BUSINESS
24
Sunday, November 14, 2010
KSE equities drop amid bearish trend KUWAIT: Kuwait Stock Exchange (KSE) ended the week in the red zone, as both market indices recorded losses. The market price index ended last week with a decrease amounted to 2.45%, the weighted index retreated with 2.04%, compared to the closings of the week before. Furthermore, last week’s average daily turnover dropped by 18.11%, compared to the preceding week, reaching KD 51.71 million, whereas trading volume average was 249 million shares, recording decrease of 47.15%. Moreover, a selling trend dominated the market during last week, including most of market sectors. Many of KSE traders acted with caution due to several factors. As the determination of development plan financing mechanism was delayed till after Eid. In addition, the new about Mobile Telecommunications Company “Zain” deal played important role, whereas many contradiction news about the deal appeared during last week.
BAYAN INVESTMENT WEEKLY REPORT On the other hand, more listed companies announced its 9 months results, as 152 disclosed its results until mid of last Thursday, representing 72% of the total number of listed companies. The results were positive for most of the market sectors, whereas all of them recorded increase for their respective companies except for Real Estate sector and Non Kuwaiti sector. The sum of listed company profits was 1.67 billion KD comparing with 732.72 million KD with increase amounted to 127.97%. By the end of the week, the price index closed at 6,950.0 points, down by 2.45% from the week before closing, whereas the weighted index registered a 2.04% weekly loss after closing at 471.34 points.
Sectors’ Indices All of KSE’s sectors ended last week in the red zone except for one sector. The Industry sector headed the losers list as its index declined by 5.19% to end the week’s activity at 5,442.0 points. The Insurance sector was second on the losers’ list, which index declined by 5.02%, closing at 2,607.9 points, followed by the Investment sector, as its index closed at 5,017.8 points at a loss of 4%. The Real Estate sector was the least declining as its index closed at 2,409.8 points with a 0.80% decrease. On the other hand, the Banks sector was last week only gainer, which index grew by 1.20%, closing at 11,711.8 points.
Sectors’ Activity The Investment sector dominated total trade volume during last week with 425.56 million shares changing hands, representing 34.18% of the total market trading volume. The Services sector was second in terms trading volume as the sector’s traded shares were 31.15% of last week’s total trading volume, with a total of 387.85 million shares. On the other hand, the Services sector’s stocks where the highest traded in terms of value; with a turnover of KD 99.60 million or 38.75% of last week’s total market trading value. The Banks sector took the second place as the sector’s last week turnover of KD 58.17 million represented 22.63% of the total market trading value.
Market Capitalization KSE total market capitalization declined by 2.15% during last week to reach KD 33.93 billion, as all of KSE’s sectors recorded a decrease in their respective market capitalization. The Insurance sector was the most declining as its total market capitalization reached KD 312.88 million, decreasing by 6.28%. The Industry sector was the second in terms of recorded decline with 5.89% decrease after the total value of its listed companies reached KD 2.87 billion. The third place was for the Investment sector, which total market capitalization reached KD 2.90 billion by the end of the week, recording a decline of 5.78%. The Banks sector was the least declining with 0.07% recorded decrease after its market capitalization amounted to KD 13.73 billion. For further details, please visit our web site: www.bayaninvest.com