KSE loses KD 500 mln of market cap in May

KUWAIT, June 1 (KUNA) — The Kuwait Stock Exchange (KSE) lost about KD 500 million of market capitalization in May, a report said on Thursday.
By the end of May, market capitalization reached around KD 23.33 billion, decreasing by 2.19 percent compared to its level in March, where it was around KD 23.84 billion, according to the latest report by Bayan Investment Company said on Thursday.
The KSE indices closed mixed by the end of May, whereas the Price Index was able to record gains for the fourth consecutive month, however relatively small, as it reached 0.16 percent.
On the contrary, the Weighted and KSX-15 indices recorded noticeable losses during the month, where its monthly losses reached 2.42 percent and 4.30 percent respectively, as a result of the selling pressures and the profit-taking.
May was witnessed the end of the legal period given for the companies to disclose its first quarter financial results.
By the end of the month, the number of companies that disclosed its results reached 172 out of 186 companies listed in the regular market, 92.47 percent realizing a total profit of KD 491.23 million, down by 4.80 percent compared to the same companies’ results for the same period of last year, around KD 516.02 million. (end) mka.aas.msa