Kuwait stock exchange ends week trading in green zone

The Kuwait Stock Exchange (KSE) ended last week in the green zone driven by strong speculative purchasing operations, a specialized economic report showed Saturday. The report by Bayan Investment Company pointed out that the price index closed at 7,954.46 points, up by 2.42 percent from the week before closing, the weighted index increased by 0.86 percent after closing at 467.51 points, whereas the KSX-15 index closed at 1,100.60 points up by 0.11 percent. The data also showed that last week's average daily turnover increased by 59.77 percent, compared to the preceding week, reaching KD 44.26 million, whereas trading volume average was 534.55 million shares, recording increase of 74.01 percent. As far as the stock market trading activity, the report stated that the price index initiated the first trading session with an increase, affected by the strong speculative purchasing operations after the USA economic crises relief news and the improvement of most the international stock markets. Though the price index maintained a level close to 8,000 point, the other two indices varied in performance, affected by the purchase and collect operations on a number of promising stocks, to end the first session of the week in the green zone, the report added. On the other hand, the stock market indicators fluctuated in performance last week, whereas the price index declined in the second trading session, and continued its decline for two consecutive sessions, as a result to the sale-for-profit operations on the previously increased stocks, while the other two indices continued to improve due to the purchasing operations on the large-cap stocks. "Thereafter the price index was able to hold back and return to its escalating direction, as the under priced and speculative stocks were able to lead the indicator and push it to increase once again, despite the selling pressures of the leading stocks, which resulted in a drop to the weighted and Kuwait 15 indices. In the last trading session, Kuwait Stock Market ended the week trades in the green zone," reads the report. For the annual performance, the price index ended last week recording 34.04 percent annual gain compared to its closing in 2012, while the weighted index increased by 11.94 percent, and the KSX-15 recorded 9.07 percent increase. With regard the performance of the listed sectors, the report unveiled that ten of KSE's sectors ended last week in the green zone except for two sectors. "The Health Care sector was the highest loser as its index declined by 0.43 percent to end the week's activity at 1,023.79 points. The second loser was Consumer services sector as its index dropped by 0.22 percent to end the week's activity at 1,199.09. "The Last week's highest gainer was the Financial Services sector, achieving 4.07 percent growth rate as its index closed at 1,177.95 points, whereas in the second place, the Real Estate sector's index closed at 1,458.86 points recording 3.49 percent increase. The Telecommunications sector came in third place as its index achieved 1.93 percent growth, ending the week at 873. 67 points. The Technology sector was the least growing as its index closed at 1,072.47 points with a 0.28 percent increase." It added that the Financial Services sector dominated total trade volume during last week with 1.24 billion shares changing hands, representing 46.26 percent of the total market trading volume. The Real Estate sector was second in terms of trading volume as the sector's traded shares were 26.82 percent of last week's total trading volume, with a total of 716.87 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 81.26 million or 36.72 percent of last week's total market trading value. The Banks sector took the second place as the sector's last week turnover was KD 49.99 million representing 22. 59 percent of the total market trading value."