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MENAFN - Arab Times - 16/12/2012

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(MENAFN - Arab Times) Kuwait Stock Exchange (KSE) ended last week with variance in its indices. The price index ended last week with an increase amounted to 0.87%, while the weighted index retarded by 0.29% compared to the closings of the week before. In addition KSX-15 index decreased by 0.95%.

Furthermore, last week's average daily turnover increased by 10.13%, compared to the preceding week, reaching KD 31.44 million, whereas trading volume average was 366.12 million shares, recording decrease of 8.63%. Kuwait Stock Exchange had mixed performance last week due to the difference in traders' market directions. The Price index increased in light of the return of the speculative activity to control trading streams that focused on small-cap stocks. The Weighted and KSX-15 indices could not realize gains for the week as a result of a decline in the performance of some leading and operational stocks, especially Banking sector, where it witnessed profit collection operations after the good realized gains during the latest weeks.

Moreover, the return of purchasing activity was noticed last week on some investment groups in the market, to increase its market value as end of year is approaching, which positively impacted the Price index in particular. On the contrary, the market performance was very volatile last week. The trading session was starting at limit down, caused by the sale operations to many large-cap and small-cap stocks, however starts to catch up in the second half of the session supported by the positive speculative deals and purchasing power that focused on small-cap stocks in particular.

For the annual performance, the price index ended last week recording 2% annual gain compared to its closing in 2011, while the weighted index increased by 2.85%, and the KSX-15 recorded 1.14% increase compared to its value at inception. By the end of the week, the price index closed at 5,930.28 points, up by 0.87% from the week before closing, whereas the weighted index registered a 0.29% weekly loss after closing at 417.17 points. Moreover, the KSX-15 index closed at 1,011.36 points, decreasing with 0.95%.

Seven of KSE's sectors ended last week in the red zone, while the other five recorded increases. The Health Care sector headed the losers list as its index declined by 1.81% to end the week's activity at 913.29 points. The Insurance sector was second on the losers' list, which index declined by 1.55%, closing at 883.44 points, followed by the Technology sector, as its index closed at 853.35 points at a loss of 1.33%. The Banks sector was the least declining as its index closed at 985.04 points with a 0.22% decrease. On the other hand, last week's highest gainer was the Financial Services sector, achieving 2.08% growth rate as its index closed at 843.22 points. Whereas, in the second place, the Oil & Gas sector's index closed at 924.49 points recording 1.89% increase. While the Industrials Sector was the least, when its index closed at 921.88, up by 0.27%.

Sectors' Activity
The Financial Services sector dominated total trade volume during last week with 1.01 billion shares changing hands, representing 55.29% of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector's traded shares were 26.30% of last week's total trading volume, with a total of 481.43 million shares. On the other hand, the Financial Services sector's stocks were the highest traded in terms of value; with a turnover of KD 57.38 million or 36.50% of last week's total market trading value. The Banks sector took the second place as the sector's last week turnover of KD 38.90 million represented 24.74% of the total market trading value.

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