some of the mid and small caps. The banking stocks were subdued and most of the heavyweights too showed little change. The KSX 15 benchmark rose 2.55 pts to 1063.14 points taking the month's gains to 11 points while the weighted index inched 1.29 points up. The volume turnover nudged higher to hold above the 500 million mark for second straight day. 558.46 million shares changed hands - a 6.58 percent increase from Sunday. The sectors closed mostly in the positive territory. Healthcare outperformed the rest with 1.48 percent upswing whereas basic materials shed 0.95 pct, the biggest loser of the day. Volume wise financial services garnered the highest market share of 42.64 pct while real estate and industrials followed with 29.03 percent and 16.56 pct respectively.
Among notable gainers, Combined Group Contracting Co spiked 40 fils to KD 1.280 and Future Kid Entertainment and Real Estate climbed 10 fils. Alaragan International Real Estate too added 10 fils while Mushrif Trading and Contracting Co was up 6 fils at KD 0.116 on back of 1.81 million shares. ALAFCO gained 5 fils and Kuwait Resorts Co followed suit. ACICO jumped 10 fils to KD 0.285. 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. Telecom major Zain was unchanged at KD 0.660 off early highs whereas Wataniya Telecom rose 20 fils extending an identical gain in the previous session. Agility retreated 20 fils to KD 0.680 and the stock has eased 10 fils so far during the month.
The market opened flat and moved sideways in early trade. The index edged higher almost an hour into the session helped by moderate buying interest in select counters. It peaked at 7739.21 pts in the final minutes and closed with modest gains. Top gainer of the day, Future Kid spiked over 9 percent to KD 0.120 while Gulf Finance House rallied 8.62 percent to stand next. Kuwait Cable Vision slid 8.93 percent, the steepest decliner of the day and Gulf Finance House also topped the volume with over 107 million shares changing hands. Mirroring the day's upswing, the market spread was skewed towards them winners. 62 stocks advanced whereas 41 closed lower. Of the 142 counters active on Monday, 39 closed flat. 9434 deals worth KD 43.74 million were transacted - a 13.74 percent increase in value from the day before.
Hilal Cement gained 8 fils and Equipment Holding Co rallied 10 fils on back of 5.6 million shares after closing higher in the day before. . United Industries Co however fell 2 fils to KD 0.160 whereas Jazeera Airways Co paused at KD 0.495. KGL Logistics Company slipped 5 fils to KD 0.250 whereas Kuwait Gulf Links was steady at KD 0.106. The company has incurred a net loss of KD 815,921 and loss per share of 3.09 fils in the first nine-months of 2013, narrowing from KD 5.79 million loss and 21.92 fils LPS in the year before period.
National Industries Group, the flagship company of Kharafi Group, was unchanged at KD 0.230 and Gulf Cable shed 10 fils. The company has earned KD 9.06 million and clocked an earnings per share of 43 fils in the first nine-months of 2013 as compared with net profit of KD 10.54 million and earnings per share of 50 fils in the same period last year. Metal and Recycling Co took in 2 fils whereas Kuwait Cement Company did not budge from its earlier close of KD 0.365 The company has completed the 2nd phase of subscription in increasing its capital by 7%, which was fully covered . The company's capital after the increase stands at KD 73.330 million. In the banking sector, National Bank of Kuwait rose 10 fils on back of 1.29 million whereas Gulf Bank and Commercial Bank held steady at KD 0.365 and KD 0.720 respectively. Al Ahli Bank was not traded during the session.
Ahli United Bank fell 10 fils to KD 0.710 whereas Kuwait International Bank was unchanged at KD 0.295. Burgan Bank clawed back from slight early loss to close flat at KD 0.560 and Kuwait Finance House followed suit. Boubyan Bank stagnated at KD 0.550. Kuwait Investment Co took in 2 fils and International Financial Advisors inched 1 fils lower. National Investment Co was up 2 fils at KD 0.158. The company has won the approval of Capital Markets Authority to its request to buy back or sell up to 10% of own shares over a period of 6 months. Securities House Co climbed 5 fils on back of 9.88 million shares whereas KIPCO paused at KD 0.650 off early lows. Securities Group Co added 2 fils and Bayan Investment Co was up by same measure. Kuwait Financial Centre (Markaz) held steady at KD 0.152.
Housing Finance Co slipped 5 fils after clocking 7.4 million shares while Sokouk Holding Co nudged 2 fils higher. Noor Financial Investment vacillated in a tight range before closing flat at KD 0.116 The bourse has been resurgent so far during the week and has rallied 72 points in last two sessions. The index has soared 188 points so far during the month recouping the losses during whole of December. KSE, with 213 listed companies, is the second largest bourse in the region. In the bourse related news, Aqar Real Estate Investments Co has won the approval of Capital Markets Authority for the, the company's request to buy back or sell up to 6.35% of own shares over a period of 6 months.
Warba Bank has logged a net loss of KD 3.12 million in the nine-month period ending Sept 30, 2013 and chalked a loss per share of 3.12 fils as against KD 2.06 net loss and and loss per share of 2.07 fils in the same period last year. Independent Petroleum Group has posted a net profit of KD 4.35 million in the first nine months of 2013 while earnings per share came in at 30.10 fils. This compares with KD 5.07 million net profit and earnings per share of 35.10 fils in the same period last year. Kuwait National Cinema has notched a net profit of KD 6.13 million earnings per share of 61.74 fils in the nine-month period ending September 2013, soaring from KD 4.73 million profit and earnings per share of 47.43 fils in the 9M period of 2012. Automated Systems Co has earned KD 1.45 million in the nine-month period ending Sep 30, 2013 while earnings per share stood at 36.27 fils. This compares with KD 4.01 million net profit and 100.26 fils EPS in the same period last year.