(MENAFN- Arab Times) Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 6,139.22 points, down by 0.69 percent from the week before closing, the Weighted Index decreased by 0.15 percent after closing at 418.30 points, whereas the KSX-15 Index closed at 1,016.46 points down by 0.16 percent. Furthermore, last week's average daily turnover decreased by 10.64 percent, compared to the preceding week, reaching KD 9.22 million, whereas trading volume average was 84.52 million shares, recording an increase of 0.07 percent.
The stock market indicators continued its losses for the fourth consecutive week, as a result to the continued speculative trading and the strong selling operations that concentrated on many small-cap and large-cap stocks, in addition to the quick profit collection operations executed during the daily sessions whenever some stocks realize gains.
The stock market is witnessing this period a state of abundance and refrain from trading by some traders, waiting for the listed companies' first half results, which is expected to be disclosed during the upcoming weeks.
Moreover, the stock market initiated the week's trading activity with mixed closing to the three indices, whereas the Price Index was able to end the session in the green zone, benefiting from the speculation operations executed on few small-cap stocks, while the Weighted and KSX-15 indices could not increase, to record a drop affected by the selling operations executed on a number of the leading stocks. Also, the stock indicators continued its fluctuation in the second session, whereas the Price Index declined by the end of the session affected by the profit collection operations, while the Weighted and KSX-15 indices realized good gains as a result to the purchasing power that included some leading stocks.
In addition, the stock market witnessed in the mid-week session a drop to the three indices in light of the noticeable decline in the trading indicators, especially the cash liquidity which declined to its lowest level in a year, among selling operations included many large-cap and small-cap stocks together. On Wednesday's session, the stock market was able to realize a grouped growth to the three indices, supported by the collection and purchasing powers that included many stocks, in light of a noticeable increase in the trading activity, especially the value which increased by nearly 115 percent compared to the previous session.
However on Thursday's session, the stock market returned for the losses zone, whereas the Price Index declined due to the profit collection operations executed on some small-cap stocks, whilst the Weighted and KSX-15 indices continued its upward direction supported by the continued purchasing power concentrating on the heavy stocks, which contributed to lightening its weekly losses.
The market cap for Kuwait Stock Exchange reached by the end of last week to KD. 27.86 billion, declining by 0.68 percent compared to its level in a week before. On an annual level, the capital value of the listed companies declined by 0.41 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 6.07 percent annual loss compared to its closing in 2014, while the Weighted Index decreased by 4.69 percent, and the KSX-15 recorded 4.10 percent loss.
Sectors' Indices
Seven of KSE's sectors ended last week in the red zone, while three recorded increases, whereas the Basic Materials and Telecommunication sectors' indices closed with no change from the week before. The Oil & Gas sector headed the losers list as its index declined by 2.05 percent to end the week's activity at 897.01 points. The Technology sector was second on the losers' list, which index declined by 1.95 percent, closing at 895.49 points, followed by the Consumer Services sector, as its index closed at 1,037.95 points at a loss of 1.87 percent. The Banks sector was the least declining as its index closed at 968.12 points with a 0.16 percent decrease.
On the other hand, last week's highest gainer was the Health Care sector, achieving 1.15 percent growth rate as its index closed at 884.50 points. Whereas, in the second place, the Real Estate sector's index closed at 1,002.58 points recording 0.28 percent increase, followed by the Insurance sector as its index closed at 1,141.27 points recording 0.24 percent increase.
Sectors' Activity
The Real Estate sector dominated a total trade volume of around 182.73 million shares changing hands during last week, representing 43.21 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 34.27 percent of last week's total trading volume, with a total of around 144.93 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 13.26 million or 28.76 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 9.57 million representing 20.75 percent of the total market trading value.
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