(MENAFN- Arab Times) Kuwait Stock Exchange (KSE) ended last week with mixed performance. The Price Index closed at 5,410.60 points, up by 0.62% from the week before closing, the Weighted Index decreased by 0.12% after closing at 354.93 points, whereas the KSX-15 Index closed at 814.65 points down by 0.42%. Furthermore, last week's average daily turnover decreased by 41.47%, compared to the preceding week, reaching KD 6.96 million, whereas trading volume average was 77.90 million shares, recording a decrease of 50.03%.
The three stock market indices witnessed a mixed closing as a result to the different traders' perspectives, whereas the Price Index was able to realize a relative increase, in light of the return of the active speculation to control the trading direction of the market once again, and was basically concentrating on the small-cap stocks; while the Weighted and KSX-15 indices could not record gains affected by the decline of some leading and operational stocks, especially in the Oil and Gas sector and the Consumer Goods sector, as it witnessed profit collection operations that caused it to drop by the end of the week. Also, it was noticed during the last week a return to the purchasing activity on some investment groups in the market, as it witnessed collection operations especially after its prices reached tempting levels, which positively affected the Price Index in particular.
As per the daily trading activity; Sunday's session witnessed a decrease in the three market indices due to the strong selling pressures that most of the traded stocks were subject to, especially the Banks Sector, in addition to the continued profit collection operations executed on some small-cap stocks. On Monday's session, the market was able to realize a grouped increase to the three indices, amid support of the random purchasing operations executed on some leading stocks that declined in the previous session, in addition to the speculative operations that concentrated on the small-cap stocks.
On mid-week session, the market fluctuated and the three indices closed mixed, whereas the Price Index was able to increase supported by the continued purchasing and collection operations executed on the small-cap stocks, while the quick profit collection operations pushed the Weighted and KSX-15 indices to close in the red zone; such performance came in light of a noticeable decline in liquidity levels, reaching its lowest level in around two years. Moreover, the market was able to realize a grouped increase to its indices on Wednesday's session, supported by the purchasing operations that included a wide range of stocks, in addition to the active speculative operations that concentrated on the small-cap stocks. On the end of week session, the market returned to its mixed performance, as the Price Index increased by the end of the session supported by the continued quick speculation on a number of small-cap stocks, while the Weighted and KSX-15 indices could not grow affected by the profit collection operations that the heavy stocks were subject to.
By the end of the week, the market capitalization for KSE reached KD 23.13 billion down by 0.16% compared to its level in a week earlier, where it reached then KD 23.16 billion; on an annual level, the market cap for the listed companies in the market dropped by 8.46% from its value at end of 2015, where it was KD 25.27 billion.
As far as KSE annual performance, the price index ended last week recording 3.64% annual loss compared to its closing in 2015, while the weighted index decreased by 7.01%, and the KSX-15 recorded 9.53% loss.
Sectors' Indices
Seven of KSE's sectors ended last week in the green zone, and four recorded declines, whereas the Health Care sector's index closed with no change from the week before. Last week's highest gainer was the Technology sector, achieving 3.48% growth rate as its index closed at 1,006.37 points. Whereas, in the second place, the Basic Materials sector's index closed at 947.53 points recording 3.22% increase. The Consumer Services sector came in third as its index achieved 2.95% growth, ending the week at 1,015.97 points.
On the other hand, the Oil & Gas sector headed the losers list as its index declined by 3.29% to end the week's activity at 742.92 points. The Consumer Goods sector was second on the losers' list, which index declined by 1.80%, closing at 1,102.05 points, followed by the Banks sector, as its index closed at 810.84 points at a loss of 0.36%.
Sectors' Activity
The Financial Services sector dominated a total trade volume of around 155 million shares changing hands during last week, representing 39.79% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector's traded shares were 18.95% of last week's total trading volume, with a total of around 73.81 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 8.75 million or 25.14% 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 6.99 million representing 20.07% of the total market trading value.
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