(MENAFN- Arab Times) Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 6,314.83 points, down by 0.28 percent from the week before closing, the Weighted Index decreased by 0.64 percent after closing at 420.97 points, whereas the KSX-15 Index closed at 1,011.32 points, down by 0.56 percent. Furthermore, last week's average daily turnover increased by 18.18 percent, compared to the preceding week, reaching KD 16.68 million, whereas trading volume average was 208.71 million shares, recording an increase of 59.58 percent.
The stock market indicators closed with mixed losses, affected by the speculative trading activity's control over the market trading behaviour among concentration on the small-cap stocks in particular, as such speculations contribute to the stocks' prices increase and its realized gains, thereafter the quick profit collection operations come to erase such gains. Also, the stock market recorded its losses despite the improvement in the liquidity level during the last week compared to the week before, however still witnessing fluctuation within relatively weak levels.
Moreover, the stock market witnessed in its first weekly session some variance in its indicators' closings, whereas the Price and Weighted indices declined as a result to the selling operations executed on some small and large-cap stocks, whilst KSX-15 Index swam against the current, recording a slight growth by the end of the session due to the random purchasing operations that concentrated on some blue-chips stocks. On the next session, the three market indicators decreased in an effect to the continued selling pressures in controlling the trading activity, despite the noticeable increase in the trading activity, especially the trading volume which recorded a growth of more than 71 percent compared to the previous session.
On Tuesday and Wednesday's sessions, only the Price Index was able to close in the green zone with limited increase, as a result to the speculative operations that concentrated on the small-cap stocks, while the Weighted and KSX-15 indices continued its decline in light of the continued selling pressures on some leading stocks. By the end of the week session, the Weighted and KSX-15 indices were able to realize good increase supported by the purchasing operations that included some large-cap stocks, especially in the Technology and Telecommunication sectors, which contributed to lightening its weekly losses, however the Price Index could not continue its upward direction, ending the session in the red zone.
In addition, the market cap for Kuwait Stock Exchange reached by the end of last week around KD 27.71 billion, decreasing by 0.59 percent compared to its previous week level, whereas it reached KD 28.87 billion then. On the annual level, the listed companies cap recorded a decline by 0.97 percent from its value at end of year 2014, whereas it reached KD 27.98 billion.
As far as KSE annual performance, the price index ended last week recording 3.38 percent annual loss compared to its closing in 2014, while the weighted index decreased by 4.08 percent, and the KSX-15 recorded 4.59 percent loss.
Sectors' Indices
Six of KSE's sectors ended last week in the red zone, while the other six recorded increases. The Industrial sector headed the losers list as its index declined by 1.12 percent to end the week's activity at 1,117.09 points. The Real Estate sector was second on the losers' list, which index declined by 0.95 percent, closing at 1,043.64 points, followed by the Oil & Gas sector, as its index closed at 966.45 points at a loss of 0.87 percent. The Basic Materials sector was the least declining as its index closed at 1,094.07 points with a 0.06 percent decrease.
On the other hand, last week's highest gainer was the Insurance sector, achieving 2.28 percent growth rate as its index closed at 1,138.41 points. Whereas, in the second place, the Technology sector's index closed at 934.86 points recording 1.20 percent increase. The Telecommunications sector came in third as its index achieved 0.78 percent growth, ending the week at 635.86 points.
Sectors' Activity
The Real Estate sector dominated a total trade volume of around 419.71 million shares changing hands during last week, representing 40.22 percent of the total market trading volume. The Financial Services sector was second in terms of trading volume as the sector's traded shares were 39.05 percent of last week's total trading volume, with a total of around 407.50 million shares.
On the other hand, the Financial Services sector's stocks were the highest traded in terms of value; with a turnover of around KD 21.70 million or 26.02 percent of last week's total market trading value. The Real Estate sector took the second place as the sector's last week turnover was approx. KD 18.58 million representing 22.28 percent of the total market trading value.
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