(MENAFN- Arab Times) Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 6,230.09 points, down by 3.62 percent from the week before closing, the Weighted Index decreased by 4.77 percent after closing at 416.81 points, whereas the KSX-15 Index closed at 998.22 points, down by 6 percent. Furthermore, last week's average daily turnover increased by 42.11 percent, compared to the preceding week, reaching KD 30.78 million, whereas trading volume average was 206.62 million shares, recording a increase of 29.72 percent.
The stock market indicators closed at loss for the third consecutive week, in light of the continued control of the fear and panic state over the traders, whom increased the random selling operations, causing the stock market indicators to fall steeply, especially the KSX-15 Index which witnessed a noticeable decline during most of the week's sessions. Also, the stock market initiated its first sessions of the week with a decrease to all of its indicators, among a low trading activity compared to the previous session, in light of the selling trend that overwhelmed the market during the same time, which concentrated on the large-cap and blue-chip stocks, and was reflected on the KSX-15 Index to lose the 1,000 point level, after the sharp decline of about 5 percent, considered the largest daily loss of the Index since inception in May 2012.
On the second session, the stock market was able to realize limited gain for its three indices, among a mixed trading activity, as the market value continued to drop, whilst the stocks volume grew noticeably. In addition, the stock market was able to increase supported by the random purchasing operations that targeted some operational stocks, whereas it returned to the red zone on Tuesday's session, after being affected by the steep decreases that hit the GCC stock markets caused by the drop in the oil prices levels to below $60, among a random selling operations that executed on many listed stocks in many sectors, both large and small-cap stocks, which caused the stock market indicators to decline to very low levels, never witnessed in a while.
Moreover, on Wednesday's session, the stock market indicators continued to record losses, among trading of selling nature, in light of the continued presence of the negative factors such as the lack of new motivators to push the investors towards purchasing. Furthermore, the stock market was able to compensate a part of the week's losses on Thursday's session, by realizing the three indices relatively good gains, among a purchasing activity that included most of the traded stocks, especially in the Real Estate and the Financial Services sectors, which were the most gainers among the other market sectors by the end of the session.
For the annual performance, the price index ended last week recording 17.48 percent annual loss compared to its closing in 2013, while the weighted index decreased by 7.96 percent, and the KSX-15 recorded 6.57 percent loss. Sectors' Indices All of KSE's sectors ended last week in the red zone. Last week's biggest loser was the Telecommunications sector, as its index declined by 16 percent to end the week's activity at 491.18 points. Whereas, in the second place, the Financial Services sector's index closed at 792.95 points recording 4.86 percent decrease. The Health Care sector came in third, as its index closed at 914.76 points at a loss of 4.65 percent.The Consumer Goods sector was the least declining as its index closed at 1,179.32 points with a 0.76 percent decrease.
Sectors' Activity
The Financial Services sector dominated a total trade volume of 499.81 million shares changing hands during last week, representing 48.38 percent of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector's traded shares were 15.18 percent of last week's total trading volume, with a total of 156.85 million shares. On the other hand, the Banks sector's stocks were the highest traded in terms of value; with a turnover of KD 59.76 million or 38.83 percent of last week's total market trading value. The Telecommunications sector took the second place as the sector's.
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.