(MENAFN- Arab Times) Kuwait stocks advanced on Monday extending the gains to fourth straight session. The price index, after a tame start, climbed 33.26 points to 5,284.37 points helped by speculative buying in select counters even as oil prices ticked higher
The KSX 15 index rose 1.47 pts to 853.73 points taking the month's gains to 3 points while weighted index inched 0.12 pts lower. The volume turnover meanwhile bounced to 10-month high. 279.38 million shares changed hands € a 19.7 pct rise from the day before.
The sectors closed mostly in the green turf. Healthcare outshone the rest with 2.57 pct gain whereas telecommunications shed 1.25 pct, the biggest loser of the day. In terms of volume, financial services accounted for the highest market share of 50.3 pct while real estate and banks trailed far behind with 20.12 pct and 9.4 percent contributions respectively.
In the individual shares, National Bank of Kuwait slipped 10 fils to KD 0.660 erasing the gains in the last session while Burgan Bank added 5 fils to end at KD 0.340. Kuwait Food Co (Americana) climbed 20 fils to KD 2.580 taking the month's gains to 120 fils.
Zain was unchanged at KD 0.350 after trading over 1 million shares and Wataniya Telecom (Ooredoo) too did not budge from its earlier close of KD 1.140 with thin volume. Kuwait Telecommunications Co (VIVA) shed 20 fils whereas Agility stood pat at KD 0.465.
Investment conglomerate KIPCO was unchanged at KD 0.560 and Sokouk Holding Co inched 1 fil higher. The company has posted a net loss of KD 764,320 and losses per share of 1.3 fils in the year ending Dec 31, 2015 as against net profit of KD 5.01 million and earnings per share of 8.8 fils .
The market opened flat and edged lower in early trade. The main gauge hit the day's lowest level of 5,244.09 points and headed north thereafter amid buying in select counters. It continued to rise in the second half and closed with modest gains.
Top gainer of the day, Al Aqaria rallied 13.8 pct to 20.5 fils and National Investment Co climbed 8.7 pct to stand next. Kuwait Cable Vision Co slid 8.7 pct, the steepest decliner of the day and Al Mal topped the volume with over 34 million shares.
Reflecting the day's upswing, the market spread was skewed towards the winners. 55 stocks advanced and 28 closed lower, Of the 132 counters active on Monday, 49 closed flat. 5,156 deals worth KD 14.5 million were transacted € a 5.3 pct rise in value from the day before.
National Industries Group traded range bound before closing flat at KD 0.128 while Kuwait Cement Company and Gulf Cable rose 5 fils each to close at KD 0.380 and KD 0.365 respectively. Kuwait Portland Cement held steady at KD 1.020 and Kuwait Foundry Co followed suit.
Jazeera Airways climbed 10 fils to KD 0.900 after stagnating in the previous session and ALAFCO rose 6 fils to settle at 216 fils. Kuwait and Gulf Links Transport Co eased 2 fils and KGL Logistics Co inched 1 fil lower to 72 fils.
Paused
Equipment Holding Co took in 2 fils on back of 6.1 million shares and ACICO Industries Co paused at 280 fils. The company has posted a net profit of KD 8.38 million and earnings per share of 30.69 fils in the year ended Dec 31, 2015 and the Board of Directors has proposed 15% cash dividends and 5% bonus shares.
PAPCO dialed up 2 fils while United Projects Group and Yiaco Medicals Co gained 10 fils each to close at KD 0.730 and KD 0.180 respectively. Qurain Petrochemical Industries Co was up 2 fils at 198 fils.
Automated Systems Co shed 15 fils and IFA Hotels and Resorts Co stood pat at 186 fils. The company has logged a net profit of KD 2.40 million and earnings per share of 3.95 fils in 2015 rebounding from net loss of of KD 29.92 million and loss per share of 49.04 fils in the year before.
Mashaer Holding gave up 5 fils and Zima Holding closed 1.5 fils in red. Safwan Trading and Contracting Co jumped 20 fils with thin trading. Al Nawadi Holding Co was unchanged at 75 fils.
In the banking sector Gulf Bank rose 6 fils on back of 2.9 million shares whereas Al Ahli Bank and Ahli United Bank were unchanged at KD 0.335 and KD 0.440 respectively. Commercial Bank of Kuwait was not traded during the session.
Kuwait Finance House was flat at KD 0.485 off slight early lows and Kuwait International Bank followed suit. Boubyan Bank too stagnated at KD 0.395 and Warba Bank dialed up 2fils.
Kuwait Investment Co inched 1 fil up while Bayan Investment Co and KFIC added 1 fil each to end at 34 fils and 35 fils respectively. Gulf Investment House added 2 fils on back of 8.7 million shares and Tamdeen Investment Co closed flat.
National Real Estate Co and Tamdeen Real Estate paused at 90 fils and KD 0.550 respectively and Mabanee Co too stood pat at KD 0.860. Al €Mazaya Holding Co dialed up 2 fils.
The market has been positive so far during the week and has gained 54 points in last two sessions. The price index has climbed 56 points so far during the month but is down 5.89 pct year-to-date. KSE, with 190 listed companies, is the second largest bourse in the region.
In the bourse related news , KAMCO Investment Company has logged a net profit KD 523,688 and earnings per share of 2.20 fils in the year 2015 as against net profit of KD 1.96 million and earnings per share of 8.23 fils during the year before
Gulf Investment House has clocked a net loss KD 6.085 and losses per share of 37.07 fils in the year ending Dec 31, 2015 as compared to net loss of KD 1.62 million and losses per share of 10.42 fils in 2014.
Tamdeen Investment Co has posted a net profit of KD 11.52 million and earnings per share of 39.07 fils in the year ending Dec 31, 2015, up from net profit of KD 9.05 million and earnings per share of 30.41 fils in the year before.
Salhia Real Estate Company has posted an annual net profit of KD 11.62
million and earnings per share of 23.55 fils as compared to net profit of KD 11.42 million and arnings per share of 23.07 fils. The Board of Directors has recommended 20 pct cash dividends.
Injazzat Real Estate Development Company has clocked a net profit KD 3.07 million and earnings per share of 9.2 fils in 2015, rising sharply from net profit of KD 1.51 mln and earnings per share of 4.5 fils in the same period last year . The BOD has recommended 5 pct cash dividends.
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