(MENAFN- Arab Times) Kuwait stocks pulled higher on Sunday after posting impressive gains during last week. The price index climbed 12.5 pts in wavy trading to 6389.51 points led by some of the banks. The market sentiment was cautiously positive even as investors eyed fresh cues. The KSX 15 benchmark edged 0.45 pts lower to 1059 .28 points and is almost flat from start of the year while weighted index ticked 0.73 pts up. The volume turnover meanwhile swelled after falling sharply in the previous session. 293.38 million shares changed hands - a 21.10 pct jump from Thursday. The sectors closed mostly in the positive turf. Basic materials outshone the rest with 0.93 percent gain whereas healthcare shed 0.73 percent, the biggest loser of the day. In terms of volume financial services accounted for the highest market share of 31.02 percent while real estate stood next with 29.38 pct. Consumer goods was distant third with 12.38 percent contribution.
Among the individual performers, Commercial Bank of Kuwait climbed 30 fils to KD 0.650 taking the year's gains to 20 fils while Gulf Bank was up 5 fils at KD 0.280 after stagnating in the previous session. Ahli United Bank added 10 fils to settle at KD 0.550.
Bourse heavyweight Zain was unchanged at KD 0.485 after vacillating in a tight range and Wataniya Telecom held steady at KD 1.420. Kuwait Telecommunication (VIVA) slipped 10 fils to KD 0.870 and Agility did not budge from its earlier close of KD 0.790.
Gained
National Investment Co took in 2 fils and investment major KIPCO gained 10 fils to settle at KD 0.670. The company has posted a net profit of KD 12 million for the first three months of 2015 - an increase of 17 per cent from the same period last year. Earnings per share grew by 24% to 8.84 fils from first quarter of 2014 and operating profits before provisions rose 9 pct to KD 37 million.
The market opened firm and headed north in early trade. The main gauge hit the day's highest mark of 6414.2 pts amid buying in select counter and moved sideways for almost an hour. It retreated thereafter and bottomed at 6373.9 pts in the final minutes before ending with marginal gains.
Top gainer of the day, Hits Telecommunications Co rallied 7.69 pct to 35 fils and International Financial Advisers climbed over 7 percent to stand next. Zimah Holding slumped 11.24 percent, the steepest decliner of the day, and Hits Telecommunications topped the volume with 31.69 million shares.
Reflecting the day's uptick, the market spread was heavily skewed towards the winners. 63 stocks advanced whereas 36 closed lower. Of the 132 counters active on Sunday, 33 closed flat. 5528 deals worth KD 20.5 million were transacted - a 9.58 percent rise in value from the day before.
National Industries Group was flat at KD 0.188 and Gulf Cable shed 20 fils to settle at KD 0.620. Kuwait Portland Cement was unchanged at KD 1.280 after posting strong gains in the previous session.
Shuaiba Industrial Co closed 5 fils higher and Equipment Holding ticked 1 fils up to 82, fils. Boubyan Petrochemicals Co gained 10 fils and Qurain Petrochemical Co added 4 fils to end at KD 0.210. City Group scaled 25 fils.
Jeeran Holding took in 2 fils and The Energy House followed suit .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.
On the downside, Kuwait Food Co (Americana) plunged 60 fils to KD 2.600 and Humansoft slid 50 fils to end at KD 0.650. NAPESCO shed 20 fils and Zima Holding gave up 10 fils. ALAFCO clipped 2 fils and Jazeera Airways held steady at KD 0.520.
In the banking sector, Kuwait Finance House paused at KD 0.680 and National Bank of Kuwait followed suit. 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 January- March period of 2014.
Lows
Ahli United Bank gained 10 fils whereas Burgan Bank paused at KD 0.450 off early lows. Kuwait International Bank slipped 5 fils and Burgan Bank held steady at KD 0.450. Boubyan Bank was down 5 fils at KD 0.435 erasing the gains in the previous session.
Kuwait Financial Centre gained 6 fils whereas Noor Financial Investment Co pulled 4 fils lower to 94 fils. Alsalam Group Holding Co and Ekttitab Holding Co added 2 fils each whereas Tamdeen Investment Co paused at KD 0.375.
Tamdeen Real Estate Co shed 10 fils and Al Mazaya Holding Company nudged 2 fils higher. The company has posted a net profit of KD1.71 million in the first quarter of 2015 and earnings per share clocked 2.77 fils, as compared to 2.37 fils in same period of 2014.
Mabanee Co pulled 10 fils lower to KD 0.960 paring back the gains on Thursday and Alargan International Real Estate Co jumped 10 fils.
The bourse was upbeat during last week. The index closed higher in all the five sessions and gained 46 points week-on-week. It has rallied 95 points during whole of April and is trading 2.24 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 629,298 and earnings per share of 14.17 fils in the January-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 main market subject to fulfillment of some conditions.
Kuwait Foundry Co 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.
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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