(MENAFN- Arab Times) Kuwait stocks sagged on Tuesday snapping the five-day advance. The bourse slipped 4.57 pts in lackluster trade to wind up at 6,294.47 pts weighed by profit taking in select counters. The banks were mostly muted even as investors eye fresh cues. The KSX 15 gauge rose 4.5 points to 1,015.22 pts lifting it to the month's starting level while weighted index edged 1.43 points up. The volume turnover meanwhile shrank slightly after clocking a rebound in the last session.
Over 117 million shares changed hands - a 5.9 pct fall from Monday. The sectors closed mixed. Consumer services out led the rest with 1.31 pct gain whereas oil and gas shed 3.16 percent, the worst performer of the day. In terms of volume, real estate mustered the highest market share of 35.98 pct while financial services stood next with 32.33 percent. Among the losers, Humansoft Holding Co tumbled 80 fils to KD 1.200 and NAPESCO dived 50 fils erasing the gains on Monday. Boubyan Petrochemicals Co climbed 20 fils and Independent Petroleum Group was 10 fils at KD 0.305. Nafais Holding Co gave up 6 fils to settle at KD 0.148. Telecom major Zain rose 5 fils to KD 0.420 on back of 1.49 million shares whereas Wataniya Telecom held the ground unchanged at KD 1.340 Kuwait Telecommunications Co (VIVA) climbed 10 fils and Agility was up by same measure to end at KD 0.660 after trading 1.2 million shares. Investment conglomerate KIPCO was flat at KD 0.660 off early highs and National Investments Company followed suit.
The company has recorded a net profit of KD 3.80 million and earnings per share of 4.46 fils in the January-June period of 2015 as compared to KD 2.25 million profit and earnings per share of 2.63 fils in the first of last year. The market opened flat and inched slightly up in early trade. The price index slipped into red thereafter as sentiment turned weak and clawed back briefly into the green turf to hit the day's highest level of 6308.2 pts. It retreated again to trough at 6,282.96 pts before closing with marginal losses. Top gainer of the day, Kuwait Bahrain International Exchange Co vaulted 9.26 pct to 118 fils and Al Nawadi Holding climbed 5.85 percent to stand next. NAPESCO slid 7.81 pct, the steepest decliner of the day and Al Dar National Real Estate Co topped the volume with over 21.52 million shares.
Despite the day's downtick, the winners outnumbered the losers. 51 stocks advanced whereas 33 closed lower. Of the 141 counters active on Tuesday, 57 closed flat. 2898 deals worth KD 12.67 million were transacted - a 21.9 percent surge in value from the day before. Kuwait Cement Co rose 5 fils and National Industries Group paused at KD 0.170. The company has logged a first half net profit of KD 9.37 million and earnings per share of 7.1 fils as compared to net profit of over KD 8 million and earnings per share of 6 fils in the same period last year. RISCO and Gulf Cable held steady at KD 0.390 and KD 0.495 respectively whereas ACICO Industries gave up 5 fils to end at KD 0.310. Equipment Holding Co inched 1 fils up whereas Qurain Petrochemical Industries Co dialed down 2 fils.
Rose
Jazeera Airways fell 5 fils to KD 0.465 and ALAFCO ticked 2 fils up to close at KD 0.230. City Group rose 5 fils to KD 0.400 and Mezzan Holding Co gained 20 fils. Mashaer Holding Co added 6 fils and Al Rai Media Group Co climbed 10 fils. Burgan Well Drilling Co clipped 2 fils. Salhia Real Estate Co rose 5 fils to KD 0.335 whereas Mabanee Company closed flat. The company has recorded a net profit of KD 24.31 million and earnings per share of 28.77 fils as against net profit of KD 24.49 million and earnings per share of 28.99 fils in H1, 2014.
In the banking sector, National Bank of Kuwait was flat at KD 0.860 and Gulf Bank too did not budge from its earlier close of KD 0.275. Al Ahli Bank stagnated at KD 0.355 and Ahli United Bank was up 10 fils at KD 0.560. Kuwait International Bank was unchanged at KD 0.240 and Burgan Bank followed suit. 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. Kuwait Finance House gained 10 fils on back of 3.9 million shares whereas Boubyan Bank gave up 5 fils to wind up at KD 0.420. Commercial Bank of Kuwait was not traded during the session. Bayan Investment Co and KFIC inched 1 fils up each whereas Kuwait Financial Centre was not traded during the session.
The company has posted a first half net profit of KD 3.73 million and earnings per share 87 fils as against a net profit of KD 3.025 million and earnings per share of 6 fils in the same period of 2014. Osoul Investment Co was flat at 48 fils and Tamdeen Investment Co followed suit to end at KD 0.300. Kuwait Reinsurance Co climbed 10 fils to KD 0.196. The bourse has been largely positive so far during the week and has climbed 45 points in last three sessions. The price index has gained 41 pts from start of the month and is trading 3.69 pct lower year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region.
In the bourse related news, Alimtiaz Investment Group Co has registered a net profit of KD 7.65 million and earnings per share of 6.96 fils in the first of 2015, rising sharply from net profit of KD 50,685 and earnings per share of 0.05 fils in the same period of 2014. Aayan Leasing and Investment Company has clocked a net profit of KD 5.42 million and earnings per share of 6.76 fils in the six-months period ending June 30, 2015, down from net profit of KD 8.88 million and earnings per share of 11.07 fils in the H1 of 2014. 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.
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. 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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