(MENAFN- Arab Times) KUWAIT CITY, Feb 1: Kuwait stocks kicked off the month on a high note even as sentiment got a boost from an uptick in the oil prices. The bourse rebounded 64.45 pts to 6,636.71 points helped by buying in some of the mid and small caps. The banks were mostly subdued while other heavyweights closed mixed.
The KSX 15 benchmark rose 10.99 points to 1,083.69 pts taking the year's gains to 12 points while weighted index closed 3.51 points higher. The volume turnover meanwhile was almost flat after receding in the last session. 238.24 million shares changed hands - a 0.81 pct fall from Thursday.
The sectors closed mostly in the green turf. Telecommunications outshone the rest with 2.03 pct jump whereas technology shed 1.22 percent, the biggest loser of the day. In terms of volume, financial services garnered the highest market share of 56 percent while real estate and industrials trailed far behind with 17.12 percent and 9.83 percent contributions respectively.
Among individual stocks, Kuwait Food Co (Americana) climbed 20 fils to KD 2.740 trimming the year's losses to 60 fils and KIPCO rallied 10 fils KD 0.710 on back of 1.63 million shares. Mabanee Co added 10 fils after stagnating the in day before.
Sector bellwether Zain gained 20 fils with a volume of over 4 million while Wataniya Telecom shed 20 fils. Agility was up 10 fils at KD 0.800 and is taking the year's gains to 60 fils.
Kuwait Finance House rose 10 fils whereas Boubyan Bank The bank has clocked a net profit of KD 28.23 million and earnings per share of 14.39 fils in the year ending De 31, 2014 as against net profit of KD 13.408 million and earnings per share of 6.83 fils in the same period last year. The Board of Directors recommended a cash of 5 percent plus 5 pct bonus shares.
Firm
The market opened firm and edged higher in early trade. The main index moved sideways as investors toed the sidelines. It revved up in the second half amid buying in select counters and closed with impressive gains.
Top gainer of the day, Contracting and Marine Services Co vaulted 10 percent to KD 0.110 while Arkan Real Estate Co climbed 8.5 pct to stand nexrt. Madar Finance Co slid 9.26 percent to stand next. Madar Financce Co tumbled 9.26 percent, the steepest decliner of the day, and Gulf Finance House topped the volume with 48.8 million shares.
Reflecting the day's gains, the winners outnumbered the losers. 79 stocks advanced whereas 28 closed lower. Of the 141 counters active on Sunday, 34 closed flat. 5,594 deals worth KD 23.60 milikon were transacted - a 3.45 pct increase from the day before.
National Industries Group was flat at KD 0.190 after gyrating in a tight range whereas Kuwait Foundry Co The company has logged a net profit of KD 2.26 million and earnings per share of 14.74 fils in the first nine-months of 2014, as against KD 2,13 million profit and earnings per share 13.9 fils in the 9M of 2013.
ACICO Industries Co climbed 5 fils to KD 0.300 while Equipment Holding Co added 4 fils to close at KD 0.106. Gulf Cable was unchanged at KD 0.660 and Qurain Petrochemical Industries Co closed 4 fils higher.
Jazeera Airways rose 5 fils to KD 0.470 o while Mashaer Holding gained 8 fils. Burgan Well Drilling Co was steady at KD 0.168 and Combined Group Contracting Co followed suit.
ALAFCO took in 2 fils and Kuwait Gulf Links and Trasnport followed suit. KGL Logistics paused at KD 0.104. Advanced Technology Compant pulled 10 fils lower to KD 0.910. The Energy House rose 4 fils to KD 0.112 and PetroGulf ticked 2 fils up.
National Real Estate Co climbed 4 fils to KD 0.140 on back of over 4 million shares and Mazaya Holding Co edged 2 fils higher to KD 0.130.
In the banking sector, National Bank of Kuwait was flat at KD 0.900 and Gulf Bank followed suit to close at KD 0.305. Burgan Bank paused at KD 0.460 Kuwait International Bank closed flat at KD 0.260 Ahli United Bank stagnated at KD 0.650 off early lows.
Session
Commercial Bank of Kuwait and Al-Ahli Bank of Kuwait were not trade during the session. ABK has recorded a net profit of KD 37.586 million and earnings per share of 23 fils during 2014, up from net profit of KD 35.425 million and earnings per share of 22 fils in 2013. The Board of Directors has recommended a cash dividend of 13 percent.
Kuwait Investment Co took in 2 fils and Sokouk Holding inched 1 fils up. The company has clocked a net profit of KD 5.012 million and earnings per share of 9 fils in the year ending Dec 31, 2014 down from net profit of KD 18.22 million and earnings per share of 35 fils in the year before. The Board of Directors recommended 5 percent bonus shares.
KFIC climbed 4 fils to 63 fils while Kuwait Financial Centre and Bayan Investment Co added 2 fils each. Noor Financial Centre rose 5 fils to 91 fils. Al Mal Investment clipped 2 fils whereas Tamdeen Investment Co closed flat.
National Investments Company rose 6 fils to end at KD 0.152 and Securities House Co added 4 fils. Al Salam Group Holding Co edged 2 fils higher to 66 fils.
The bourse was mixed during last week. It closed lower in 3 of the 5 sessions and dived 96 points week-on-week. The price index had gained 33 points during last month after shedding 13.43 pct during whole of 2014. KSE, with 213 listed companies, is the second largest bourse in the region.
In the bourse related news, Educational Holding Group has posted a net profit of KD 1.593 million earnings per share 6.5 fils as against net profit of KD 1.377 million and earnings per share of 5.6 fils in the same period last year.
Alsalam Group Holding has registered a net profit of KD 1.974 million and earnings per share of 7.69 fils in 2014, up from net profit of KD 188,238 and earnings per share of 0.73 fils last year. The Board of Directors has recommended 5 percent bonus shares.
Kuwait Building Materials has posted a net profit of KD 668,360 and earnings per share of 22.04 fils during 2014 and the Board of Directors has recommended a cash dividend of 15 percent.
Hilal Cement Co has recorded a net loss of KD 282,090 and loss per share of 4 fils in the January-September period as compared to net profit of KD 276,924 and earnings per share of 4 fils in the year before period.
Al Masaken Intl Real Estate Dev Co has won the approval of Capital Markets Authority to buy back or sell up to a maximum of 10 percent of its shares for 6 months.
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