Kuwait News

Kuwait’s market closes in green turf

Mabanee Co gains 8 fils, Agility slips

KUWAIT CITY, June 28: Kuwait stocks eked marginal gains on Sunday after previous week’s upswing. The All Shares Index, after a wobbly start, edged 2.7 points higher to 5170.45 pts helped by some of the mid-caps even as the blue chips closed narrowly mixed.

The Premier Market was little changed at 5656.43 points after rallying 132 points from the start of the month while Main Market rose 8.7 points to 5656.43 pts. The BK 50 Main was up 8.8 points to 4189 pts. The volume turnover meanwhile dipped below the 200 million mark.

Over 155 million shares changed hands – down 28 pct from the day before. The sectors closed mixed. Consumers Goods outpaced the rest with 1.01 pct gain whereas Oil and Gas shed 0.77 percent, the worst performer of the day. Banking sector continued to dominate in both volume and value with 35.8 million shares worth KD 10.8 million.

In the individual shares, sector bellwether National Bank of Kuwait was unchanged at 827 fils after trading 1.9 million shares while Kuwait Finance House clipped 1 fil with a volume of 5.6 million. Mabanee Co sprinted 8 fils to 685 fils as it rebounded from last session’s trough and Integrated Holding Co rallied 13 fils.

Zain fell 2 fils to 562 fils after trading 2.6 million shares while Ooredoo dialed up 2 fils to close at 663 fils. STC inched 1 fil higher to 851 fils and Agility gave up 2 fils before ending at 740 fils with a volume of over 3 million shares. Humansoft Holding climbed 5 fils to KD 2.785 and KIPCO ticked 1 fil into green after moving over 1 million shares.

The market opened with a gap down and slipped further into red in early trade. The main index plumbed the day’s lowest level of 5142 points and headed north amid buying in select counters. It drifted sideways in the second half before clawing back into the green zone at close. Top gainer of the day, Taamer rallied 15.2 pct to 20.4 fils Energy Holding sprinted 11.9 pct to stand next. Warba Insurance shed 9.3 percent, the steepest decliner of the day and Abyaar topped the volume with 18.2 million shares. Refl ecting the day’s uptick, the gainers outnumbered the losers. 53 stocks advanced whereas 36 closed lower. Of the 120 counters active on Sunday, 31 closed fl at. 6570 deals worth KD 21.15 million were transacted during the session. National Industries Group eased 1 fil to 167 fils while Mezzan Holding climbed 8 fils to 600 fils.

Boubyan Petrochemical Co stood pat at 604 fils and Al Qurain Petrochemical Co too did not budge from its earlier close of 279 fils. OSOS sprinted 7.2 fils to 97.7 fils and Combined Group Contracting Co gained 6 fils on back of 3.6 million shares.

Jazeera Airways slid 11 fils to 677 fils and ALAFCO clipped 2 fils after moving 1.4 million shares. Kuwait and Gulf Links Transport Co took in 1.7 fils and KGL Logistics tripped 0.3 fil. Warbcap added 2.4 fils and Energy Holding closed 2.3 fils higher on back of 7.4 million shares. Educational Holding Group rose 5 fils. Kuwait Cement Co fell 2 fils to 190 fils and Kuwait Portland Cement gained 7 fils. Gulf Cable rose 3 fils to 550 fils and Hilal Cement followed suit. Kuwait Foundry Co dialed down 2 fils and ACICO Industries took in 1 fil.

Metal and Recycling Co gave up 2.3 fils and Independent Petroleum Group skidded 20 fils. In the banking sector Gulf Bank trimmed 1 fil after trading 4.7 fils while Kuwait International Bank and Burgan Bank paused at 177 fils and 198 fils respectively. Ahli United Bank too was unchanged at 178 fils with brisk trading. The market was largely buoyant during the past week. The main index closed higher in four of the five sessions gaining 147 points week-on-week. It has rallied 173 points from start of the month and is down 1112 points year-todate.

By John Mathews Arab Times Staff




Source: Alanbaa

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