(MENAFN- Arab Times) KUWAIT CITY April 28: Kuwait stocks edged slightly higher on Tuesday extending the gains to fourth straight session. The price index rose 3.51 pts in sluggish trading to close at 6360.11 points taking. The market sentiment was dull even as investors await fresh catalysts before taking up new positions.
The KSX 15 benchmark fell 4.6 points to 1050.34 pts shrinking the month's gains to almost 30 points while weighted index edged 1.21 points lower. The volume turnover meanwhile tumbled below the 300 million mark as investors toed the sidelines. 223.39 million shares changed hands a 21.14 pct drop from the day before. The sectors closed mostly in the green zone. Healthcare outpaced the rest with 0.88 Pct gain whereas technology shed 0.91 pct the worst performer of the day. In terms of volume financial services garnered the highest market share of 48.12 percent while real estate and industrials railed far behind with 25.1 percent and 10.26 pct contributions. In the share prices movement investment conglomerate KIPCO rose10 fils to KD 0.650 narrowing the year-to-date losses to 50 fils and Mabanee Co climbed 20 fils on back of 0.88 million shares. Kuwait Food Company (Americana) was unchanged at KD 2.640 after eking modest gains in the previous session. Sector bellwether Zain held steady at KD 0.490 off early lows while Wataniya Telecom dropped 20 fils to KD 1.400. Kuwait Telecommunications Co (VIVA) added 10 fils to settle at KD 0.900 whereas Agility pulled 10 fils lower to KD 0.770. Profit National Bank of Kuwait gave up 10 fils to wind up at KD 0.850 and Kuwait Finance House followed suit to end at KD 0.670. The bank has posted a net profit of 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. The market opened on a low note and edged higher in early trade. The main index ticked up and moved sideways before retreating slightly to trough at 6342.66 points. It bounced back half way into the session and moved thereafter in the vicinity of the opening level before closing with barely in the positive territory. Top gainer of the day Kuwait Gypsum Manufacturing and Trading Co soared over 9 percent to 120 fils while Kuwait Cable Vision Co climbed 8.47 percent to stand next. Qurain Holding Co plunged 12.12 pct the steepest decliner of the day and Gulf Finance House topped the volume with 32.4 million shares. Reflecting the day's uptick the winners outnumbered the losers. 52 stocks advanced whereas 41 closed lower. Of the 133 counters active on Tuesday 40 closed flat. 4928 deals worth KD 17.26 million were transacted - a 26.7 percent drop in value from the day before. Industrials heavyweight National Industries Group fell 4 fils to KD 0.188 and Kuwait Portland Cement dived 60 fils to KD 1.240. ACICO Industries Co shed 25 fils and Boubyan Petrochemicals Co pulled 10 fils lower to KD 0.600. Kuwait National Cinema Co dropped 20 fils to KD 1.020 Kuwait and Gulf Link Transport Co dialed up 1 fils whereas NICBM held the ground unchanged at KD 0.200. Heavy Engineering Industries and Shipbuiding Co was up 8 fils at KD 0.132. Humansoft Holding Co and Automated Systems Co paused at KD 0.710 and 86 fils respectively Jazeera Airways was flat at KD 0.520 and ALAFCO edged 2 fils lower to KD 0.220. The company has logged a net profit of KD 4.32 million and earnings per share of 5.28 fils in the three-month period ending Dec 31 2014 as compared to KD 4.35 million and earnings per Gulf Petroleum Investment Co eased 3 fils to 86 fils after trading 3.5 million shares whereas Combined Group Contracting Co stagnated at KD 0.900. Al Nawadi Holding Co dialed up 2 fils to end at KD 0.104. Flunked National Real Estate Co flunked 2 fils and Al-Mazaya Holding took in 2 fils. The company has clocked a net profit of net profit 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. Gulf Bank rose 5 fils to KD 0.275 and Al Ahli Bank was up by same measure to close at KD 0.370. The bank has posted a net profit of KD 9.1 million in the first quarter of 2014 as against KD 8.1 million in the same period in 2014.Earnings per share came in at at 6 fils as compared to 5 fils for the same period in 2014. Ahli United Bank and Kuwait International Bank were unchanged at KD 0.550 and KD 0.250 respectively and Burgan Bank too paused at KD 0.450 after trading in red earlier in the session. Boubyan Bank held steady at KD 0.435. Commercial Bank of Kuwait was not traded during the session. The bank has clocked a 16.8% growth in first quarter earnings. The bank posted a net profit of KD 6.32 million in the January-March period of 2015 as compared to KD 5.41 million in the same period last year. The earning per share stood at 4.5 fils. Commercial Facilities Co and National Investment Co took in 2 fils each whereas Kuwait Financial Centre ( Markaz) was down 8 fils at KD 0.110. Noor Financial Investment Co added 5 fils The bourse has been upbeat so far during the week and has climbed 29 points in last three sessions. The index has gained 78 points from start of the month and is trading 2.70 pct 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 KD 629298 and earnings per share of 14.17 fils in the January-March period of 2015 as against net profit of KD 281177 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 main market subject to fulfillment of some conditions. 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. 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. By John Mathews Arab Times Staff
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