(MENAFN- Arab Times) Kuwait stocks closed higher on Sunday marginally extending the rebound from the last session. The price index rose 6.89 pts in volatile trading to 5716.7 pts helped by buying in some of the mid and small caps. The banks and other blue chips mostly headed south even as oil prices firmed up slightly after the losing streak.
The KSX 15 benchmark dropped 10.66 pts to 914.44 points taking the month's losses to 5 points while weighted index slipped 3.36 pts. The volume turnover meanwhile receded below the 200 million mark after hitting the month's highest on Monday. Over ` 199 million shares changed hands - a 13.19 pct drop from day before.
The sectors closed mostly in green. Technology outshone the rest with 1.31 percent gain whereas banks shed 1.70 percent, the biggest loser of the day. In terms of volume, financial services clocked the highest market share of 50.6 pct while real estate trailed far behind with 28.69 percent contribution.
In the individual shares, Kuwait Food Co (Americana) saw a blistering rise of 100 fils extending an identical gain in the last session while Humansoft Holding Co lunged 90 fils to wind up at KD 1.080. National Bank of Kuwait gave up 10 fils and Kuwait Finance House was down by same measure to end at KD 0.570.
Telecom major Zain was unchanged at KD 0.365 with a volume turnover of 1.8 million and Wataniya Telecom (Ooredoo) was down 20 fils at KD 1.060 erasing the gains in the last session. Kuwait Telecommunications Co (VIVA) dropped 20 fils to KD 1.060 and Agility gave up 10 fils.
Investment conglomerate KIPCO slipped 10 fils to KD 0.600 and Kuwait Financial Centre (Markaz) clipped 2 fils. 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.
The market opened firm but fell into red in early trading. The main gauge moved sideways briefly before retreating further as selling weighed on select counters. It plumbed the day's lowest level of 5672.71 almost half into the session before bouncing back to close with marginal gains.
Top gainer of the day, Ras Al Khaima White Cement Co spiked 10 pct to KD 0.110 while National Investment Co climbed 9.26 pct. Eyas For Higher and Technical Education slid 7.58 pct, the steepest decliner of the day and Al Dar National Real Estate Co continued to top the volume with 40.7 million shares.
Despite the day's uptick, the market spread was skewed towards the winners. 43 stocks advanced whereas 56 closed lower. Of the 137counters active on Tuesday, 38 closed flat. 4519 deals worth KD 12.12 million were transacted - a 9 pct drop in value from the day before.
National Industries Group eased 2 fils to KD 0.148 reversing the rise on Monday and RISCO dropped 20 fils to KD 0.320. NIG 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.
Clipped
Gulf Cable clipped 5 fils and Heavy Engineering Industries and Shipbuilding Co was down 10 fils at KD 0.128. ALAFCO dialed down 2 fils and Jazeera Airways vacillated in tight range before closing flat at KD 0.455
Kuwait Portland Cement held steady at KD 1.120 and ACICO Industries followed suit to close at KD 0.300. Gulf Glass Manufacturing Co paused at KD 0.500 off sharp early lows and Mezzan Holding Co too did not budge from its previous close of KD 1.040.
Kuwait and Gulf Link Transport Co was flat at 45 fils and KGL Logistics Company followed suit. The company has posted a net profit of KD 3.49 million and earnings per share of 5.82 fils in the first half of 2015, up from net profit of KD 2.73 million and earnings per share of 5.06 fils in the same period last year.
Mashaer Holding Co clipped 2 fils while Zima Holding Co pulled 8 fils lower. Qurain Petrochemical Industries Co gave up 4 fils and Al Mowasat Health Care Co shed 10 fils
On the upside, Contracting and Marine Services Co and Kuwait Foundry Co climbed 8 fils each while Boubyan Petrochemicals Co added 5 fils. NICBM rose 4 fils and Al Rai Media Group Company closed 6 fils higher.
Tamdeen Investment Co jumped 25 fils and Kuwait Insurance Co gained 20 fils to end at KD 0.315. Equipment Holding Co inched 1 fils up and Kuwait National Cinema Company rose 20 fils to KD 1.000.
In the banking sector, Commercial Bank of Kuwait slid 30 fils and Ahli United Bank was down 20 fils at KD 0.520. Gulf Bank held steady at KD 0.265 off early lows and Kuwait International Bank edged 2 fils into red. Burgan Bank fell 5 fils to KD 0.390 and Boubyan Bank pulled 10 fils lower.
Kuwait Investment Co took in 2 fils and Commercial Facilities Co climbed 10 fils to KD 0.186. Securities Group Company eased 2 fils whereas Securities House Co paused at 50 fils. Al Mal added 2.5 fils on back of 7.3 million shares.
Mabanee Co retreated 10 fils while Al Mazaya Holding and United Real Estate Co slipped 4 fils each. National Real Estate Co rose 3 fils to 81 fils.
The bourse has been mixed so far during the week and has dipped 42 points in last three sessions. The price index has slid 104 points from the start of the month and is trading 12.53 pct lower year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region.
In the bourse related news, 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.
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.
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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