Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Small-cap shares dominate Kuwait stock market  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 25/08/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Kuwait News Agency (KUNA)) The traders' growing interest in small-capitalization stocks was the main driver of Kuwait stock market since the start of 2014 amid remarkable drop in trading on large-cap stocks due to the lack of catalysts, concurred several financial analysts.

In separate interviews with KUNA, the analysts said some portfolios and investment funds focus on small to med-cap shares have helped the market achieve some gains even with the low activity of large-cap stocks.

"The majority of investors have been focusing on small-cap stocks, whose value is below 100 fils each, since the beginning of the year. Now, they are showing even great interest in the micro-cap ones, whose value is below 50 fils," Financial Analyst Mohammed Al-Tarrah told KUNA.

"This is because of its low price and fast circulation pace." Financial analyst Adnan Al-Dulaimi echoed a similar view.

"It is very clear that the small-cap stocks are dominating the market," Al-Dulaimi told KUNA.

"For example, in today's Sunday's session, over 90 percent of the trading was on small and med-cap stocks and the remaining was on large-cap ones." "This shows that small-cap stocks are very popular among investors in Kuwait stock market," he said.

Meanwhile, Financial Analyst Hamad Al-Shammari said the Kuwaiti stock market is dominated by speculation rather than serious investment based
on firms performance.

"The growing speculative behavior and the lack of technical catalysts pushed many of market makers to depart to rival Gulf markets," Al-Shammari told KUNA.

"Though the small-cap stocks are the now backbone of the market, the movements of large-cap stocks are most significant for the market." Kuwait Stock Exchange ended Sunday's trading on mixed board, with the price index in the green zone as it reached 7,392.18 points, gaining 41.84 points.

However, the weighted index stood at 492.45 points, losing 1.99 points and the KSX 15 reached 1,202.86 points, shedding 10.13 points.

Number of trades reached 5,337, while the total value of shares was KD 21,245,072.589 with a volume of 269,686,639.

Top gainers were (HUMANSOFT), (PEARL), (GPI), (FLEX) and (SECH). Top volume stocks were (GFH), (ABYAAR), (ALMADINA), (SENERGY) and (GPI).

 


Kuwait News Agency (KUNA)




  MENA News Headlines
 Jun 30 2015 - Major Movers: Capital Lease Aviation Mountfield Group Motive TV San Leon Energy Wim SinclairProactiveInvestors - UK
(MENAFN - ProactiveInvestors)Below are some of the main news-driven share price changes at 10.30am. RISERS Capital Lease Aviation (LON:CLA) up 12.4%. The commercial passenger aircraft leasing company ...

 Jun 30 2015 - UPDATE - Northcote Energy starts new well at Shoats CreekProactiveInvestors - UK
(MENAFN - ProactiveInvestors)-ADDS DETAIL FROM FINANCIAL RESULTS STATEMENT- Northcote Energy (LON:NCT) has begun drilling operations on a new well at the Shoats Creek property in Louisiana. The ...

 Jun 30 2015 - Obtala puts a little more meat on the bones of divestment planProactiveInvestors - UK
(MENAFN - ProactiveInvestors)Obtala Resources (LON:OBT) said its strategy for 2015 will revolve around spinning out the timber business from the farming and retail businesses in order to realise more ...

 Jun 30 2015 - SolGold sees consistent copper shows in latest hole at CascabelProactiveInvestors - UK
(MENAFN - ProactiveInvestors)SolGold's (LON:SOLG) final assays from the eleventh hole at Cascabel showed copper indications continued over the final 600m. A bulk interval of 636m at 0.58% copper and ...

 Jun 30 2015 - Jubilee pays second tranche for DCMProactiveInvestors - UK
(MENAFN - ProactiveInvestors)Jubilee Platinum (LON:JLP) said it had handed over the second of three share-based payments for the DCM project in South Africa for £207000 as it revealed it has received ...

 Jun 30 2015 - Madagascar Oil poised for catalysts as Tsimiroro advancesProactiveInvestors - UK
(MENAFN - ProactiveInvestors)It is very rare for a company as small as Madagascar Oil (LON:MOIL) to have a resource as large as Tsimiroro so says recently appointed chief executive Robert Estill. ...

 Jun 30 2015 - Sula expects gold trench results within three weeksProactiveInvestors - UK
(MENAFN - ProactiveInvestors)Sula Iron & Gold (LON:SULA) expects to report recent gold programme results from its Ferensola project in Sierra Leone in coming weeks as discussions continue it said ...

 Jun 30 2015 - Dubai plans to build 3 D printed office buildingArab News
(MENAFN - Arab News) DUBAI United Arab Emirates: Fast-growing Dubai where something new is always being added to the skyline may have found a way to make construction move even faster. The Gulf ...

 Jun 30 2015 - Top Philippine police chief 10 others ordered dismissed over contractArab News
(MENAFN - Arab News) MANILA Philippines: The Philippines' anti-graft prosecutor on Tuesday ordered the national police chief and 10 other officers dismissed from the service for approving a contract ...

 Jun 30 2015 - Al Omaniya to acquire United FinanceMENAFN
(MENAFN) Al Omaniya is set to submit a full acquisition offer for Oman's United Finance, a deal which UF's board has been considering for a while, Reuters reported.Last month, United Finance asked ...

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