Kuwait bourse up 21 pts in volatile trade 

(MENAFN - Arab Times) Kuwait stocks pulled higher Wednesday extending the gains to 13th consecutive day. The index rose 21 points in volatile trade to 6735.78 pts - the highest level in over two years. The trading was centered mostly on mid and low caps whereas the frontline stocks closed mixed. Some of the insurance shares shined during the session. The KSX 15 benchmark retreated 7.05 pts to 1027.82 pts and has shed almost 10 points from start of the month while the weighted index eased 1.08 pts.

The volume turnover meanwhile ticked higher to a fresh multi-month high above the 1000 million mark. 1023.74 million shares changed hands - up 2.20 percent from Tuesday.

Majority of sectors closed in the positive zone. Insurance out led the rest with 1.44 percent gain whereas telecommunication fell 0.97 percent, the biggest loser of the day. In terms of volume, financial services dominated with 43.62 percent market share and real estate stood next with 33.32 percent.United Projects Co spiked 50 fils extending the gains from the earlier session while Metal and Recycling Co added 4 fils to end at KD 0.136. Contracting and Marine Services Co climbed 10 fils and Kuwait Foundry Co followed suit. Burgan Well Drilling Co was up 6 fils at KD 0.186. Wataniya Telecom gave up early gains to close unchanged at KD 2.360 while Zain dropped 20 fils to KD 0.780. Zain has earned KD 252.14 mln and clocked earnings per share of 65 fils in 2012. The Board of Directors has recommended a cash dividend of 50 percent. Agility rallied 20 fils on back of 3.22 million shares to settle at KD 0.570. The stock has added 10 fils so far during the month while year-to-date, it has rallied 60 fils.