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KSE closes 7.63 points higher at 7,403.83 pts [Arab Times (Kuwait)]
[August 30, 2014]

KSE closes 7.63 points higher at 7,403.83 pts [Arab Times (Kuwait)]

(Arab Times (Kuwait) Via Acquire Media NewsEdge) Kuwait stocks closed at 7,403.83 points above the red line, with a 7.63 point rise from the previous session with a mixed board. The weighted index stood at 490.99 points, up by a slim 0.27 points.  The KSE benchmark dipped 4.31 points to 1,197.28 fils at the week's close. The trading floor experienced a low volume turnover with 201.6 million shares been traded for a value of KD 21.43 million in 4659 transactions. 140 counters remained active in the session with more winners than losers; 54 companies closed in the green, 34 closed in the red, and 52 marked no change. Housing Finance Co reversed losses of the week, making a 10.64 percent expansion to 26 fils while trading a volume of 17.82 million shares. Taiba Kuwaiti Holding Co also found itself in the list of top gainers of the day with a75 fils close, up by 7.14 percent. Aqar Real Estate Investments and Hayat Communications Co followed with a 6.25 percent rise to 85 fils each while Educational Holding Group noted a 6.01 percent leap to 176 fils.    Human Soft Holding Co, on the other hand, took a hard 22.73 percent tumble off its share price, finishing at 425 fils a piece and Gulf Franchising Holding Co slipped down to 64 fils with a 4.48 percent cut. United Projects for Aviation Services Co, at the same time, shed 4.05 percent to move to 710 fils in low activity. Al-Qurain Holding Co closed fell by 3.17 percent, finishing at 30.5 fils at the session's end while Contracting & Marine Services Co faced a 2.94 percent contraction to 132 fils.  Gulf Finance House traded the highest volume of the day of 20.66 million shares at a steady 42.5 fils while Al-Mal Investment Company traded a robust 17.82 million shares and Gulf Petroleum Investment witnessed 9.2 million of its shares change hands.    Telecommunications stood at 768.6 points, up by 0.41 percent with a 75.02 percent swell in volume traded compared to the previous session and a 490.90 percent in value. Mobile Telecommunications Company — Zain stood firm at 650 fils and traded 1.95 million shares while Ooredoo Kuwait trailed a 20 point rise to KD 1.5 and Hits Telecom Holding Company closed at a steady 53 fils.  Banks closed at 1,117.2 points, up by 0.48 percent from Wednesday. National Bank of Kuwait edged 10 points lower to 990 fils while Kuwait Finance House held ground at 810 fils and Kuwait International Bank took a 10 point upturn to 330 fils. Meanwhile, Burgan Bank drooped 10 points lower to 530 fils. Warba Bank scaled 5 points higher to 275 fils and Ithmaar Bank crawled 0.5 points higher to 48.5 fils. Boubyan Bank curved into the red with a 10 point drop to 500 fils while Gulf Bank closed flat at 340 fils and Commercial Bank of Kuwait heaved ahead with a 40 point rise to 720 fils.  Financial Services closed at 1,022.7 points, up by 0.26 percent, making up 56.58 percent of the total volume and 29.33 percent of the total value of the market.    Gulf Finance House stood firm at 42.5 fils while A'ayan Leasing & Investment Co inched 1 point higher to 83 fils and Coast Investment and Development Company closed 1 point lower at 68 fils. Housing Finance Co gained 2 points to close at 26 fils while International Financial Advisors and Al Salam Group Holding closed flat at 60 fils and 104 fils.  Privatization Holding Company stumbled 2 points lower to 70 fils and Securities House marked no change, closing at 83 fils. National Industries Group shifted 4 points upward to 228 fils and Kuwait Syrian Holding Co moved 1.5 points higher to 27 fils. Boubyan International Industries Holding Co traced a 2 point rise to 98 fils while Al Deera Holding Company budged 0.5 points lower to 28.5 fils and Kuwait Projects Company Holding (KIPCO) lost 10 points to finish the week at 720 fils. Gulf North Africa Holding Company swung 1 point higher to 53 fils and Manazel Holding slid 1 point down to 54 fils.    Real Estate sector made up 15.76 percent of the market volume and 14.65 percent of the total value, closing at 1,269.1 points, 0.34 percent higher. Al Mudon International Real Estate Company closed at 91 fils, trading 7.4 million shares with a 4 point augment. Mabanee Co closed 20 points higher at KD 1.080.

Sokouk Holding Co and Munshaat Real Estate Projects Company closed flat at 89 fils and 154 fils respectively while The Commercial Real Estate Co and Abyaar Real Estate Development Company pulled off a 1 point increment to 99 fils and 51 fils. Kuwait Real Estate Company and Al Mazaya Holding Company closed flat at 80 fils and 116 fils as did Kuwait Remal Real Estate Company and A'ayan Real Estate Co, at 83 fils and 100 fils respectively.

  National Real Estate Company concurrently, made a 2 point progress to 156 fils while Al-Massaleh Real Estate Co and Al Arabiya Real Estate Company trudged 1 point higher to 82 fils and 58 fils. The Oil and Gas sector stood at 1,272.8 points, 0.37 percent deeper into the red. Gulf Petroleum Investment stood firm at 108 fils while Al-Safat Energy Holding eased 1 point lower to 39 fils trading 5.03 million shares and Ikarus Petroleum Industries Co sagged 2 points below the red line to 196 fils. Contracting & Marine Services Co also pulled 4 points lower to 132 fils while the Energy House Holding Company was the only counter in the sector to advance, growing by 3 to 83 fils.    Industrials index stood at 1,163.6 points, 0.95 percent lower but with a 35.48 percent rise in volume from the previous day and a 70.95 percent rise in value. Mubarrad Transport Co crept 1 point higher to 85 fils while Salbookh Trading Company mounted 4 points to 106 fils. Agility Public Warehousing Company closed at 860 fils with a 10 point dive and Aviation Lease And Finance Co shot up by 5 points to 275 fils. Equipment Holding Company hiked up 2 points to 138 fils while Gulf Cement Company clambered down to 108 fils with a 2 point decline.  In technology, Al-Safat Tec Holding Company gained 1 point to close at 61 fils and Hayat Communications Co jumped 5 points higher to 85 fils.    The basic materials index stood at 1,246.4 points, budding by 1.18 percent. Boubyan Petrochemical Company pushed 10 points higher to close at 770 fils while Kuwait Foundry Co and Qurain Petrochemical Industries Company trekked 5 points higher to 330 fils and 255 fils respectively.  In consumer goods, Kuwait Food Company (Americana) remained stable at KD 3.2 while Livestock Transport & Trading Co slumped 2 points down to 196 fils. Even as Danah Al Safat Foodstuff Company closed flat at 87 fils, Kuwait United Poultry Co surged 8 points ahead to 198 fils.

  On the other hand, in consumer services, Jazeera Airways Co jumped 20 points ahead to 465 fils while Al Rai Media Group also took a 4 point upturn to 138 fils. At the same time, Sultan center food products Co stagnated at 104 fils while Kuwait Resorts Company and IFA Hotels & Resorts Co inched 2 points higher to 99 fils and 224 fils. In insurance, Warba Insurance Company closed at a flat 146 fils and Wethaq Takaful Insurance Company shuffled 1 point lower to 65 fils. In healthcare, Yiaco Medical Co cast off 2 points to close at 240 fils. In insurance, Warba Insurance Company closed at a flat 146 fils and Wethaq Takaful Insurance Company shuffled 1 point lower to 65 fils.

  By Cinatra Fernandes  (c) 2014 Arab Times Kuwait English Daily. All Rights Reserved. Provided by SyndiGate Media Inc. (

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