KSE's capital value down to KD 23.4 bln late Jan. — report

KUWAIT, Jan 31 (KUNA) — The capital value of the Kuwait Stock Exchange (KSE) hit KD 23.4 billion (USD 77.07 billion), down 7.29 percent, at the end of January, compared with KD 25.2 billion (USD 83.1 billion) in December, showed an economic report.
The KSE pursued its negative performance for the second consecutive month, as the market indexes reported the worst annual starting in four years, said the report released by the Bayan Investment Company on Sunday.
The KSE’s negative performance came in light of the effects of dwindling oil prices and random selling waves involving many listed shares, it added.
The market was negatively affected by a state of anticipation and watching in January, as several dealers waited for the disclosure of listed companies’ financial findings for the fiscal year 2015, the report indicated.
The Price Index ended January at a level of 5,114 points, down 8.9 percent, compared with its level in December, while the Weighted Index lost 7.4 percent to close at 353,4 points, the Bayan’s report showed.
The KSX 15 Index finished this month’s trading at a level of 929,8 points, a dip of 7.84 percent, it said, noting that the daily average of the value for the same month went up by 28.34 percent to KD 14.1 million. (end) ht.abd.mt