KSE opens new week of trades with indexes on mixed boards

KUWAIT, March 13 (KUNA) — Benchmark of Kuwait Stock Exchange rose 1.38 points reaching level of 5,286 in early trades in Sunday’s session, the new week first session of the Kuwait bourse.
Weighted index fell by 1.15 and Kuwait-15 by 4.68. Meanwhile, value of traded shares reached some KD 1.99 million, share turnover stood at approximately 27.4 million, done in 434 transactions. (USD=KD 0.300).
Weekend reports shed some light on latest status of the local stock market. Wasata company said purchase of operational and popular stocks boosted performance in most of the past week’s session. Trades focused on operational shares, namely those where investors’ eyes have been pinned upon for forecast financial disclosures, distribution of dividends and free stocks to shareholders. Inactive and small chips continued to lure trades by individuals, portfolios and funds thus contributing to enhancement of liquidity levels.
The market closed last Thursday’s session bullishly, with the benchmark settling at 5,284 points, rising by six points. The weighted and Kuwait-15 indices also increased, respectively 0.98 and 3.41. The market remained largely gripped with lackluster and jittery atmosphere due to lack of technical incentives. Nonetheless, some investors made limited gains in some sessions. (USD=KD 0.300).
For its part, Bayan Investment Co. said number of the listed companies that disclosed 2015 financial results reached around 98 company, representing 52.13% of the 188 listed companies in the official market. These companies realized around KD 1.35 billion in profit, or 4.95 percent compared to the same companies results for 2014.
On the other hand, the market capitalization reached by the end of last week KD 24.36 billion, increasing by 1.59% compared to its level in a week earlier, where it was KD 23.98 billion. On an annual level, the market cap for the listed companies in KSE declined by 3.58% from its value at end of 2015, where it was K.D. 25.27 billion. (end) mke.rk