KSE Extends Decline, Ends 34.46 Pts Lower
(MENAFN- Arab Times) Kuwait stocks pulled lower on Wednesday, extending the losses to third consecutive session. The bourse dropped 34.46 pts to 5,763.31 points as sentiment remains fragile over continuing weakness in oil prices. The banks were mixed whereas other heavyweights closed mostly in the red.
The KSX 15 gauge dropped 7.46 pts to 915.67 points taking the year's losses to 146 pts while weighted index slipped 2.48 points. The volume turnover meanwhile ebbed further to dip below the 100 million mark. 95.52 million shares changed hands € a 28 percent drop from the day before.
The sectors closed mostly in the negative territory. Technology outshone the rest with 0.87 pct gain whereas telecommunications dipped 1.85 pct, the worst performer of the day. In terms of volume, real estate mustered the highest market share of 36.17 percent while financial services stood next with 31.49 pct. Industrials was a distant third with 7.69 percent contribution.
Among notable movers, National Bank of Kuwait retreated 10 fils to KD 0.780 erasing the gains on Tuesday and Al Ahli Bank was down by same measure to close at KD 0.330. KIPCO rose 10 fils to KD 0.600 recouping the fall in the previous session and National Investment Co was down 4 fils at 102 fils.
Telecom major Zain fell 5 fils to KD 0.360 and Wataniya Telecom (Ooredoo) shed 20 fils taking the year's losses to 400 fils. Kuwait Telecommunications Co ( VIVA) gave up 10 fils and Agility followed suit to close at KD 0.570.
Gulf Bank slipped 4 fils and Kuwait Finance House was down 10 fils at KD 0.580. The bank has logged a net profit of KD 62.3 million in thefirst half of 2015, a 14.1 percent increase from KD 54.6 million over the same period of the previous year. Earning per share stood at 13.30 fils as compared to 11.64 fils for corresponding period of 2014.
The market opened weak and pulled lower in early trade as selling weighed on select counters. The price index drifted listlessly thereafter as investors toed cautions and bottomed at 5,738.73 pts in final minutes before paring back some of the losses at close.
Top gainer of the day, HumanSoft Holding climbed 6 percent to KD 1.060 while Qurain Holding rose 5.88 pct to stand close behind. The Sultan Centre slid 7.25 percent, the steepest decliner of the day and Investors Holding Co topped the volume with over 11 million shares.
Mirroring the day's decline, the market spread was skewed towards the losers. 20 stocks advanced whereas 70 closed lower. Of the 129 counters active on Wednesday, 39 closed flat. 3,054 deals worth 8.2 million were transacted € over 33 percent drop from the day before.
National Industries Group clipped 2 fils and Kuwait Foundry Co followed suit to close at 222 fils. Kuwait Cement Co and Kuwait Portland Cement were unchanged at KD 0.360 and KD 1.140 respectively whereas Equipment Holding Co dialed down 2 fils.
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Gulf Cable and RISCO paused at KD 0.425 and KD 0.350 respectively whereas Heavy Engineering Industries and Storage Co was down 8 fils at KD 0.130. Qurain Petrochemical Industries Co was steady at KD 0.176 and Salbookh Trading Co closed 3 fils lower.
Combined Group Contracting Co tumbled 50 fils and Automated Systems Co pulled 20 fils higher. The company has recorded a net profit of KD 503,093 and earnings per share of 10.05 fils in the first six months of 2015 as against net profit of KD 1.04 million and earnings per share of 20.82 fils in the year before period.
Zima Holding dropped 10 fils to KD 0.146 while Mezzan Holding Co was flat at KD 1.000. 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.
Jazeera Airways climbed 10 fils to KD 0.465 and ALAFCO paused at KD 0.218. Mashaer Holding held steady at KD 0.110 and Future Communications Co Global closed 6 fils lower.
Noor Financial Investment and Sokouk Holding dialed down 2 fils each and Bayan Investment Co inched 1 fil lower. 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.
Al Mazaya Holding fell 2 fils and Mabanee Company dropped 10 fils to KD 0.860. 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, Commercial Bank of Kuwait climbed 10 fils to KD 0.560 and Ahli United Bank followed suit to end at KD 0.540. Kuwait International Bank eased 2 fils to KD 0.230 and Burgan Bank was flat at KD 0.395.
Boubyan Bank closed 5 fils higher partly recovering the drop in the last session. National Real Estate Co clipped 2 fils and Alargan International Real Estate Co added 2 fils. Securities House Co slipped 3.5 fils and Securities Group paused at 112 fils.
The bourse was has been bearish so far during the week and has dived 113 points in last four sessions. It had plunged 567 points during whole of August and is trading 11.82 pct lower year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region.
In the bourse related news, 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.
Safat Energy Holding Company has incurred a net loss of KD 82,966 and losses per share of 0.14 fils narrowing from net loss of KD 333,485 and losses per share of 0.55 fils in the same period last year.
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.
The KSX 15 gauge dropped 7.46 pts to 915.67 points taking the year's losses to 146 pts while weighted index slipped 2.48 points. The volume turnover meanwhile ebbed further to dip below the 100 million mark. 95.52 million shares changed hands € a 28 percent drop from the day before.
The sectors closed mostly in the negative territory. Technology outshone the rest with 0.87 pct gain whereas telecommunications dipped 1.85 pct, the worst performer of the day. In terms of volume, real estate mustered the highest market share of 36.17 percent while financial services stood next with 31.49 pct. Industrials was a distant third with 7.69 percent contribution.
Among notable movers, National Bank of Kuwait retreated 10 fils to KD 0.780 erasing the gains on Tuesday and Al Ahli Bank was down by same measure to close at KD 0.330. KIPCO rose 10 fils to KD 0.600 recouping the fall in the previous session and National Investment Co was down 4 fils at 102 fils.
Telecom major Zain fell 5 fils to KD 0.360 and Wataniya Telecom (Ooredoo) shed 20 fils taking the year's losses to 400 fils. Kuwait Telecommunications Co ( VIVA) gave up 10 fils and Agility followed suit to close at KD 0.570.
Gulf Bank slipped 4 fils and Kuwait Finance House was down 10 fils at KD 0.580. The bank has logged a net profit of KD 62.3 million in thefirst half of 2015, a 14.1 percent increase from KD 54.6 million over the same period of the previous year. Earning per share stood at 13.30 fils as compared to 11.64 fils for corresponding period of 2014.
The market opened weak and pulled lower in early trade as selling weighed on select counters. The price index drifted listlessly thereafter as investors toed cautions and bottomed at 5,738.73 pts in final minutes before paring back some of the losses at close.
Top gainer of the day, HumanSoft Holding climbed 6 percent to KD 1.060 while Qurain Holding rose 5.88 pct to stand close behind. The Sultan Centre slid 7.25 percent, the steepest decliner of the day and Investors Holding Co topped the volume with over 11 million shares.
Mirroring the day's decline, the market spread was skewed towards the losers. 20 stocks advanced whereas 70 closed lower. Of the 129 counters active on Wednesday, 39 closed flat. 3,054 deals worth 8.2 million were transacted € over 33 percent drop from the day before.
National Industries Group clipped 2 fils and Kuwait Foundry Co followed suit to close at 222 fils. Kuwait Cement Co and Kuwait Portland Cement were unchanged at KD 0.360 and KD 1.140 respectively whereas Equipment Holding Co dialed down 2 fils.
Paused
Gulf Cable and RISCO paused at KD 0.425 and KD 0.350 respectively whereas Heavy Engineering Industries and Storage Co was down 8 fils at KD 0.130. Qurain Petrochemical Industries Co was steady at KD 0.176 and Salbookh Trading Co closed 3 fils lower.
Combined Group Contracting Co tumbled 50 fils and Automated Systems Co pulled 20 fils higher. The company has recorded a net profit of KD 503,093 and earnings per share of 10.05 fils in the first six months of 2015 as against net profit of KD 1.04 million and earnings per share of 20.82 fils in the year before period.
Zima Holding dropped 10 fils to KD 0.146 while Mezzan Holding Co was flat at KD 1.000. 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.
Jazeera Airways climbed 10 fils to KD 0.465 and ALAFCO paused at KD 0.218. Mashaer Holding held steady at KD 0.110 and Future Communications Co Global closed 6 fils lower.
Noor Financial Investment and Sokouk Holding dialed down 2 fils each and Bayan Investment Co inched 1 fil lower. 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.
Al Mazaya Holding fell 2 fils and Mabanee Company dropped 10 fils to KD 0.860. 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, Commercial Bank of Kuwait climbed 10 fils to KD 0.560 and Ahli United Bank followed suit to end at KD 0.540. Kuwait International Bank eased 2 fils to KD 0.230 and Burgan Bank was flat at KD 0.395.
Boubyan Bank closed 5 fils higher partly recovering the drop in the last session. National Real Estate Co clipped 2 fils and Alargan International Real Estate Co added 2 fils. Securities House Co slipped 3.5 fils and Securities Group paused at 112 fils.
The bourse was has been bearish so far during the week and has dived 113 points in last four sessions. It had plunged 567 points during whole of August and is trading 11.82 pct lower year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region.
In the bourse related news, 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.
Safat Energy Holding Company has incurred a net loss of KD 82,966 and losses per share of 0.14 fils narrowing from net loss of KD 333,485 and losses per share of 0.55 fils in the same period last year.
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.
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