Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait- KSE Index Closes Flat Amid Lackluster Trade  Join our daily free Newsletter

MENAFN - Arab Times - 31/03/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Kuwait stocks trod water Sunday after posting modest gains in the previous week. The benchmark inched 0.76 pts lower to 7,584 pts in lackluster trading to close at 7,584 points.

Some of the banks were weighed by profit taking whereas select mid and small caps shined on speculative buying. The market, earlier last week, was buoyed by CMA's soft stance on implementing strict corporate governance rules. The KSX 15 gauge retreated slightly after chalking strong gains in the last week. It edged 1.15 pts lower to 1,192.72 pts trimming the month's gains to 91 points while weighted index eased 0.45 pts. The volume turnover meanwhile rose after receding in the last two sessions. Over 211 million shares change hands - a 19.87 pct rise from the last session.



The sectors closed mixed. Technology outshone the rest with 0.54 percent upswing whereas consumer services shed 1.29 percent, the weakest performer of the day. In terms of volume, financial services garnered the highest market share of 35.42 pct while real estate and industrials followed with 29.90 percent and 12.13 pct respectively. Among the notable losers Ahli United Bank dipped 40 fils to KD 0.750 while Commercial Bank was down 20 fils extending the losses from the previous session. Kuwait Finance House gave up 10 fils with a volume of 8.3 million and Gulf Bank followed suit to end at KD 0.370. Kuwait Foundry Co shed 20 fils to end at KD 0.330 and Kuwait Co For Process Plant Construction and Contracting was down by same measure. National Industries Group, the flagship company of Kharafi Group fell 5 fils to end at KD 0.255 and the counter saw almost 5 million shares change hands



Steady

Among the frontline stocks, Zain held steady at KD 0.680 after vacillating in a narrow range with a volume of over 6.2 million shares and Wataniya Telecom too paused at KD 1.740. Agility added 20 fils with brisk trading to wind up at KD 0.770 and has rallied 90 fils so far during the month. The market opened flat and moved sideways in early trade. The index hit the day's highest level of 7594.18 points and continued to tread a linear trajectory thereafter as investors toed caution. It edged lower in the second half and troughed at 7563.1 pts in the final minutes before paring back most of the losses at close .





Top gainer of the day, Kuwait Remal Real Estate Co spiked 10 percent to KD 0.110 while Al Mudon climbed 8.62 pct to stand next. Al Nawadi Holding Co plunged over 8 percent, steepest decliner of the day, and Al Mudon topped the volume with 8.62 million shares.



Reflecting the day's trend the winners and losers were almost evenly poised. 50 stocks advanced whereas 48 closed lower. Of the 157 counters active on Sunday, 59 closed flat. 4,796 deals worth KD 42.78 million were transacted - a 10.18 percent rise in value from the day before.



IFA Hotels and Resorts fell 10 fils and Egypt Kuwait Holding Co closed 5 fils lower. Egypt Kuwait Holding climbed 7.14 pct to stand next.



The company has registered a net profit of KD 20.167 million and earnings per share of 24.02 fils in the year ending Dec 31, 2013, up from KD 18,9 million profit and earnings per share of 22.54 fils in the year befor



Gulf Cables was flat at KD 0.780 and Kuwait Cement Co follwed suit. The company has registered a net profit of KD 17.16 million and earnings per share of 26.14 fils in the year ending Dec 31, 2013.The Board of Directors has recommended a cash dividend of 18 %




Combined Group Contracting Co was unchanged at KD 1.160 off early highs and Automated Systems Co too did not budge from its earlier close of 0.KD 0.480. The company has posted a net profit of KD 1.48 million and earnings per share of 37.17 fils in the year ending 2013 as against net profit of KD 4.04 million and earnings per share of 101.08 fils in the year before period



Rallie

On the upside, Kuwait Portland Cement gained 20 fils while Kuwait Food Co (Americana) rallied 40 fils to KD 2.540 and Mashaer Holding Co was up 8 fils at KD 0.255. City Group jumped 25 fils to KD 0.445 and Humansoft Holding followed suit to close at KD 0.370



ACICO Industries Co rose 5 fils while NICBM and Metal and Recycling Co took in 2 fils each. Jazeera Airways was steady at KD 0.460 and ALAFCO too did not budge from its earlier close of 0.255. Kuwait Gulf Links stagnated at KD 0.100 off early lows.



In the banking sector, National Bank of Kuwait was flat at KD 1.000 whereas Al Ahli Bank of Kuwait gained 20 fils. Burgan Bank was flat at KD 0.570 and Boubyan Bank followed suit. Kuwait International Bank eased 5 fils . The bank has chalked a net profit of KD 13.20 million and earnings per share of 14.15 fils in the year ending Dec 31, 2013.



Kuwait Investment Co was unchanged at KD 0.162 and National Investment Co ticked 2 fils higher. KFIC rose 3 fils whereas KIPCO and KAMCO closed flat at KD 0.710 and KD 0.126 respectively. Noor Financial Investment Co closed 4 fils higher .



The bourse was largely upbeat during last week. The index closed higher in three of the five sessions and climbed 27 points week-on-week. The price index has shed 108 pts from start of the month and is up 0.47 pct year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region



In the bourse related news, Kuwait and Middle East Finance Investment Company edged 2 fils lower. The company has logged a net profit of KD 1.160 million and earnings per share of 4.4 fils in 2013, as compared to KD 1.164 million loss and loss per share of 4.5 fils in the previous year.



Al Madar Finance and Investment has recorded a net profit of KD 3.58 million and earnings per share of 17.34 fils in 2013, rebounding from KD 7,60 million loss and loss per share of 36.73 fils in the previous year.



Strategia Investment has posted a net profit KD 3.36 million and earnings per share of 13.75 fils in 2013, rebounding sharply from KD 10,514 profit and earnings per share of 0.07 fils in the year before.



Kuwait Pipes Industries and Oil Services has incurred a net loss of KD 10.16 million and loss per share of 45.10 fils in the nine-month period ending 30 Sept 2013, widening from KD 3.21 million loss and loss per share of 14.25 fils in the same period last year.



Mashaer Holding has posted a net profit of KD 3.64 million and earnings per share of 20 fils during 2013 as against KD 4.31 million profit and earnings per share of 25 fils in the year before. The Board of Directors has recommended a cash dividend of 15 %

 


Arab Times




  MENA News Headlines
 May 5 2016 - Four wounded after rockets hit Turkey's KilisThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) >Four people including a police officer were wounded after rockets fired from Islamic State of Iraq and the Levant (ISIL)-controlled territory hit the ...

 May 5 2016 - Turkey- Delegation from Turkish opposition party detained in IsraelThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) >A delegation from Turkey’s far-right Great Unity Party (BBP) was detained at Israel’s Tel Aviv airport early on May 5 the party and CNN Türk ...

 May 5 2016 - ISIL must be pushed back in northern Syria: Turkish ministerThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The Islamic State of Iraq and the Levant (ISIL) must immediately be pushed back from the Turkish border said Turkish Foreign Minister Mevlüt ...

 May 5 2016 - Jordan- Deputizing for King Royal Court chief receives US delegationJordan News Agency
(MENAFN - Jordan News Agency) Amman May 5 (Petra)--Deputizing for His Majesty King Abdullah II Royal Court Chief Fayez Tarawneh on Thursday received a delegation of US congressional aides currently ...

 May 5 2016 - Jordan- Deputizing for King Prince Faisal attends Israa wal Miraj celebrationJordan News Agency
(MENAFN - Jordan News Agency) Amman May 5 (Petra)--Deputizing for His Majesty King Abdullah II His Royal Highness Prince Faisal Bin Al Hussein on Thursday attended a grant religious ceremony held by ...

 May 5 2016 - Jordan, Palestine sign cultural cooperation programJordan News Agency
(MENAFN - Jordan News Agency) Ramallah April 5 (Petra)--Palestinian Prime Minister Rami Al Hamdallah on Thursday discussed with Culture Minister Lana Mamkigh means to boost cooperation and ...

 May 5 2016 - Jordan- PM meets investors in energy sectorJordan News Agency
(MENAFN - Jordan News Agency) Amman May 5 (Petra)--Prime Minister Abdullah Ensour on Thursday received businessman Tariq Al Abdullah and a delegation representing a group of international companies ...

 May 5 2016 - Qatar- Filipinos to celebrate Independence DayThe Peninsula
(MENAFN - The Peninsula) Philippine Ambassador Wilfredo C Santos (fourth left) cutting a cake along with UFOQ Chairman Edgar Anami (third left) Miss Tourism International Philippines 2015 Janela Joy ...

 May 5 2016 - Qatar- A hot day with maximum temperature around 38 degree celsiusThe Peninsula
(MENAFN - The Peninsula) Doha: The weather forecast for Qatar valid until 6pm Thursday inshore will be hot during with slight dust offshore will be hazy to misty with some clouds. Wind speed ...

 May 5 2016 - 2016 a bright year for Egypt's gymnastsDaily News Egypt
(MENAFN - Daily News Egypt) Egyptian female gymnasts have recently been making leaps and bounds in the competitive arena.This year, Sherine El-Zeiny won gold at the African Gymnastics Championships ...

 May 5 2016 - Egyptian clubs GSC, HSC take silver and bronze at Arab Water Polo Clubs ChampionshipDaily News Egypt
(MENAFN - Daily News Egypt) Saudi Arabian water polo club, Al-Qadisiyah, won the 13th edition of the Arab Water Polo Clubs Championship which was held at the Heliopolis Sporting Club (HSC) in ...

 May 5 2016 - Egyptian champions dominate squash tournamentsDaily News Egypt
(MENAFN - Daily News Egypt) Egyptian Mohamed Al-Shorbagy won the 2016 El-Gouna International Squash Open.In the final match, Al-Shorbagy defeated France's Gregory Gaultier in what was an unexpected ...

 May 5 2016 - Interview: Egyptian swimmer Farida OsmanDaily News Egypt
(MENAFN - Daily News Egypt) Nicknamed the Golden Fish, Farida Osman has won countless medals and has performed spectacularly in competitions. Among the many Egyptian athletes who have qualified for ...

 May 5 2016 - Mohammed bin Rashid greets UAE Armed Forces founders visionEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 5th May 2016 (WAM) -- Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has extended ...

 May 5 2016 - UAE- Mohamed bin Zayed: Our armed forces will steadily progress to be an extraordinary force able to face all threatsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 5th May 2016 (WAM) -- His Highness Sheikh Mohamed bin Zayed Al Nahyan Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed ...

 May 5 2016 - Egypt's foreign exchange reserves gain $450m in April: CBEDaily News Egypt
(MENAFN - Daily News Egypt) The Central Bank of Egypt (CBE) revealed Wednesday that Egypt's net international reserves increased by approximately $450m in April 2016.It explained in a statement on ...

 May 5 2016 - Tahya Misr launches first education investment fund with EGP 100mDaily News Egypt
(MENAFN - Daily News Egypt) Tahya Misr Fund launched the first fund for profitable investment in education at an estimated cost of EGP 100m in the first phase, according to executive director of the ...

 May 5 2016 - King Salman's bridge creates expectations of increased Gulf investments in tourism sectorDaily News Egypt
(MENAFN - Daily News Egypt) Workers in the tourism sector expect an increase in tourist investments, especially in the Gulf of Aqaba across several touristic towns and cities such as Sharm El-Sheikh, ...

 May 5 2016 - Egypt's technical education is still woundedDaily News Egypt
(MENAFN - Daily News Egypt) Bassera, the Egyptian centre for research and public opinion, estimated that the private sector contributed to developing the Egyptian education system with 9% in funding ...

 May 5 2016 - Kuwait- His Highness PM arrives in HanoiKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) HANOI May 5 (KUNA) -- His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah and his accompanying delegation arrived in Hanoi on Thursday on an ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help