(MENAFN- Arab Times) Kuwait stocks pulled higher as it kicked off the week on a firm note. The key index, after wallowing in red for most part of the session, climbed 22.12 points to 6,271.46 points helped by a last minute spurt in buying. The KSX 15 benchmark rose 3.18 pts to 1,011.3 points shrinking the year's losses to 50 points while weighted index nudged 2.26 points up.
The volume turnover meanwhile sank further after slipping below the 100 million mark in the last session. 82.25 million shares changed hands € a 17.71 pct drop from Thursday. The sectors closed mostly in the green turf. Telecommunications outshone the rest with 1.43 pct gain while technology shed over 1 percent, the worst performer of the day.
In terms of volume, financial services garnered the highest market share of 37.16 pct while real estate stood next with 34.66 percent. Telecommunications was distant third with 7.66 pct contribution. Among the gainers, Kuwait Food Co (Americana) vaulted 80 fils to KD.2.860 recouping the losses in the last session while the banking sector bellwether National Bank of Kuwait added 10 fils. NAPESCO climbed 40 fils and Kuwait Portland Cement Co pulled 20 fils higher to KD 1.160. Telecom major Zain rose 10 fils to KD 0.415 on back of 1.13 million shares while Wataniya Telecom (Ooredoo) soared 100 fils to KD 1.300 trimming the year's losses to 100 fils.
Kuwait Telecommunications Co (VIVA) gave up 10 fils and Agility was down by same measure to close at KD 0.650. Investment conglomerate KIPCO clipped 2 fils to settle at KD 0.670 and Bayan Investment Co inched 1 fils lower after trading over 1 million shares. 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. The market opened flat but slipped into red in early trade. The prime gauge continued to drift and plumbed the day's lowest level of 6,230.62 pts almost half way into the session. It recovered thereafter and a spurt in buying in the final minutes helped catapult it into the positive territory. Top gainer of the day, Humansoft Holding Co spiked over 9 percent to KD 1.200 and Ooredoo jumped 8.33 pct to stand next.
Jeeran Holding Co slid 8.33 percent, the steepest loser of the day and Al Dar National Real Estate Co topped the volume with over 19 million shares. Mirroring the day's upswing, the winners outnumbered the losers. 46 stocks advanced whereas 41 closed lower. Of the 131 counters active on Sunday, 44 closed flat. 2,449 deals worth KD 10.34 million were transacted € a 16.49 percent increase in value from the last session. National Industries Group was flat at KD 0.172 and Gulf Cable followed suit to end at KD 0.495. Kuwait Foundry Co held steady at KD 0.248 and ACICO Industries added 5 fils.
Boubyan Petrochemicals Co climbed 10 fils whereas Kuwait Packing Materials Co slipped 10 fils to KD 0.390.
Profit
ALAFCO took in 2 fils and Jazeera Airways Group paused at KD 0.470. The company has posted a 27.1 pct year-on-year surge in H1 net profit to KD 6.2 million while second quarter net profit reached KD 3.2 million € an increase of 14.2% from the same period last year. Operating revenues rose 0.8 percent y-o-y to KD 26.6 million. Zima Holding Co inched 1 fils up whereas Al-Nawadi Holding Co closed 3 fils lower .
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. Equipment Holding Co and Qurain Petrochemical Industries Co gave up 2 fils each whereas City Group closed 5 fils in green.
Kuwait Cable Vision Co and Gulf Petroleum Investment Co dialed down 2 fils each and Automated Systems Co fell 5 fils to KD 0.395. Kuwait and Gulf Link Transport Co stagnated at 55 fils and KGL Logistics Co inched 1 fils lower. In the banking sector, Gulf Bank was flat at KD 0.275 while Ahli United Bank gained 20 fils. Kuwait International Bank and Burgan Bank held steady at KD 0.240 and KD 0.415 respectively whereas Commercial Bank of Kuwait and Al Ahli Bank were not traded during the session. Boubyan Bank was unchanged at KD 0.420 while Kuwait Finance House dropped 10 fils. The bank has logged a net profit of KD 62.3 million in the first half of 2015, a 14.1 percent increase while earning per share stood at 13.30 fils. Kuwait Investment Co clipped 2 fils whereas National Investment Co nudged 2 fils up.
Securities Group Co added 4 fils and Securities House Co inched 1 fils up with a volume of 1.4 million shares. Kuwiat Financial Centre dialed up 2 fils and Al Aman Investment Co followed suit. Bayan Investment and Osoul Investment Co were flat at 48 fils each and KAMCO pulled 4 fils lower. Mabanee Co shed 10 fils and National Real Estate Co closed 1 fils in red. Al Mazaya Holding paused at KD 0.116. The bourse was mixed during last week. It closed higher in three of the five sessions but was down 4 points week-on-week. The price index has gained 18 points from start of the month and is trading 4.04 pct lower year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region.
In the bourse related news, Kuwait Cable Vision Company has clocked a net profit of KD 211,173 and earnings per share of 7.04 fils in the 6-month period ending June 30, 2015 as compared to net loss of KD 117,759 and loss per share of 3.93 fils. Aqar Real Estate Investments Co. has recorded a net profit of KD 876,550 and earnings per share of 3.87 fils in the first half of 2015 , up from net profit of KD 97,853 and earnings per share of 0.43 fils in H1 of 2014. City Group Company has posted a net profit of KD 3.56 million and earnings per share of 31.51 fils in the January-June period of 2015 as against net profit of KD 2,85 million and earnings per share of 25.29 fils in the same period last year.
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.
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