(MENAFN- Arab Times) Kuwait Stock Exchange (KSE) ended last week in the green zone. The Price Index closed at 5,764.92 points, up by 0.12% from the week before closing, the Weighted Index increased by 0.31% after closing at 386.71 points, whereas the KSX-15 Index closed at 929.97 points up by 0.60%. Furthermore, last week's average daily turnover increased by 5.99%, compared to the preceding week, reaching KD 13.62 million, whereas trading volume average was 198.38 million shares, recording an increase of 39.83%.
The three stock market indicators returned to meet in the green zone after three consecutive weeks of grouped losses, whereas it realized different gains as a result to the purchasing power that affected the leading and operational listed stocks, in addition to the quick speculation and the random purchasing operations that included some small-cap and mid-cap stocks. Also, the market was affected by the selling operations that were present during some sessions last week, as the market witnessed quick profit collection operations with negative impact on its indicators and were able to lighten its weekly gains, however negatively.
As far as the daily trading activity, the stock market ended the first session of the week with violent losses for the three indices, especially the Price Index which declined by more than 1.5% as a result to the random selling operations that the small-cap stocks were subject to and caused its prices to decline noticeably; the market witnessed such performance among an increased trading activity especially the traded volume. On the next session, the three market indicators were able to increase, compensating by this a part of its losses recorded in the previous session, as it came among an active purchasing included many large-cap and small-cap stocks, especially the ones of previous declines and tempting prices, in parallel with a noticeable increase in the trading activity.
However in the mid-week session, the stock market indicators witnessed mixed closings, whereas the Price Index was able to record slight increase affected by the quick speculative operations executed on the small-cap stocks in particular, while the profit collection operations forced the Weighted and KSX-15 indices to close in the red zone, among a declined trading activity. On Wednesday's session, the market was able to realize good gains for the three indices, especially the Weighted and KSX-15 indices which benefited from the active purchasing power that focused on the leading and heavy stocks, while the Price Index was able to end the session with relatively good gains, to compensate all the week's losses, among an increased trading activity, especially the liquidity which increased by around 35%. On the end of week session, the market could not continue its positive performance it witnessed in the previous two sessions, as it recorded a grouped decline for the three indicators as a result to the profit collection operations executed on most of the traded stocks, which limited the indices' gains on the weekly level.
On the other hand, the market cap for KSE reached by the end of last week KD 25.84 billion, increasing by 0.28% compared to its level in a week earlier, which reached then KD 25.77 billion. However on the annual level, the losses of the KSE listed companies market cap reached 7.65% compared to its value at end of 2014, where it reached then KD 27.98 billion.
As far as KSE annual performance, the Price Index ended last week recording 11.79% annual loss compared to its closing in 2014, while the Weighted Index decreased by 11.89%, and the KSX-15 recorded 12.26% loss.
Sectors' Indices
Eight of KSE's sectors ended last week in the green zone, four recorded declines. Last week's highest gainer was the Basic Material sector, achieving 5.66% growth rate as its index closed at 1,001.27 points. Whereas, in the second place, the Insurance sector's index closed at 1,125.76 points recording 3.59% increase. Followed by Consumer Goods sector's index closed at 1,199.85 points recording 2.81% increase.
On the other hand, the Health Care sector headed the losers list as its index declined 5.98% to end the week's activity at 968.38 points. The Consumer Services sector was second on the losers' list, which index declined by 1.73%, closing at 1,046.91 points, followed by the Banks sector, as its index closed at 900.30 points at a loss of 1.21%.
Sectors' Activity
The Financial Services sector dominated a total trade volume of around 382.69 million shares changing hands during last week, representing 38.58% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector's traded shares were 37.83% of last week's total trading volume, with a total of around 375.19 million shares.
On the other hand, the Financial Services sector's stocks were the highest traded in terms of value; with a turnover of around KD 19.59 million or 28.78% 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 15.34 million representing 22.53% 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.