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MENAFN - Arab Times - 11/07/2012

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(MENAFN - Arab Times) The bourse edged 10.89 points higher in the green recouping some losses from the previous session; closing at 5,853.08 points even as political impasse continues to subdue investor sentiments. The weighted index rose by 0.99 points to read 404.32 at closing.
The KSE 15 benchmark pulled 1.5 points higher to 980.3 while active counters traded 147,592,956 shares to the value of KD 11.87 million in 3,298 transactions. 130 companies traded with 50 gainers and 38 losers, 42 experienced no change.
Early trade struggled to keep its head above water and the bourse dipped under mid day as the market breadths remained marginally negative. However, indices recovered from the 20 point pit, in the final hour, most ending flat with meagre gains.
Warba Insurance Company scaled a 9.8 point lead to become the top gainer of the session at 112 fils for 5,530 shares. National Slaughter House Co followed in toe with a 7.35 point increase leading to a 146 fils price.

Boubyan International Industries Holding Company gained 7.14 points to 60 fils while Ithmaar Bank and Ajwan Gulf Real Estate Co both gained 7.04 points to finish on 38 fils.
Kuwait Portland Cement Company closed at 860 fils with a 20 point hike that marks a 16 per cent year to date change.
City Group Company tumbled 50 points to 500 fils becoming the day's top loser with a 9.09 per cent slash. Mabanee Co dropped 20 points winding up at KD 1.140 and a 1.74 per cent decline trading 68,257 shares for 77,813.
Kuwait Real Estate Holding Co abated 5 points to 67 fils and Burgan Well Drilling Co curtailed at 5.38 to close low at 176 fils.
The banking sector clawed out a 1.18 increase to 966.7 points even as investors toed caution. National Bank of Kuwait remained steady at KD 1.040 exchanged 84,118 shares for KD 87,523. Commercial Bank of Kuwait spiked 40 points to 770 fils with a 5.48 per cent change with low volume and Al-Ahli Bank of Kuwait, up by 30 points closed at 689 fils.
Indices of Gulf Bank, Kuwait International Bank, Burgan Bank and Boubyan Bank showed no change. Kuwait Finance House, poised at 710 fils, traded 1.8 million shares for KD 1.28 million.
The telecommunications sector saw a 29.15 per cent drop in volume and closed at 898 fils. Mobile Telecommunications Company (Zain) also remained steady at 710 fils exchanged 1.4 million shares for KD 1.04 million.

The financial services sector accounted for 49.45 per cent of the total volume and 39.61 per cent of value in the market today. National Investments Co shed 2 points to close at 106 fils and Kuwait Projects Co Holding (KIPCO) held it ground unchanged at 350 fils while trading 2,640,790 shares for KD 924,259 and a 17 per cent rise on a year to date basis.
Gulf Finance House traded a whopping 20 million shares at 39 fils, 2.67 per cent higher than the day before. Sokouk Holding Co at 20 fils a piece swapped 9,779,895 shares amounting to KD 200,837.
Al Madina for Finance and Investment Co with a 2 point drop to 52 fils moved 8,319,470 shares closing at 52 fils.
Al Salam Group Holding Co transacted 832,399 shares for a 2 point boost and a 146 per cent year to basis change. Shuaiba Industrial Co saw a 6.94 per cent surge from a 10 point rise closing at 154 fils on trading 5,422,315 shares for KD 815,448.
Technology sector eased 0.63 per cent and fell 40.51 per cent in volume from the prior session. Al-Safat Tec Holding Company scrapped 2 points falling to 61 fils while Hayat Communications Co stagnated at 108 fils.

The oil and gas sector went up 4.78 points to 464.09 points. Ikarus Petroleum Industries Co shot up by 8 points to 172 fils after opening at 154 fils, Gulf Petroleum Investment 53 fils at closing exchanged 2,941,116 shares.

The real estate sector picked up 91.15 per cent in terms of volume and closed 0.10 per cent lower at 909.2 points. Tamdeen Real Estate Company, unaffected during the day, closed at 230 fils, 4 points higher while trading 10,500 shares.

Ajial Real Estate Entertainment Co, also sporting a 4 point swell, closed at 158 fils while Investors Holding Group Co at 19 fils, up 0.5 points traded 6,246,244 for KD 115,640.

The Commercial Real Estate Co, down 3 points closed at 73 fils after trading 3,050,300 shares for KD 224,071.

Jazeera Airways Co went up by 5 points to 380 fils. Soor Fuel Marketing Co pulled higher by 8 point to finish at 238 fils.

In related bourse news, Kuwait Stock Exchange announced on Monday, the sale of 29 per cent of National Slaughter House Co's shares, that number 8,375,200, at 150 fils per share with a total value of KD 1,256,280 in favor of Global Investment House Clients' accounts (Kuwait Holding Co).

The bourse has lifted the suspension on trading International Finance Company's shares as of July 9, 2012.

Sokouk Holding Co disclosed the intention of Elaf Bank, its affiliate bank in Bahrain, to merge with each of Capivest Bank and Capital Investment Bank. The merger process is expected to be finalized before end of 2012.
Global Investment House Co announced the final settlement of its debts for local bank. It paid KD 854,080 according to the settlement contract signed in last June.

Gulf Finance House stated that it would hold a board meeting on Aug 12 to discuss the financial results of second quarter ending June 30, 2012.
The Dow Jones Islamic Market Kuwait Index closed down 0.11 percent in June.

The Dow Jones Islamic Market Titans 100 Index finished June up 4.66 per cent, according to data complied by S&P Dow Jones Indices.

The index measures the performance of 100 of the world's leading Shari'ah complaint stocks and was introduced in 1999 intended to measure the global universe of investable equities that pass screens for Shari'ah compliance.


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