(MENAFN- Arab Times) KUWAIT CITY March 29: Kuwait stocks rebounded Sunday tracking the regional peers as fears over Yemen conflict eased. The market soared 100.3 pts in a broad rally to 6322.76 points led by banks and other heavyweights. The market mood was buoyant even as investors chased stocks on bargain buying.
The KSX 15 jumped 27.44 pts to 1045.78 pts trimming the month's losses to 81 points while weighted index climbed 9.31 points. The volume turnover meanwhile shrank below the 200 million mark after surging in the last session. 186.05 million shares changed hands - a 16.94 pct drop from Thursday. All sectors in the green turf barring consumer services which slipped 1.17 pct. Technology outshone the rest with 2.53 percent rally while financial stood next with 2.38 percent upswing. The Energy House slid 5.43 pct the steepest decliner of the day and Al Dar National Real Estate Co topped the volume with over 25.52 million shares. Among the notable gainers Mabanee Co vaulted 40 fils to KD 0.990 while Gulf Cable soared 50 fils to KD 0.620 extending the strong gains in the last session. Automated Systems Co and Kuwait Packing Materials Manufacturing Co gained 25 fils each. Sector major Zain rose 15 fils to KD 0.475 on back of 1.22 million shares while Wataniya Telecom held the ground unchanged at KD 1.440 and has shed 200 fils from start of the month. Kuwait Telecommunication Co was flat at KD 0.840 with a volume of 1.36 million shares whereas Agility added 10 fils to wind up at KD 0.790. National Bank of Kuwait gained 30 fils on back of 2.5 million shares and Kuwait Finance House followed suit. KFH has posted a net profit of KD 126.43 million and earnings per share of 29.68 fils in the year ended Dec 31 2014. The Board of Directors has recommended a cash dividend of 15 % plus 10 % bonus shares. Firm The market opened firm and rose sharply in early trading as investors piled into stocks across the board on bargain buying after plunge in the previous session. It plateaued thereafter and moved sideways past the mid-session before picking momentum again and closed with solid gains. Top gainer of the day Kuwait Real Estate Holding Co (Al Aqaria) spiked 10.42 pct to 26.5 fils and Investors Holding Co climbed 9.62 pct to stand next. The Energy House shed 5.43 pct the steepest decliner of the day and Al Dar National Real Estate Co topped the volume with 25.5 million shares. Reflecting the day's upswing the market spread was skewed towards the losers. 100 stocks advanced whereas 23 closed lower. Of the 143 counters active on Sunday 20 closed flat. 4540 deals worth KD 15.773 million were transacted - a 16.94 pct drop in value from the day before. National Industries Group rose 4 fils to KD 0.182 and Metal and Recycling Co followed suit. United Projects Co gained 20 fils. Kuwait Portland Cement paused at KD 1.400 and ACICO Industries Co closed 5 fils higher. NAPESCO and Kuwait United Poultry Company dialed up 10 fils each. Jazeera Airways climbed 10 fils whereas ALAFCO held the ground unchanged at KD 0.220. Kuwait Foundry Co pulled 10 fils lower and City Group slipped 5 fils. Eyas Fir Higher and Technical Education Co skidded 40 fils and KGL logistics was up 5 fils at 92 fils. KIPCO paused at KD 0.640 off early lows while Sokouk Holding took in 3 fils. 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. National Real Estate Co climbed 6 fils while Al Mazaya Holding Co took in 2 fils. The company has earned KD 8.086 million and clocked earnings per share of 13.05 fils in the year ending Dec 31 2014 as compared to net profit of KD 6.001 million and earnings per share of 9.69 fils in the year before. The Board of Directors has recommended a cash dividend of 6 %. In the banking sector Gulf Bank rose 5 fils and ABK gained 10 fils 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 %. Climbed Commercial Bank of Kuwait and Al Ahli Bank of Kuwait climbed 10 fils each and Al Ahli United Bank gained 20 fils. Burgan Bank fell 10 fils whereas Kuwait International Bank gave up 4 fils to settle at KD 0.246. Boubyan Bank was up 5 fils at KD 0.415 recouping the losses in the last session. Kuwait Investment Co rose 4 fils to KD 0.132 and National Investment Co followed suit to close at KD 0.130. Securities House Co too was up by 4 fils while First Investment Co and Bayan Investment added 3 fils each. Kuwait Financial Centre took in 2 fils and KAMCO followed suit to end at KD 0.114. Tamdeen Real Estate Co dialed down 5 fils while Aayan Real Estate Co nudged 2 fils up. The bourse had been downbeat during last week. It closed lower in four of the five sessions and skidded 212 week-on-week. The price index has tanked 478 points from start of the month and is down 4.79 pct year-to-date. KSE with 213 listed companies is the second largest bourse in the region. In the bourse related news Kuwait Gypsum Manufacturing and Trading has logged a net profit of KD 336262 and earnings per share of 11.25 fils in 2014 rebounding from net loss of KD 329 and loss per share of 0.01 fils in the year before. The Board of Directors recommended a cash dividend of cash 10 %. Warba Bank has recorded a net profit of KD 115000 and earnings per share of 0.12 fils in 2014 rebounding from net loss of KD 3.709 million and loss per share of 3.71 fils in 2013. Educational Holding Group has posted a net profit of KD 1.593 million earnings per share 6.5 fils in the three-month period ending November 30 2014 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 188238 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 668360 and earnings per share of 22.04 fils during 2014 and the Board of Directors has recommended a cash dividend of 15 %. By John Mathews - Arab Times Staff
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