(MENAFN- Arab Times) Kuwait stocks pulled higher on Wednesday, extending the gains to second straight session. The price index added 14.4 pts in slightly volatile session led by some of the mid and small caps even as banks closed mixed. The trading floor sentiment was cautiously positive as oil prices showed signs of firming up The KSX 15 measure rose 3.77 pts to 1,011.11 points trimming the year's losses to 50 points while weighted index edged 0.98 pts up.
The volume turnover meanwhile soared past the 100 million shares after diving to a 3-week low in the last session. 139.89 million shares changed hands € a 73.89 pct surge from Tuesday. The sectors closed mostly in the green turf. Consumer goods outshone the rest with 1.85 pct gain whereas technology slumped 1.96 pct, the biggest loser of the day. In terms of volume, real estate dominated with 42.67 pct market share while financial services came next with 32.43 percent.
Basic materials was a distant third with 12.77 percent contribution. Among the notable gainers, Kuwait National Cinema soared 80 fils while Humansoft Holding climbed 30 fils to KD 1.000. Kuwait Food Co (Americana) extended its rally with 20 fils upswing while Kout Food jumped 40 fils to settle at KD 0.680. Sector major Zain fell 5 fils to KD 0.405 after trading over 1.39 million shares and Wataniya Telecom gained 20 fils to close at KD 1.240 and is down 160 fils from start of the year. Kuwait Telecommunications Co (VIVA) was flat at KD 0.930 and Agility rose 10 fils. Commercial Bank of Kuwait climbed 20 fils to KD 0.620 whereas Burgan Bank closed flat.
The banking group has recorded a net income of KD 37.4 million for the first half period of 2015 € a 12.3 percent growth from H1, 2014 while operating profits before provisions rose 10.2 pct to KD 80.2 million from KD 72.8 million in 2014. The market opened firm and headed north in early trading. The price index continued to advance amid buying in select counters and hit the day's highest level of 6,249.66 pts almost half way into the session. It retreated thereafter but managed to close with modest gains. Top gainer of the day, Kuwait Cable Vision Co vaulted over 8 pct to 33.5 fils and KCIN climbed 7.84 percent to stand next.
Kuwait Insurance Co slid 7.94 pct, the steepest decliner of the day and Al Dar National Real Estate Co topped the volume with 38.37 million shares. Reflecting the day's upswing, the market spread was skewed towards the winners. 45 stocks advanced whereas 34 closed lower. Of the 135 counters active on Wednesday, 56 closed flat. 2,991 deals worth over KD 12 million were transacted € a 48 percent surge in value from the day before.
Steady
National Industries Group fell 2 fils to KD 0.172 while Gulf Cable and Kuwait Portland Cement were steady at KD 0.500 and KD 1.160 respectively. Metal and Recycling Co gave up 5 fils and Kuwait Foundry Co closed flat at KD 0.248. Jazeera Airways paused at KD 0.470 and ALAFCO followed suit. The company has clocked a net profit of KD 13.4 million for the nine-month period ending June 30, 2015. The earnings per share came in at 16.3 fils and company's total revenues reached KD 47.7 million.
ACICO Industries rose 5fils to KD 0.315 and Al-Nawadi Holding Co dialed up 2 fils to end at 87 fils. The company has posted a profit of KD 1,007,657 in the six-months period ending June 30 2015 and profit per share of 5.54 fils as compared to a profit of KD 974,925 EPS of 5.36 fils in the same period in 2014. Boubyan Petrochemicals Co gained 10 fils and Mezzan Holding Co paused at KD 1.160. The company has logged a net profit of KD 12.49 million and earnings per share of 42.13 fils in the January-June period of 2015, surging from net profit of KD 7.53 million and earnings per share of 25.41 fils in 2014, H1.
Yiaco Medical Co climbed 8 fils to KD 0.156 whereas Zima Holding held steady at 81 fils. Automated Systems Co gave up 10 fils whereas Arabi Holding Group Co closed 6 fils up. Kuwait and Gulf Link Transport Co paused at 55 fils and KGL Logistics Co followed suit. Mashaer Holding Co pulled 8 fils lower to KD 0.116. Investment major KIPCO was flat at KD 0.670 off early lows and Securities House Co too did not budge from its earlier close of 59 fils. KMEFIC inched 0.5 fils lower while Gulf Investment House and Al Mal Investment Co held steady at 47 fils and 42 fils respectively.
Osoul Investment Co eased 0.5 fils and Bayan Investment Co followed suit. The company has posted a net profit of KD 118,473 and earnings per share of 0.33 fils in the first half of 2015 as against net profit of KD 3.09 million and earnings per share of 8.56 fils in the same period of 2014. In the banking sector, National Bank of Kuwait was unchanged at KD 0.850 off early highs and Kuwait Finance House was up 10 fils at KD 0.630 on back of over 1 million shares.
Al Ahli Bank of Kuwait gave up 5 fils to close at KD 0.360. Ahli United Bank and Kuwait International Bank stagnated at KD 0.550 and KD 0.240 respectively and Boubyan Bank too did not budge from its earlier close of KD 0.415. The bourse has been mixed so far during the week and has slipped 15 points in last four sessions. The price index had climbed 52 points during whole of July and is trading 4.55 pct lower year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region.
In the bourse related news, Kuwait Real Estate Holding Co. has logged a first half net profit of KD 18,318 and earnings per share of 0.1 fils rebounding from net loss of KD 358,153 and loss per share of 1.90 fils in the same period last year.
Ikarus Petrolem Industries Co. has recorded a net profit of over KD 4 million and earnings per share of 5.13 fils in the six-month period ending June 30, 2015 as compared to net profit of KD 8.83 million and earnings per share of 11.30 fils in the 2014, H1. Gulf Insurance Group has recorded a net profit of KD 7.48 million and earnings per share of 41.75 fils in the first half , up from net profit of KD 6.06 million and earnings per share of 33.35 fils in the same period last year.
First Dubai For Real Estate Development has logged a net profit of KD 952,384 and earnings per share of 0.95 fils in the six-months period ending June 31, 2015 as compared to net profit of KD 1.16 million and earnings per share of 1.17 fils in H1 of 2014.
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