KSE weekly report by Bayan Investment

KUWAIT, May 7 (KUNA) — Kuwait Stock Exchange (KSE) ended last week in the red zone as the Price Index closed at 5,373.17 points, down by 0.35% from the week before closing, the Weighted Index decreased by 1% after closing at 362.61 points, whereas the KSX-15 Index closed at 853.35 points down by 1.16%.
Furthermore, last week’s average daily turnover decreased by 18.22%, compared to the preceding week, reaching K.D 10.55 million, whereas trading volume average was 124.71 million shares, recording a decrease of 22.33%, a report prepared by Bayan Investment said Saturday.
The stock market indicators ended last week’s activity, which were limited to four sessions, with different losses, under the control of the selling operations over the trading activity during most of the daily sessions of the week, it added.
It pointed out that the losses came in light of a fluctuated performance due to the active speculations and profit collection operations that were executed on many stocks, especially the large-cap ones, which caused the main indicators of the market to decline noticeably, especially the Weighted and KSX-15 indices.
In addition, the losses recorded by the market indicators during last week, were expected after the increases realized by the market during the previous weeks.
As per the daily trading activity for Kuwait Stock Exchange for the last week, the three market indicators closings were mixed in the first session of the week, accompanied by a noticeable decline in the trading activity, especially the value, which recorded a drop of more than 25%.
The Price Index however, was able to increase by the end of the session supported by the continued speculative operations and the random purchasing operations executed on the small-cap stocks, especially the stocks of the companies that are expected to realize good gains for the first quarter period, while the Weighted and KSX-15 indices decreased as a result to the selling pressures that concentrated on a number of the leading stocks, which were made for profit collection purposes.
On the second session, the market performance was similar to the previous session, with changing positions, as the Price Index closed in the red zone affected by the quick profit collection operations that targeted some small-cap stocks, however the Weighted and KSX-15 indices were able to increase and compensate a part of its previous losses due to the random purchasing operations that included some leading stocks, among a continued contraction in the liquidity for the second consecutive session.
On Tuesday’s session, the Price Index returned to the green zone again and was able to realize limited increase supported by the quick speculations that concentrated on the small-cap stocks, whilst the Weighted and KSX-15 indices declined affected by the profit collection operations, among a noticeable increase in the liquidity levels in the market, whereas it grew by 42.61% by the end of the session.(end).
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