(MENAFN- Arab Times) Kuwait stocks edged slightly lower on Sunday extending the loss to second straight session. The main index eased 2.68 points in choppy trade to close at 6,398.48 points even as investors toed caution in absence of fresh cues.
The KSX 15 benchmark slipped 5.03 pts to 1,038.46 points taking the month's losses to 22 points while weighted index eased 1.18 pts lower. The volume turnover meanwhile was almost unchanged after trading thin in last two sessions. 206.46 million shares changed hands € a 0.74 pct drop from the day before.
The sectors closed mixed. Technology outshone the rest with 2.03 percent jump whereas oil and gas slid 2.40 pct, the biggest loser of the day. In terms of volume, real estate accounted for the highest market share of 42.42 pct while financial services stood next with 30.86 percent. Parallel market was distant third with 10.9 pct contribution.
Among the individual shares, NAPESCO dived 50 fils to KD 0.550 and ACICO Industries Co shed 15 fils to close at KD 0.285. Contracting and Marine Services Co gave up 8 fils and NICBM was down 6 fils to close at KD 0.200. Mashaer Holding Co clipped 2 fils to settle at 120 fils.
Bourse heavyweight Zain dropped 5 fils to KD 0.465 extending an identical fall in the previous session and Wataniya Telecom held the ground steady at KD 1.420. Logistics major Agility too was unchanged at KD 0.790 and has added 50 fils from start of the year.
Kuwait Telecommunication Co (VIVA) pulled 10 fils higher to KD 0.870. The company has posted a net profit of KD 10.4 million in the quarter ending March 31, 2015 € an increase of 21 pct from same period last year.
Range
The market opened flat and slipped briefly in early trade. The key index ticked up and vacillated in a tight range as sentiment turned mixed. It dipped again to plumb the day's lowest level of 6,386.27 points almost half way into the session. It pulled up again and drfted along the opening mark before closing with slight losses.
Top gainer of the day, Al Aqaria soared 8.93 pct to 30.5 fils while Marakez was close behind with 8.62 percent upswing. NAPESCO slid 8.33 percent, the steepest decliner of the day and Al Dar National Real Estate Co topped the volume with 51.54 million shares.
Reflecting the day's downtick, the losers outnumbered the winners. 39 stocks advanced whereas 49 closed lower. Of the 125 counters active on Sunday, 37 closed flat. 3,943 deals worth KD 12.25 million were transacted € a 27.79 pct drop in value from the last session.
National Industries Group took in 2 fils to end at KD 0.188 recouping an identical loss in the last session while Gulf Cable was steady at KD 0.610. Metal and Recycling Co rose 5 fils to 83 fils and Kuwait Foundry Co paused at KD 0.275.
Equipment Holding Co nudged 2 fils higher and Educational Holding Group gained 6 fils to end at KD 0.176. Automated Systems Co pulled up 15 fils and Burgan Well Drilling Co added 4 fils. City Group stagnated at KD 0.540 Yiaco Medical Co climbed 6 fils to KD 0.126.
ALAFCO dialed down 2 fils while Jazeera Airways pulled 10 fils higher. The airline has posted a net profit of KD 3 million in the first quarter of 2015, an increase of 44.6% from the same quarter last year. The operating profit came in at KD2.4 million, up 141.2% from Q1 2014 while operating revenue rose 3.5 pct to KD12.9 million.
National Investment Co fell 2 fils and KIPCO closed flat. 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.
In the banking sector, National Bank of Kuwait was unchanged at KD 0.840 off early highs while Gulf Bank slipped 5 fils to KD 0.275 and is down 15 fils from start of the year. Commercial Bank of Kuwait and Al Ahli Bank paused at KD 0.620 and KD 0.360 respectively.
Gains
Ahli United Bank held steady at KD 0.570 after posting gains in the last session and Burgan Bank followed suit. The banking group has posted a net profit of KD 17.5 million while earning per share came in at 6 fils. Operating income surged 14 percent from same period last year to KD 70.5 million and profits before provisions climbed 12 pct to KD 38.2 million.
Kuwait International Bank fell 2 fils to close at KD 0.248 and Kuwait Finance House retreated 10 fils settle at KD 0.440. Boubyan Bank was up 5 fils at KD 0.440.
Securities Group Co gained 6 fils with thin trading whereas Securities House paused at 65 fils. Kuwait Financial Centre dropped 4 fils to KD 0.102 and First Investment Co clipped 2 fils. Bayan Investment Co and Sokouk Holding Co dialed up 1 fils each.
Mabanee Co was flat at KD 0.960 while Aayan Real Estate flunked 2 fils. Al Mazaya Holding gave up 2 fils to settle at KD 0.120.
The bourse has been mixed during last week. The main index closed lower in three of the five sessions and added 20 points week-on-week.. It had gained 17 points from start of the month but is trading 2.12 pct lower year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region.
In the bourse related news, Gulf Insurance Group (GIG) The company has registered a net profit of KD 3.7 million or 20.86 fils per share, for the financial period ended March 31, 2015 € an increase of 22.8 percent from the same period last year. Shareholder equity reached KD 82.5 million € a growth of 3.7 percent.
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.
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