(MENAFN - Arab Times) Kuwait stocks inched 4.33 points lower in the red to read 5,856.05 at the day's close marking a 0.07 percent contraction amid downbeat investor sentiment.
The weighted index slid 0.19 points higher to 405.79 points. The KSE 15 benchmark edged higher by 4.33 points to finish at 990.43 points; a total value of KD 14.59 million was exchanged over a volume of 151.3 million in 3,304 transactions. 130 active counters remained subject to mixed sentiments as 48 remained flat, 45 accrued losses and only 40 gained during the session.
Mabanee Co extended its gains with a 60 point spike to KD 1,260 fils. The company ended the session 48 percent higher year to date after trading a little over 2 million shares for a value of KD 2.48 million while underlining a 5 percent increase from the previous session.
Mobile Telecommunications Company (Zain) surged by 10 points and traded 1.3 million shares for KD 909,914 with a 1.45 percent augment from the last session but on a 21 percent decline year to date.
Agility Public Warehousing Company remained steady at 410 fils with a 11 percent year to date rise after trading 2.16 million shares for KD 876,055.
Commercial Bank of Kuwait stood at 770 fils with a 30 point hike and a 4.05 percent positive change. Gulf Glass Manufacturing Company climbed 20 points to 730 fils and traded 2510 shares. Kuwait Cable Vision Co topped the list of gainers in terms of percentage with a 7.07 percent hike to 53 fils while Fujairah Cement Industries Co tracked a 6.67 percent shift to the green, rising from 75 fils to 80 fils and trading 1.1 million shares for KD 88,363. Sharjah Cement and Industrial Development Co extended its index by 5.19 percent exchanging 1.07 million shares for KD 85,960 at 81 fils each.
Jazeera Airways gains 25 points and a 7.04 percent increase from 355 fils to 380 fils; 511,348 of its shares changed hands for a total value of KD 191,937. Gulf Glass Manufacturing Company scaled 20 points higher to finish at 730 fils. Kuwait Finance House protracted 10 points to the fore and traded a volume of 900,266 shares for KD 644,396.
The banking sector grew 165.35 percent in volume and 60.79 percent value of the total market from the previous day, closing at 967.6 points. Al Ahli Bank suffered a 40 point tumble to 630 fils recording a 5.97 percent narrowing.
National Bank of Kuwait trailed 20 points lower to finish at KD 1.040 after trading a volume of 290,053 for KD 301,905. Kuwait International Bank, cresting by 5 points traded 2.35 million shares at 265 fils each while Ithmaar Bank traded a volume of 12.3 million at 36 fils, 1.41 percent higher than the day before.
Financial services made up half of the total volume traded in the market but only 28.67 percent of the total value as it closed at 841.1 points with a 0.49 percent drop. 24.86 million INOVEST shares were traded today at 2.53 percent lower than the previous session. Kuwait Financial Centre (Markaz), Kuwait and Middle East Financial Investment Co, Al Aman Investment Company and First Investment Company finished 2 points higher at 120 fils, 45 fils, 58 fils and 136 fils respectively.
Real Estate closed at 908.3 points, 0.07 percent higher from the day before, accounting for 23.51 percent of the total volume traded and 25.4 percent of its value. Sokouk Holding Co closed at 18.5 fils, 0.5 points higher after trading 14 million shares for a 9 percent year to date rise. Investors Holding Group Co noted a 2.86 percent rise to 18 fils and traded 5.34 million for KD 95,687 with a 50 percent year to date increase. The Commercial Real Estate Co held steady at 73 fils and exchanged 730,231 for KD 53,307.
Among other losers, Specialities Group Holding Co shed 25 points to 475 fils noting a 5 percent decrease; Nafais Holding Company dropped 13 points resulting in a 12.26 percent negative change making it the top loser in terms of percentage.
KIPCO Assets Management Company dropped 10 points to 216 fils and a 4.42 percent cut from the previous session and 11 percent lower on a year to date basis. Amar for Finance and Leasing Co dropped from 56 fils to 51 fils and traded 89,999 shares in three transactions while Warba Insurance Company, down 10 points to 116 fils exchanged a volume of 10,722 shares. Meanwhile, Oula Fuel Marketing Company increased by 10 points to finish at 295 fils and Sultan Center Food Co fell 2 points to 102 fils. National Slaughter House Co slipped down 2 points to close at 152 fils.
In bourse related news, the Kuwait Stock Exchange announced a suspension on the trading of Jeeran Holding Co.'s shares as of July 16, 2012 on grounds of delay in presenting the financial results of the period which ended on May 31, 2012.
National Slaughter House Co. announced its results for the First Half ended on 30/6/2012 with a net profit of KD 314,939 and earnings per share amounting to 10.91 fils compared to KD 191,938 net profit of the same period last year and 6.65 fils earnings per share for the same period. The Securities House also announced this week, its desire to own 45% in Al Aman Investment Co. by acquisition or by merger in order to establish a strong economic entity.
Tijara & Real Estate Investment Co announced the signing of a preliminary contract to sell real estate assets inside Kuwait with a total value of KD 24.35 million with an expected profit of KD 3.949 million. The contract is conditioned on the buyer paying the amount within 21 days of signing the contract.