(MENAFN- Arab Times) Kuwait stocks headed north on Sunday as it resumed trading after clocking steep losses in the previous week. The bourse climbed 27.61 points in lackluster trade to 5,904.12 pts helped by moderate buying in some of the banking shares even as investors remained largely cautious.
The KSX 15 measure rose 4.77 pts to 941.39 points paring the month's losses to 74 pts while weighted index edged 1.82 points up. The volume turnover meanwhile shrank below the 200 million mark after bouncing in the last session. 175.33 million shares changed hands € a 19.76 pct drop from Thursday.
The sectors closed mostly in the positive territory. Real estate outshone the rest with 1.50 pct gain whereas technology plunged 3.36 € the biggest loser of the day. In terms of volume, financial services garnered the highest market share of 33.53 pct while real estate stood next with 27.53 percent. Industrial sector was a distant third with 10.10 pct contribution.
Among notable gainers Kuwait Finance House climbed 10 fils on back of over 3 million shares and Ahli United Bank was up by same measure to close at KD 0.345. Burgan Bank was up 5 fils KD 0.405 and Gulf Bank followed suit to wind up at KD 0.270.
Telecom major Zain was unchanged at KD 0.385 after trading 3.3 million shares and Wataniya Telecom (Ooredoo) too did not budge from its earlier close of KD 1.100. Kuwait Telecommunications Co (VIVA) stagnated at KD 0.880 and Agility followed suit to close flat at KD 0.610 off early highs.
Jazeera Airways gained 10 fils on thin trading recouping the drop on Thursday while ALAFCO held steady at KD 0.222. The company has clocked a net profit of KD 13.4 million for the nine-month period ending June 30, 2015 and earnings per share came in at 16.3 fils.
The market opened firm and ticked up in early trade. The price index hit the day's highest level of 5916.06 pts and retreated thereafter as selling dragged select counters lower. It drifted in a tight range before bottoming at 5876.86 in the second half and clawed back again to close with modest gains.
Top gainer of the day, Manazel Holding Co rallied 6.85 pct to 39 fils and Al Dar National Real Estate Co climbed 6.76 pct to stand close behind. KBMMC slid 12.7 pct, the steepest decliner of the day and Investors Holding Group topped the volume with 14.5 million shares.
Reflecting the day's upswing, the market spread was skewed towards the winners. 66 stocks advanced whereas 28 closed lower. Of the 134 counters active on Sunday, 40 closed flat. 4332 deals worth KD 17.4 million were transacted € a 5.71 pct drop in value from the last session.
National Industries Group, the flagship company of Kharafi Group , dialed up 2 fils extending an identical rise in the last session while RISCO and Kuwait Portland Cement were unchanged at KD 0.375 and KD 1.120 respectively. ACICO Industries Co rose 5 fils whereas Kuwait Food Co (Americana) gave up early gains to pause at KD 2.160.
Jumped
Mashaer Holding Co added 6 fils and Mezzan Holding Co jumped 20 fils. 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.
Zima Holding added 8 fils with brisk trading and United Foodstuff Industries Group Co gained 10 fils with thin volume. Equipment Holding Co held steady at 65 fils and KGL Logistics Co followed suit. Kuwait and Gulf Link Transport Co inched 1 fils up.
On the downside, Gulf Cable dropped 10 fils and City Group Company gave up 5 fils to settle at KD 0.385. The 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 Foundry Co was down 8 fils at KD 0.220 while Independent Group Co and Combined Group Contracting Co shed 10 fils each. Automated Systems Co tumbled 25 fils to close at KD 0.350.
KIPCO was flat at KD 0.620 after gyrating in a tight range 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.
Kuwait Investment Co dialed up 2 fils to close at KD 0.108 whereas Al Aman Investment gave up 2 fils to end at 62 fils. Bayan Investment Co and Osoul Investment Co inched 0.5 fils up each whereas Securities House Co was flat at 53 fils.
Al Deera Holding ticked 1 fils up while KMEFIC and KFIC eased 0.5 fils each to close at 35 fils and 46 fils respectively. Sokouk Holding added 2.5 fils and Ahleia Insurance Co dived 25 fils.
In the banking sector, Al Ahli Bank was unchanged at KD 0.345. Kuwait International Bank rose 4 fils to KD 0.232. Burgan Bank paused at KD 0.405 and Boubyan Bank closed flat.
The bourse was downbeat during last week. The price index closed lower in 3 of the 5 sessions and dived 176 pts week-on-week.
It has sunk 350 points from start of the month and is trading 9.66 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 Company has registered a net profit of KD 2.39 million and earnings per share of 2.64 fils in the first six-months of 2015 as against net profit of KD 3.49 million and earnings per share same of 3.86 fils in the same period last year.
Gulf Cement Company has posted a net profit of KD 2.45 million and earnings per share of 0.003 fils in the first half of 2015, down from KD 3.36 million net profit and earnings per share of 0.004 fils in the same period last year.
Al Dar National Real Estate Co has incurred a net loss of KD 132,850 and loss per share of 0.32 fils in the six-month period ending June 30, 2015 as against net profit of KD 761,352 and earnings per share of 1.85 fils in the same period of 2014.
Metal and Recycling Co has incurred a net loss of KD 126,449 and losses per share of 2.48 fils in the January-June period of 2015 as compared to net profit of KD 615,409 and earnings per share of 6.76 fils in 2104, H1.
Kuwait National Cinema Company has clocked a net profit of KD 5.98 million and earnings per share of 62.65 fils in the six-months period ending June 30,215 as against net profit of KD 5.10 million and earnings per share of 51.48 fils in the first half of 2014.
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