Kuwait stocks were little changed on Sunday following last week’s modest gains.
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The All Shares Index ticked 1.69 points higher in a slightly volatile session to 5,110.90 points even as the overall mood remained cautious in absence of fresh catalysts.
The Prime Market inched 0.06 pts down to 5,317.76 points whereas Main Market added 4.87 points to close at 4,734.87 pts.
The volume turnover meanwhile fell for the second straight session. Over 77 million shares changed hands – down 15.4 pct from the day before.
The sectors closed mixed. Consumer goods outshone the rest with 0.34 percent gain whereas basic materials shed 1.32 pct, the worst performer of the day.
Volume wise, banks mustered the highest market share of 31.8 percent and financial services followed with 30 pct contribution. In the individual shares, KIPCO rose 3 fils to 206 fils and Commercial Bank climbed 10 fils to 500 fils. National Bank of Kuwait stood pat at 830 fils and Kuwait Finance House too did not budge from its earlier close of 598 fils after trading 3.9 million shares.
Zain dialed up 2 fils whereas Ooredoo shed 13 fils to wind up at 710 fils. Kuwait Telecommunication Co (VIVA) was down 9 fils at 791 fils and Agility gave up 5 fils before settling at 807 fils.
The market opened firm and slipped into red in early trade. The main index plumbed the day’s lowest level of 5,105 pts and flipped direction to peak at 5,118 pts . It drifted lower thereafter in flattish trade to close barely in the green turf. Top gainer of the day, Tahssilat rallied 7.7 percent to 22.3 fils and Gulf Cement climbed 7.54 pct to stand next.
Tijara slid 8 percent, the steepest decliner of the day and Ahli United Bank topped the volume with 7.8 million shares. Mirroring the day’s flat closing, the market spread was almost even. 47 stocks advanced whereas 48 closed lower. Of the 110 counters active on Sunday, 15 closed flat. 3285 deals worth KD 11.23 million were transacted – down 48.4 pct in value from the day before.
National Industries Group tripped 1 fil to close at 161 fils while Al Mezzan Holding dialed up 2 fils. Boubyan Petrochemical Co skidded 18 fils to KD 1.010 and Al Qurain Petrochemical Co gave up 4 fils to wind up at 357 fils. Jazeera Airways was unchanged at 748 fils whereas ALAFCO and NICBM were up 4 fils each to close at 359 fils and 170 fils respectively. Heavy Engineering Industries and Shipbuilding Co slipped 5 fils to 419 fils and Gulf Cable clipped 1 fil.
Kuwait National Cinema Co jumped 23 fils to 998 fils whereas Educational Holding and Aan Digital Service Co stood pat at 310 fils and 18.6 fils respectively. Equipment Holding ticked I fil higher to 26.9 fils and Yiaco clipped 2 fils. Humansoft Holding soared 60 fils to KD 3.400 and Mashaer Holding dialed up 2 fils. Kuwait Gulf Links Transport Co was fl at at 94 fils and KGL Logistics ticked 0.1 fil into green. Al Rai Media added 0.4 fil and Inovest gave up 2 fils.
In the banking sector, Gulf Bank and Warba Bank tripped 1 fil each to close at 268 fils and 215 fils respectively whereas Kuwait International Bank ticked 1 fil in green. Boubyan Bank was up 3 fils at 544 fils. Almutahed fell 3 fils to 297 fils and Ahli United Bank paused at 209 fils. Burgan Bank clipped 2 fils after trading over 2 million shares whereas Al Ahli Bank was not traded during the session. National Investment Co and Kuwait Investment Co were fl at at 84.5 fils and 131 fils respectively.
Facil gained 6 fils with thin trading whereas Al Mal Investment and Aayan took in 0.1 fil each to end at 23 fils and 36.8 fils respectively. Kuwait Financial Centre (Markaz) rose 3 fils to 104 fils and Bayan Investment took in 0.5 fil. The company incurred a loss of KD 155,090 during the third quarter as against KD 445,270 profit in the same quarter last year. In the January-September period, the losses totaled KD 445,770.
International Financial Advisors fell 1.7 fils after trading 4.9 million shares whereas Coast Investment Co trimmed 0.2 fil. Securities House Co added 1.3 fils and Arzan gave up 1,7 fils before ending at 29.1 fils. Al Noor Financial Investment Co fell 1.5 fils to 59 fils and Al Imtiaz dialed down 2 fils. KFIC tripped 0.9 fil and Unicap dialed up 1.9 fils to close at 64.9 fils.
Ekttitab Holding took in 0.9 fil and Al Madina clipped 0.2 fil. Kuwait Insurance Co ticked 1 fil whereas Gulf Insurance Co was fl at at 625 fils. Warba Insurance Co tripped 1 fil. Deera Holding edged 0.7 fil down to 19.3 fils. Mabanee Co fell 2 fils to 638 fils and Kuwait Real Estate Co dialed up 1.3 fils. National Real Estate clipped 0.9 fil and Remal trimmed 0.3 fil to wind up at 45.1 fils.
The bourse was mixed during last week. The main index closed higher in three of the five sessions gaining 26 pts week-on week after rallying 66 points during whole of November.
Boursa Kuwait, with 176 listed stocks, is the second largest market in the region.
By John Mathews
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