(MENAFN- Arab Times) Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 6,211.73 points, down by 0.41 percent from the week before closing, the Weighted Index decreased by 0.51 percent after closing at 422.12 points, whereas the KSX-15 Index closed at 1,023.84 points down by 0.33 percent. Furthermore, last week's average daily turnover decreased by 9.17 percent, compared to the preceding week, reaching KD 12.11 million, whereas trading volume average was 81.37 million shares, recording a decrease of 34.98 percent. The stock market indicators declined last week as a result to the continued selling pressures control over the investors' deals, which caused the market indicators to drop for the second consecutive week.
Such decrease came in light of lower trading levels compared to a week earlier trading, for the trading volume or the cash liquidity which dropped slightly. Also, the Price Index was affected by the continued selling operations that concentrate on many small-cap stocks in particular, however the return of the random purchasing operations on some stocks, especially of previous strong declines, lightened its losses somehow. In addition, the collection operations executed on a number of the large-cap and blue-chip stocks during some sessions contributed in supporting both the Weighted and KSX-15 indices, which lightened its losses to a certain extent, however such support did not last long, where it decreased once again by the return of the selling operations, which pushed both to close the week in the red zone.
Moreover, the stock market performance was fluctuating during some daily sessions of last week, due to the presence of the random purchasing operations concentrating on a number of stocks, which met by quick profit collection operations pushed the market to close in the red zone. The Kuwait Stock Market cap reached KD. 28.24 by the end of last week, declining by 0.35 percent when compared to its level of the week before, however on the annual level, the listed companies cap recorded growth of 0.93 percent from its value at end of 2014, where it reached then KD. 27.98 billion. As far as KSE annual performance, the price index ended last week recording 4.96 percent annual loss compared to its closing in 2014, while the weighted index decreased by 3.82 percent, and the KSX-15 recorded 3.41 percent loss.
Sectors' Indices
Nine of KSE's sectors ended last week in the red zone, While three recorded increases. The Technology sector headed the losers list as its index declined by 3.14 percent to end the week's activity at 900.12 points. The Basic Materials sector was second on the losers' list, which index declined by 1.35 percent, closing at 1,095.96 points, followed by the Financial Services sector, as its index closed at 749.22 points at a loss of 1.16 percent. The Real Estate sector was the least declining as its index closed at 1,021.76 points with a 0.28 percent decrease. On the other hand, last week's highest gainer was the Oil & Gas sector, achieving 0.92 percent growth rate as its index closed at 921.66 points. Whereas, in the second place, the Industrial sector's index closed at 1,114.71 points recording 0.34 percent increase, Followed by the Consumer Services sector as its index closed at 1,033.18 points recording 0.175 percent increase.
Sectors' Activity
The Financial Services sector dominated a total trade volume of around 163.26 million shares changing hands during last week, representing 40.13 percent of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector's traded shares were 29.55 percent of last week's total trading volume, with a total of around 120.22 million shares. On the other hand, the Banks sector's stocks were the highest traded in terms of value; with a turnover of around KD 18.20 million or 30.06 percent of last week's total market trading value. The Telecommunications sector took the second place as the sector's last week turnover was approx. KD 12.98 million representing 21.44 percent of the total market trading value.
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