Kuwait – Mubasher: Kuwait’s bourse ended last week in the green zone, as the Price Index closed at 5,511.74 points, up by 0.57% from the week before closing, said a report compiled by Bayan investment.
The Weighted Index increased by 1.89% after closing at 369.98 points, whereas the KSX-15 Index closed at 871.57 points up by 1.96%. Furthermore, the week’s average daily turnover decreased by 19.74%, compared to the preceding week, reaching KWD 16.14 million, whereas trading volume average was 143.79 million shares, recording a decrease of 18.91%.
The three Bourse indices were able to realize gains for the second consecutive week supported by the active trading that included many listed stocks and concentrated on the leading ones, in addition to the speculative operations that concentrated on some small-cap stocks especially the ones being traded under its book and par values.
The Bourse witnessed such performance despite the decrease in the trading levels compared to the week earlier, as the total volume of the traded stocks during the last week reached 718.9 million stock, while the total value reached by the end of the week to around KWD. 81.7 million, noted the report.
As per the daily trading activity, the Bourse witnessed a fluctuated performance all along the beginning of week session, where it was able to increase in the first session supported by the active trading and the random purchasing operations executed on the leading stocks.
Meanwhile, the profit collection operations contributed to the decline in the indices’ performance putting it in the red zone, before it witnessed the last minutes of the session some random purchasing operations that contributed into adjusting the Bourse’s track and redirect its indices to the green zone, added the report.
The Bourse witnessed in the next couple of sessions a mixed closings for the three indices, where the Price Index dropped affected by the profit collection operations that included few small-cap stocks, especially the ones that did not disclose its third quarter financial results before the session, while the Weighted and KSX-15 indices ended the session in the green zone, supported by the continued purchasing operations on the leading and heavy stocks, said the report.
The three Bourse indices returned in the mid-week session to meet in the green closing area, supported by the active purchasing operations that concentrated on the Banks sector, in addition to the quick speculative operations executed on the small-cap stocks amid a growing trading activity especially in the value which witnessed an increase on 72% by the end of the session.
The market returned to fluctuate once again on Wednesday’s session, where the Price Index was able to realize gains in light of the quick speculative operations and the random purchasing operations executed on the small-cap stocks, especially on the ones that disclosed positive third quarter results for the year 2016, while the profit collection operations that included some leading stocks, pushed the Weighted and KSX-15 indices to end the session in the red zone, clarified the report.
