(MENAFN- Arab Times) Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 5,876.51 points, down by 2.91% from the week before closing, the Weighted Index decreased by 2.85% after closing at 391.31 points, whereas the KSX-15 Index closed at 936.62 points down by 3.14%. Furthermore, last week's average daily turnover increased by 63.42%, compared to the preceding week, reaching KD 19.12 million, whereas trading volume average was 195.46 million shares, recording an increase of 84.34%.
The three stock market indicators closed with big losses affected by the continued random selling trend in controlling the trading directions, which included many listed stocks of different kinds; also the quick speculations concentrated on the small cap stocks in particular continued its pressure on the market indicators, especially the Price Index that crossed the 6,000 point level down, recording large losses by the end of the week. The stock market recorded the losses despite the noticeable increase in the trading activity during the last week compared to the previous one, however such increase came as a result to the increased selling pressures.
Moreover, the stock market initiated the first session of the week with violent losses for the three indices, especially the Price Index which crossed the 6,000 point level down by 2.36% to be the highest loss recorded in a day since last March, and caused by the strong selling pressures that many stocks were subject to and pushed its prices down, among a declined trading activity on both levels, the volume and the value. On the second session, the market continued its grouped losses for the three indices, however at lower pace than the previous session, due to the continued active selling operations in general, despite the good increase in the trading activity.
On Tuesday's session, the market was able to stop the losses stream and was able to realize limited gains for the three indices, supported by the random purchasing operations that included many stocks of large-cap and small-cap, especially the ones that declined previously and became tempting to buy; the stock market witnessed such performance in light of a dropped traded cash liquidity. On Wednesday session, the three indicators returned to the red zone once again, whereas the market witnessed a quick profit collection trend caused many stocks' prices to drop, among a contracted trading activity. However on the end of week session, the three indicators were able to increase with limited levels, supported by the purchasing operations that included small-cap and leading stocks, which lightened its weekly losses slightly.
On the other hand, the market cap for KSE reached KD 26.97 billion by the end of last week, decreasing by 3.03% when compared to its level in a week before, which was KD 27.81 billion, however on the annual level, the market cap losses recorded by the listed companies during the last week were increased to reach 3.61% compared to its value at the end of 2014, where it reached then KD 27.98 billion.
As far as KSE annual performance, the Price Index ended last week recording 10.09% annual loss compared to its closing in 2014, while the Weighted Index decreased by 10.84%, and the KSX-15 recorded 11.64% loss.
Sectors' Indices
Eleven of KSE's sectors ended last week in the red zone except for one sector. The Consumer Services sector was last week only gainer, which index grew by 1.99%, closing at 1,099.33 points. On the other hand, last week's highest loser was the Consumer Goods sector headed the losers list as its index declined by 5.17% to end the week's activity at 1,165.70 points. The Financial Services sector was second on the losers' list, which index declined by 4.84%, closing at 668.96 points, followed by the Oil & Gas sector, as its index closed at 846.21 points at a loss 3.51%.
Sectors' Activity
The Real Estate sector dominated a total trade volume of around 343.74 million shares changing hands during last week, representing 35.17% of the total market trading volume. The Financial Services sector was second in terms of trading volume as the sector's traded shares were 30.35% of last week's total trading volume, with a total of around 296.61 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 33.83 million or 35.39% 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 17.55 million representing 18.36% of the total market trading value.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.