(MENAFN- Arab Times) Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 6,249.34 points, down by 0.07% from the week before closing, the Weighted Index decreased by 0.45% after closing at 417.03 points, whereas the KSX-15 Index closed at 1,008.12 points down by 0.67%.
Furthermore, last week's average daily turnover decreased by 15.61%, compared to the preceding week, reaching K.D 10.67 million, whereas trading volume average was 112.09 million shares, recording a decrease of 20.62 %. The three stock market indicators continued its losses for the second consecutive week, in light of the continued selling pressures in controlling the trading activity, whereas the leading stocks were mainly targeted by the selling operations, which affected the Weighted and KSX-15 indices to witness in one session its lowest closing level during 2015.
Also, the Price Index continued its negative performance affected by the continued profit collection operations and the quick speculations that are concentrating on many small-cap stocks in particular; however the return of the purchasing operations to some stocks, especially the ones of previous strong drops, caused the market to lighten its weekly losses.
In addition, the purchasing operations were not absence from influencing the market performance during the last week, as it witnessed in some session random purchasing operations included many operational and smallcap stocks, which lightened the three indicators' losses. The stock market witnessed such performance in light of the continued decline of the trading indicators for both the volume and the cash liquidity which is still witnessing very week levels compared to the previous years.
On the other hand, and despite that the end of the legals disclosure period for the first half of the current year is getting close, the percentage of the companies that disclosed its financial results until mid Thursday did not exceed 43% from the total number of 192 listed companies in KSE; as by the end of the week, the number of the companies that disclosed its results reached 00 company realizing K.D. 714.29 million net profits, with any increase of 4.61% from the same companies' results for the same period of last year, where it reached K.D. 682.82 million.
Moreover, the market cap for Kuwait Stock Exchange reached by the end of last week K.D. 27.80 billion declining by 0.34% compared to its level in a week before, which was K.D. 27.90 billion. On the annual level, the market cap for the listed companies in KSE declined by 0.64% from its value at end of 2014, as it reached then K.D. 27.98 billion. As far as KSE annual performance, the Price Index ended last week recording 4.38% annual loss compared to its closing in 2014, while the Weighted Index decreased by 4.98%, and the KSX-15 recorded 4.89% loss.
Sectors' Indices
Two of KSE's sectors ended last week in the green zone, ten recorded declines. Last week's highest gainer was the Industrial sector, achieving 2.12% growth rate as its index closed at 1,168.39 points. Whereas, in the second place, the Consumer services sector's index closed at 1,077.09 points recording 0.42% increase. On the other hand, the Real Estate sector headed the losers list as its index declined 1.32% to end the week's activity at 1,005.57 points. The Consumer Goods sector was second on the losers' list, which index declined by 1.31%, closing at 1,242.31 points, followed by the Telecommunications sector, as its index closed at 608.87 points at a loss of 1.01%.
Sectors' Activity
The Real Estate sector dominated a total trade volume of around 265.54 million shares changing hands during last week, representing 47.20% of the total market trading volume.
The Financial Services sector was second in terms of trading volume as the sector's traded shares were 30.21% of last week's total trading volume, with a total of around 169.33 million shares. On the other hand, the Real Estate sector's stocks were the highest traded in terms of value; with a turnover of around K.D 13.72 million or 25.72% of last week's total market trading value. The Banks sector took the second place as the sector's last week turnover was approx. K.D 11.12 million representing 20.82% of the total market trading value.
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