(MENAFN- Arab Times) Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 6,181.89 points, down by 0.48% from the week before closing, the Weighted Index decreased by 0.76% after closing at 418.92 points, whereas the KSX-15 Index closed at 1,018.06 points down by 0.56%. Furthermore, last week's average daily turnover decreased by 14.78%, compared to the preceding week, reaching KD 10.32 million, whereas trading volume average was 84.52 million shares, recording an increase of 3.88%.
The stock market indicators continued its downward direction and closed in the red zone for the third consecutive week, in light of a continued active profit collection operations executed on many stocks, in addition to the quick speculative operations that targeted some small-cap stocks and caused the main market indicator to fluctuate, however declining in general.
Also, the stock market witnessed during most of the week's sessions selling pressures and included many stocks, both of large-cap and small-cap, in addition to the presence of the speculative operations to influence the trading activity as well, which caused the general index to drop to its lowest level since December 2014.
Moreover, the profit collection operations witnessed by the market during last week concentrated on the large-cap and small-cap stocks, which was apparent on the Weighted and KSX-15 indices, the most declining indices during last week compared to the Price Index, especially that most of the large-cap stocks recorded noticeable increases during the last period.
On the other hand, the stock market witnessed during last week some reluctance by the traders from trading, as they preferred to wait and watch for the political situation outcome, and the listed companies results for the first half of the current financial year.
As far as KSE annual performance, the price index ended last week recording 5.41% annual loss compared to its closing in 2014, while the weighted index decreased by 4.55%, and the KSX-15 recorded 3.95% loss.
Sectors' Indices
Seven of KSE's sectors ended last week in the red zone, while five recorded increases. The Basic Materials sector headed the losers list as its index declined by 3.75% to end the week's activity at 1,054.90 points. The Real Estate sector was second on the losers' list, which index declined by 2.15%, closing at 999.77 points, followed by the Financial Services sector, as its index closed at 739.63 points at a loss of 1.28%. The Telecommunications sector was the least declining as its index closed at 610.06 points with a 0.39% decrease.
On the other hand, last week's highest gainer was the Consumer Services sector, achieving 2.38% growth rate as its index closed at 1,057.82 points. Whereas, in the second place, the Health Care sector's index closed at 874.41 points recording 2.12% increase, followed by the Technology sector as its index closed at 913.27 points recording 1.46 % increase.
Sectors' Activity
The Financial Services sector dominated a total trade volume of around 201.50 million shares changing hands during last week, representing 47.68% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector's traded shares were 25.57% of last week's total trading volume, with a total of around 108.05 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 16.34 million or 31.67% of last week's total market trading value. The Financial Services sector took the second place as the sector's last week turnover was approx. KD 13.02 million representing 25.22% of the total market trading value.
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