(MENAFN - Arab Times) Kuwait stocks rebounded Monday from the shallow trough in the previous session.The index rose 14.12 points in choppy trade led by select mid and low caps even as the heavyweights remained subdued.
The trading floor sentiment was largely cautious in absence of catalysts. The KSX 15 gauge climbed 2.28 points to 994.31 and is over 5 pts shy of its baseline level while the weighted index edged 0.74 pts higher. The volume turnover meanwhile rebounded from the month's lowest level in the day before. 299.53 million shares changed hands - a 51.55 percent jump from Sunday.
The sector closed mixed. Oil and gas outpaced the rest with 1.60 percent upswing whereas healthcare tumbled over 3 percent - the worst performer of the day. In terms of volume, financial services garnered the highest market share of 46.25 percent and real estate followed with 40.39 percent. National Industries Company climbed 25 fils to KD 0.290 and Burgan Well Drilling Co was up 6 fils. National Industries Group took in 2 fils on back of 1.33 million shares. The stock has added 12 fils from start of the month while year-to-date it has tumbled 42 fils.
Contracting and Marine Services Co rose 6 fils with razor thin volume and Kuwait Portland Cement gained 20 fils to settle at KD 0.980. The company has recorded a profit of KD 6,414,466 and earnings per share of 70.56 in the January-September period of 2012. Kuwait Gulf Links edged 2 fils up while KGL Logistics Co added 5 fils to wind up at KD 0.280.
Lows
Agility pulled up from early lows to close unchanged at KD 0.520 and Wataniya Telecom too held the ground steady at KD 2.160 . The stock has retreated 80 fils so far during the month while year-to-date, it has rallied 220 fils. Bourse heavyweight Zain gained 10 fils on back of 1.03 million shares to end at KD 0.760. The telco has logged a third-quarter net profit of KD 59.7 million, down 15 percent from the year before period. Kuwait Cement Co was up 5 fils at KD 0.405 recouping the loss in the previous session.
The market opened flat and rose slightly in early trade. The index drifted higher to its highest level of 5783.86 points before slipping into red almost half way into the session. It bottomed at 5765.47 points before clawing back to close in positive territory. Top gainer of the day, NICBM spiked 9.43 percent to KD 0.290 and Danah climbed 7.69 percent to stand next. United Food Industries Group dived 20.69 percent, the steepest decliner of the day, and Gulf Investment House topped the volume with 43.58 million.
The market spread was biased towards the winners. 58 stocks advanced whereas 35 closed lower. Of the 132 counters active on Monday, 39 closed flat. Of the 132 counters active on Monday, 39 closed flat. 5259 deals worth KD 20.30 million were transacted - a 48.99 percent surge in value from the day before.
On the downside, Combined Group Contracting Co dropped 20 fils to KD 1.460 while Automated Systems Co eased 5 fils to KD 0.460. Advanced Technology Co shed 20 fils to KD 0.405 and Yiaco Medicals followed suit to end at KD 0.380. United Industries Co edged 2 fils lower while ALAFCO was down 5 fils at KD 0.320.
Among the banks, National Bank of Kuwait was off early highs to end flat at KD 0.900 and Gulf Bank too did not budge from its early close of KD 0.415 after trading 0.92 million shares. The lender has posted a 5.6 percent increase in third-quarter net profit to KD 9.62 million compared with KD 9.11 million in the same period last year.
Ahli United Bank slipped 10 fils to KD 0.840 whereas Commercial Bank of Kuwait and Al Ahli Bank were not traded during the day. Kuwait International Bank erased 5 fils to end at KD 0.290 and Burgan Bank was steady at KD 0.520. The stock has gained 10 fils from start of the month and is trading 45 fils higher YTD.
Flat
Kuwait Finance House was flat at KD 0.780 off early lows and Boubyan Bank followed suit to end at KD 0.620. The bank has posted a 11 percent rise in net profit to KD 7.6 million in the first nine months of 2012.
Kuwait Food Co ( Americana) was flat at KD 1.600 after posting modest gains in the previous session and Jazeera Airways too was unchanged at KD 0.455. The carrier has recorded a net profit of KD 11,437,703 and earnings per share of 47.26 fils in the January-September period of 2012.
Kuwait Investment Co stagnated at KD 0.100 and National Investment Co edged 2 fils lower. The company has notched a net profit of KD 5,648 million and earnings per share of 6 fils in first nine-months of 2012. International Finance Co added 3 fils on back of 16.22 million shares and Securities House was up 3.5 fils.
Noor Financial Investment Co and Sokouk Holding Co rose 1 fils each and KAMCO was unchanged at KD 0.106. KIPCO closed flat at KD 0.106. The company has obtained the Capital Market Authority approval to buy-back or sell up to 10 percent of own shares over 6 months.
National Real Estate Co rose 6 fils and Mabanee Co pulled 20 fils higher to wind up at KD 1.260. The company has chalked a net profit of KD 21.36 million in the first nine months of the year. Mazaya Holding Co ticked 1 fils up.
The bourse has been mixed so far during the week and has shed 17.14 pts in last two sessions . The index gas gained 16.4 points from start of the month and is up 0.14 percent year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region. In the bourse related news, International Finance has logged a net profit of KD 174,952 and earnings per share of 0.22 fils in the first nine months of 2012 after chalking a net loss of KD 9.32 million and LPS of 13.71 fils in the same period last year.
Aayan Leasing and Investment has recorded a nine months net profit KD 17.62 million and earnings per share of 38.26 fils in the January-September period as against net loss of KD 7.22 million and loss per share of 21.90 fils in 9M 2011. Abyaar Real Estate Development has announced a net loss KD 1.24 million and loss per share of 1.15 in the first nine months of 2012 as against earnings of KD 821,618 and EPS of 0.78 fils in the same period last year.
Kuwait Real Estate has registered a net profit KD 1.733 million and EPS of 1.91 fils in the January-September period as against earnings of KD 877,467 and earnings per share of 0.97 fils in the same period last year.
