(MENAFN - Arab Times) Kuwait Stock Exchange (KSE) ended last week in the red zone.
The price index ended last week with a decrease amounted to 3.14%, while the weighted index declined by 1.98% compared to the closings of the week before, where KSX-15 Index decreased by 1.70%. Furthermore, last week's average daily turnover decreased by 2.24%, compared to the preceding week, reaching KD 18.03 million, whereas trading volume average was 243.29 million shares, recording increase of 3.66%.
After a fragile firmness, selling pressures on small stocks continued, leading the price index to break through a new support level after crossing the 6,000 points level. On the other hand, both of weighted index and KSX-15 index suffered relatively lighter losses as a result of some buying deals on the leading stocks.
As far as the annual indices performance, two of the market main indices recorded losses. While the price index recorded gain of 1.61%, in spite of its losses during the last weeks; the weighted index recorded loss amounted to 2.92% and KSX-15 index retreated by 1.70%.
By the end of the week, the price index closed at 5,907.73 points, down by 3.14% from the week before closing, whereas the weighted index registered a 1.98% weekly loss after closing at 393.78 points. Moreover, the KSX-15 index recorded 1.70% weekly loss after closing at 950.93 points.
Sectors' Indices
All of KSE's sectors ended last week in the red zone except for health Care Sector without change. The Insurance sector headed the losers list as its index declined by 8.78% to end the week's activity at 951.86 points. The financial Services sector was second on the losers' list, which index declined by 5.68%, closing at 853.18 points, followed by the Basic Materials sector, as its index closed at 927.57 points at a loss of 2.70%. The technology sector was the least declining as its index closed at 1,148.28 points with a 0.96% decrease.
Sectors' Activity
The Financial Services sector dominated total trade volume during last week with 643.55 million shares changing hands, representing 52.90% of the total market trading volume. The Real Estate sector was second in terms trading volume as the sector's traded shares were 25.04% of last week's total trading volume, with a total of 304.64 million shares.
On the other hand, the Financial Services sector's stocks where the highest traded in terms of value; with a turnover of KD 30.77 million or 34.12% of last week's total market trading value. The Real Estate sector took the second place as the sector's last week turnover of KD 19.10 million represented 21.18% of the total market trading value.
Market Capitalization
KSE total market capitalization declined by 1.95% during last week to reach KD 26.76 billion, as all of KSE's sectors recorded a decrease in their respective market capitalization except for Health Care sector closed without change. The Basic Materials sector headed the decliners list as its total market capitalization reached KD 601.58 million, decreasing by 5.64%.
The Financial Services sector was the second in terms of recorded decline with 4.35% decrease after the total value of its listed companies reached KD 2.84 billion. The third place was for the Consumer Services sector, which total market capitalization reached KD 729.02 million by the end of the week, recording a decline of 4.13%. The Consumer Goods sector was the least declining with 0.13% recorded decrease after its market capitalization amounted to KD 585.17 million.
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