(MENAFN- Arab Times) Kuwait stocks closed higher on Monday extending the gains to third consecutive session. The price index rose 15.75 pts in lackluster trade led by some of the mid and small caps. The banks and other blue chips ended mixed in a narrow range. The KSX 15 benchmark inched 0.54 pts up to 1,054.94 points taking the month's gains to 33 points whereas weighted index nudged 0.12 points higher. The volume turnover meanwhile rose for the fourth straight session. 387.87 million shares changed hands - a 5.79 percent rise from the day before.
The sectors diverged during the session. Oil and gas outshone the rest with 1.67 pct gain whereas healthcare dropped 1.09 pct, the worst performer of the day. In terms of volume, real estate clocked the highest market share of 41.90 percent while financial services came next with 33.68 percent, Industrials was a distant third with 8.29 pct contribution.
Among the day's movers, Kuwait Food Co (Americana) climbed 20 fils to KD 2.640 partly paring the loss in the previous session and is down 60 fils from start of the month while investment major KIPCO was up 10 fils at KD 0.640. Mabanee Co slipped 10 fils to KD 0.940
Market heavyweight Zain eased 5 fils to wind up at KD 0.490 and Wataniya Telecom retreated 20 fils to KD 1.420 with thin trading. Kuwait Telecommunications Co pared back Sunday's loss with 10 fils rise and Agility followed suit to end at KD 0.780.
Flat
Banking sector bellwether National Bank of Kuwait was flat at KD 0.860 whereas Boubyan Bank dialed up 5 fils. The bank has clocked a net profit of KD 7.37 million and earnings per share of 3.58 fils in the first quarter of 2015 , up from KD 5.68 net profit and earnings per share of 2.76 fils in Jan- March period of 2014.
The market opened on sluggish note and moved flat in early trade. The key index slipped slightly into red thereafter to plumb the day's lowest level of 6332.77 points almost half way into the session, It however clawed back in the second half and closed with modest gains.
Top gainer of the day, Al Qurain Holding Co spiked 10 percent to 16.5 fils and Flex Resorts and Real Estate Co climbed 9.43 pct to stand close behind. Yiaco Medical Co slumped 7.81 pct, the steepest decliner of the day and Investors Holding Co topped the volume with 110.3 million shares.
Mirroring the day's upswing, the market spread was skewed towards the winners. 53 stocks advanced whereas 42 closed lower. Of the 131 counters active on Monday, 36 closed flat. 6249 deals worth KD 23.55 million were transacted - a 12.7 percent rise in value from the day before.
National Industries Group took in 2 fils to settle at KD 0.192 whereas Gulf Cable pulled up from early losses to close flat at KD 0.640. Shuaiba Industrial Co gave up 5 fils and Boubyan Petrochemicals Co gained 10 fils to end at KD 0.610.
City Group slipped 5 fils to KD 0.400 whereas Independent Petroleum Group pulled 20 fils higher. The company has posted a net profit of KD 3.70 million and earnings per share 25.60 fils in the year ending Dec 31, 2014 and the Board of Directors has recommended a cash dividend of 25 percent.
NICBM held steady at KD 0.200 and The Energy House too did not budge from its earlier close. The company has logged a net loss of KD 1.024 million and loss per share of 1.366 fils in the three months of the year ending March 31, as against a net profit of KD 234,309 earnings per share of 0.312 fils in the same period last year.
ALAFCO was flat at KD 0.222 whereas Jazeera Airways added 10 fils to wind up at KD 0.520. Kuwait and Gulf Links Transport Co dialed up 2 fils on back of 3.3 million shares and KGL Logistics Co closed 3 fils higher.
Automated Systems Co shed 10 fils whereas Humansoft Holding Co was unchanged at KD 0.710. Burgan Well Drilling Co was up 4 fils at KD 0.150 with thin trading volume.
Lower
National Real Estate Co took in 2 fils whereas Al-Mazaya Holding edged 2 fils lower. The company has clocked a net profit of KD 1.71 million and earnings per share of 2.77 fils in the 3 month period ending March 31, 2015 as compared to net profit of KD 1.47 million and earnings per share of 2.37 fils in the same period last year.
In the banking sector, Gulf Bank and Al Ahli Bank gave up 5 fils to end at KD 0.270 and KD 0.365 respectively whereas Ahli United bank held steady at KD 0.550. Commercial Bank of Kuwait was not traded during the day.
Kuwait International Bank and Burgan Bank closed flat and KFH too paused at KD 0.680. The bank has posted a net profit o KD 29.9 million in the first three months of 2015 as compared to KD 26.1 million in the same period last year. Earnings per share increased by 1% to 6.12 fils over the same period last year. Total revenue increased by 1% to KD 224.4 mln over the same period last year.
Kuwait Investment Co eased 2 fils to KD 0.134 whereas National Investment Co stagnated at KD 0.130. Kuwait Financial Center ( Markaz) was steady at KD 0.118 whereas KAMCO closed 2 fils higher.
The bourse has been positive so far during the week and has climbed 25 points in last two sessions. The index has gained 74 points from start of the month and is trading 2.74 percent lower year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region.
In the bourse related news, Gulf Glass Manufacturing Co has posted a net profit of KD 629,298 and earnings per share of 14.17 fils in the Jan-March period of 2015 as against net profit of KD 281,177 and earnings per share of 6.33 fils in Q1 of 2014.
Sokouk Holding has clocked a net profit of KD 5.012 million and earnings per share of 9 fils in the year ending Dec 31, 2014 and the Board of Directors recommended 5 percent bonus shares. Capital Markets Authority has approved the listing of Mizan Holding Company in Kuwait Stock Exchange's main market subject to fulfillment of some conditions.
Warba Bank has recorded a net profit of KD 115,000 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.
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.
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