(MENAFN- Arab Times) Kuwait stocks pulled higher on Monday, to start off the month on a positive note.
The index rose 14.9 pts in choppy trade led mostly by small caps even as the heavyweights closed mixed. The trading was cautiously positive as the bourse suspended 17 firms following the end of deadline for earnings disclosure. The KSX 15 index inched 0.28 pts higher to 1031.21 pts and is up over 22 pts from start of the year whereas the weighted index eased 0.03 points. The volume turnover meanwhile receded further to slip below the 500 million mark for the first time in a month. 495.82 million shares changed hands - down 14.7 percent from the day before.
The sectors swayed marginally in both directions. Technology outpaced the rest with 2.95 percent rally whereas oil and gas shed 1.98 percent, the worst performer of the day. Volume wise, financial services topped with 42.74 percent market share and real estate came in next with 36.66 percent. Banks was a distant third with 6.47 percent contribution.
Kuwait Portland Cement Co climbed 20 fils to KD 1.120 more than recouping the fall in the previous session while Kuwait Foundry Co rose 10 fils. Jazeera Airways rallied 25 fils on back of 2.53 million shares. The stock has jumped 45 fils during whole of March and is trading 140 fils higher year-to-date.
ALAFCO gained 10 fils with a volume of 1.99 million shares and United Projects Co too was up by same measure. Automated Systems Co climbed 25 fils to KD 0.480. The company has recorded a net profit of KD 4.047 million and earnings per share of 101.08 fils and the Board of Directors has recommended a cash dividend payout of 50 percent or 50 fils per share.Â
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