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Kuwait- Hits Telecom Takes Biggest Advancement Of 8.2 Percent  Join our daily free Newsletter

MENAFN - Arab Times - 04/08/2012

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(MENAFN - Arab Times) Kuwait stocks pulled 0.03 per cent higher into the green. The bourse wound up at 5723.61 points with a marginal 1.89 point rise that puts it 23.36 points lower than last week's close. The weighted index eased 1.19 points lower to stand at 394.61 points.

The KSE 15 benchmark trailed 6.41 points lower to a 950.5 points close. 2,297 transactions were conducted today over a volume of 94.9 million amounting to a total value of KD 11.25 million. 111 counters were open today, 34 of these advanced and 39 faced decline while 38 logged no change.

Hits Telecom Holding Co took a 8.2 per cent leap to the green, finishing at 66 fils over a volume of 7.88 million to make the biggest advancement in terms of percentage. Al Nawadi Holding Co followed close in step with a 8.16 per cent rise to 106 fils over 117,666 in volume.

Kuwait United Poultry Co traded 10,000 shares to close at 150 fils, up 7.14 per cent from the previous session. National Industries Co closed 6.78 per cent higher at 315 fils trading 567 shares while Jazeera Airways Co advanced by 6.33 per cent to a 420 fils close and exchanged 237,054 shares.

Al Masaken International Real Estate Development Co took a deep dive into the red, falling 12.82 per cent to 17 fils although trading a meager 50 shares. Manafae Investment Co moved a load of 130, 101 shares to a 54 fils close, losing 8.47 per cent.

Securities Group Co dropped lower by 7.14 per cent to 130 fils and Flex Resorts and Real Estate tumbled 6.58 per cent to 71 fils after exchanging 36,050 in volume. Al Massaleh Real Estate Co closed at 77 fils, inching 6.1 per cent lower and trading 81,000 shares.

National Ranges Co was the most active in terms of volume, trading 12.44 million in volume to close at an unchanged 18 fils. Al Salam Group Holding Co scaled 3./66 per cent upwards to 255 fils and traded a load of over 8 million, Hits Telecom followed with a 7.88 million move at 66 fils and Al-Madina for Finance and Investment Co exchanged 7.22 million shares at a steady 48 fils. 5.4 million of International Financial Advisors' shares changed hands at an unaffected 40 fils.

United Foodstuff Industries Group Co, Kuwait Resorts Co, Securities Group Co, Tamdeen Real Estate Co and Salbookh Trading Co were among the least active in terms of volume today.

National Bank of Kuwait dipped 10 points lower to 990 fils and traded a volume of 520,500 for KD 519,895. Gulf Bank traded 33,000 shares for a value amounting to 13,095 after ending flat 400 fils. Commercial Bank of Kuwait slumped 40 points down to 750 fils while Kuwait International Bank took a 5 point tumble to 250 fils trading 150,107 shares for KD 37,576.

Burgan Bank closed at 470 fils after opening at 465 fils and traded 105,000 shares for KD 48,850. Kuwait Finance House and Boubyan Bank also closed flat at 690 fils and 600 fils respectively; Ithmaar bank inched higher by 0.5 points to 36 fils.

Financial Services closed at 449.03 points, down by 2.5 points. National Investments Co rose 2 points higher to 104 fils, trading 429,150 shares for KD 43,792. Kuwait Projects Co remained unchanged at 360 fils whilst trading over 2 million shares for a value of KD 732,156.

Al Aman Investment Co shed 1.5 points to close at 48.5 fils, moving a load of 802,050 shares for KD 39,563. Gulf Investment House slipped 0.5 points under to 23 fils while Al Deera Holding Co slipped 1 point lower to 33 fils. Al-Salam Group Holding Co surged 9 points ahead to 255 fils and Al Imtiaz Investment Group slumped 1 point lower to 79 fils.

National Industries Group dropped 2 points to 186 fils, trading 212,436 for KD 39,533. Gulf Finance House held ground at 36 fils, trading 1.78 million for KD 63,304 and Inovest slid 0.5 points down to 37 fils after trading 450,010 shares for KD 16,650 in the session.

Mobile Telecommunications Co (Zain) remained unchanged at 680 fils while trading 288,612 for KD 198,956. Zain announced that it will not book an impairment in the third quarter for its key Sudan unit after the Sudanese pound was devalued by 40 percent in a move that cuts the dollar value of the subsidiary's earnings.

United Real Estate Co moved 2 points higher to 112 fils, trading 900,000 shares for KD 100,800 while Kuwait Real Estate Co eased 0.5 points lower to 47 fils. Mabanee Co held its ground at KD 1.160 and traded over 1 million in volume for KD1.17 million.

The Commercial Real Estate Co steady at 72 traded 1.13 million shares in the session today. Aayan Real Estate Co slumped 2 points lower to 71 fils, trading 1.37 million shares.

Tijara& Realestate Investment Co at a steady 43 fils close, exchanged 2.8 million shares in the day. Abyaar Real Estate Development Co close flat at 40 fils as did Kuwait Remal Real Estate Co at 400 fils, trading 2.75 million for KD 1.09 million.

Refrigeration Industries Co moved 10 points higher to 200 fils, Gulf Cable & Electrical Industries Co retreated by 20 points to KD 1.080 and Heavy Engineering and Shipbuilding Co moved 4 points higher to 186 fils. Gulf Glass Manufacturing Co remained steady at 710 fils as did Agility Public Warehousing Co, closing at 385 fils. National Cleaning Co swept 4 points higher to 122 fils as Aviation Lease and Finance Co closed flat at 270 fils.

In related news, Development Projects Holding Co. announced completing the procedures of acquiring 66.76 per cent of Aref Energy's shares on Aug 1 amounting to 500,708,888 shares at 134 fils per share for a total value of KD 67,094,990.

Al-Nawadi Holding announced its results for the First Half ended on 30th June, 2012 with a net profit of KD 1,061,993 and earnings per share of 9.1 fils, the net profit of the same period last year was KD 771,800 and the earnings per share were 6.6 fils. Kuwait Resorts announced its results for the First Half with a net profit of KD 916,947 Earnings per share of 5.21 fils.


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