(MENAFN- Arab Times) Kuwait Stock Exchange (KSE) ended last week in the red zone. The Price Index closed at 5,713.99 points, down by 0.88% from the week before closing, the Weighted Index decreased by 0.78% after closing at 383.71 points, whereas the KSX-15 Index closed at 923.32 points down by 0.72%. Furthermore, last week's average daily turnover decreased by 13.93%, compared to the preceding week, reaching KD 11.72 million, whereas trading volume average was 119.63 million shares, recording a decrease of 39.69 %.
Kuwait Stock Exchange's three indicators closed with different losses last week as a result to the continued speculative operations in controlling the trading activity in the market, among concentration on the small-cap stocks in particular, as the market recorded losses in parallel with a noticeable decline in the liquidity levels compared to the week earlier.
As far as the daily trading activity; the market ended the first weekly sessions with mixed closings for the three indices, whereas the Price Index continued its downward direction under the influence of the selling trend concentrated on the small-cap stocks, while the Weighted and KSX-15 indices were able to take an upward direction affected by the purchasing powers that were present during the session, and concentrated on some leading stocks, among a decreased trading activity especially the volume which declined by 23.96%.
On the second session of the week, the Price Index was able to realize gain due to the active speculative operations that concentrated on the idle stocks in particular, whilst the strong profit collection operations forced the Weighted and KSX-15 indices to close in the red zone, as the KSX-15 Index lost a large portion of its previous gains and almost by 9.14 point.
However on the mid-week session, the three stock indicators declined steeply as a result to the heavy selling pressures which the low prices stocks were subject to after it realized different increases in the previous sessions, whereas the Price Index lost around 36 point, while the effect of the leading stocks was low to contribute to lighting the losses size by the end of the session. On Wednesday's session, the Price Index continued its decline, however slower, affected by the selling operations that concentrated on the small-cap stocks, while the Weighted and KSX-15 indices were able to realize limited increase supported by the random purchasing operations executed on some heavy stocks, among a noticeable increase in the liquidity level that reached around 19.3%.
Moreover, the market ended the last session of the week recording losses for the three indicators, affected by the selling operations that concentrated on most of the traded stocks, whereas the Price Index lost about 18.76 point among a decreased trading activity, especially the volume.
As far as KSE annual performance, the Price Index ended last week recording 12.57% annual loss compared to its closing in 2014, while the Weighted Index decreased by 12.57%, and the KSX-15 recorded 12.89% loss.
Sectors' Indices
Eight of KSE's sectors ended last week in the red zone, while four recorded increases. The Consumer Goods sector headed the losers list as its index declined by 7.75% to end the week's activity at 1,106.81 points. The Basic Materials sector was second on the losers' list, which index declined by 4.41%, closing at 957.07 points, followed by the Consumer Services sector, as its index closed at 1,009.47 points at a loss of 3.58%.
On the other hand, last week's highest gainer was the Telecommunications sector, achieving 0.53% growth rate as its index closed at 559.33 points. Whereas, in the second place, the Industrial sector's index closed at 1,075.04 points recording 0.32% increase, followed by the Real Estate sector as its index closed at 923.19 points recording 0.28% increase.
Sectors' Activity
The Real Estate sector dominated a total trade volume of around 202.56 million shares changing hands during last week, representing 33.86% of the total market trading volume. The Financial Services sector was second in terms of trading volume as the sector's traded shares were 33.75% of last week's total trading volume, with a total of around 201.90 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 14.23 million or 24.28% of last week's total market trading value. The Financial Services sector took the second place as the sector's last week turnover was approx. KD 13.54 million representing 23.11% of the total market trading value.
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