Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait Measure Sheds 23.29 Pts Volume Rises  Join our daily free Newsletter

MENAFN - Arab Times - 04/02/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN - Arab Times) Kuwait stocks swung lower Monday, partly reversing the gains in the previous session. The index dropped 23.29 pts in choppy trade to settle at 7,786.72 points weighed by speculative selling in some of the mid and low caps. Most of the frontline stocks closed mixed. The KSX 15 benchmark climbed 5.78 pts to 1,080.59 pts and is up 28 pts from start of the year whereas weighted index edged 0.22 pts higher to 461.12 pts. The volume turnover meanwhile ticked higher after receding in the last 3 sessions. 327.94 million shares changed hands - a 7.35 pct increase from Sunday. It had soared above the 700 million mark on Jan 16 to hit a multi-month high

The sectors closed mostly in the red. Industrials outperformed the rest with 0.32 percent upswing whereas real estate shed 0.89 pct, the biggest loser of the day. In terms of volume, industrials garnered the highest market share of 29.52 pct while financial services and real estate came in next with 27.08 percent and 27.01 pct respectively. Among the losers, Advanced Technology dropped 20 fils to KD 0.910 and Hilal Cement followed suit to wind up at KD 0.230. Kuwait Portland Cement slid 40 fils and Salhia Real Estate Co gave up 20 fils to close at KD 0.370

The Energy House slipped 4 fils and Al Salam Group Holding Co fell 6 fils to KD 0.116. IFA Hotels and Resorts eased 5 fils to close at KD 0.275 and Gulf Petroleum Investment Co too was down by same measure. Market heavyweight Zain bucked the trend to gain 10 fils whereas Wataniya Telecom held steady at KD 1.840 off early lows. Zain has earned KD 216.44 million and chalked an earnings per share of 56 fils in 2013 and the Board of Directors has recommended a cash dividend of 50%. Agility climbed 20 fils to close at KD 0.680 and the stock is trading 10 fils down year-to-date.


The market opened weak and slipped into red in early trade. The index moved sideways briefly before resuming the downswing as sentiment turned negative. It hit the day's lowest level of 7,776.05 pts almost half way into the session and edged up before closing slipping again in the final minutes.

Top gainer of the day, KAMCO rallied 7.81 pct to close at KD 0.138 and National Company For Consumer Industries climbed 6.94 pct to stand next. Pearl For Real Estate Co dived 8.2 percent, the steepest decliner of the day and Mayadeen topped the volume with over 55 million shares.

Reflecting the day's decline, the losers outled the winners. 40 stocks advanced whereas 55 closed lower. Of the 143 counters active on Monday, 48 closed flat. 6,114 deals worth KD 33.50 million were transacted - a 7.62 pct fall in value from the day before

On the flip side, Jazeera Airways gained 10 fils recouping the drop in the day before and Gulf Cable followed suit. Boubyan Petrochemical Co rose 10 fils to KD 0.690 whereas Mabanee Co jumped 20 fils to KD 1.180. Metal and Recycling Co ticked 2 fils higher

Kuwait Food Co (Americana) was flat at KD 2.500 and KGL Logistics Co followed suit. The company has won the approval of Capital Markets Authority to its request to buy back or sell up to 10% of own shares over a period of 6 months commencing date of approval

ACICO Industries Co was unchanged at KD 0.75 and Kuwait Cement Co followed suit. The company has completed the 2nd phase of subscription in increasing its capital by 7%, which was fully covered. The company's capital after the increase stands at KD 73.330 million.

National Industries Group, the flagship company of Kharafi Group frittered away slight early gains to end flat at KD 0.228 and Kuwait Gulf Links too did not budge from its earlier close of KD 0.104. ALAFCO paused at KD 0.260.


In the banking sector, National Bank of Kuwait was unchanged at KD 0.940 after clocking a volume of over 4 million whereas Gulf Bank added 5 fils. Al-Ahli Bank of Kuwait eased 5 fils. The bank has recorded a net profit of KD 35.42 million and earnings per share of 22 fils in the year ending Dec 31, 2013 as compared to KD 30.027 million profit and earnings per share of 19 fils in 2012. The Board of Directors has recommended a cash dividend of 13%

Ahli United Bank dropped 10 fils to KD 0.740 whereas Kuwait International Bank closed 5 fils higher. Burgan Bank gained 10 fils whereas Commercial Bank of Kuwait was not traded during the session.

Kuwait Finance House paused at KD 0.800 with a volume of 4.3 million whereas Boubyan Bank shed 10 fils. The bank has registered a net profit of KD 13.408 million and earnings per share of 7.29 fils in the year ending Dec 31, 2013 and the Board of Directors has recommended 7 pct bonus shares as dividend

Kuwait Investment Co slipped 4 fils to KD 0.170 and International Financial Advisors clipped 3 fils. National Investment Co stagnated at KD 0.154 of early lows and KIPCO was down 10 fils at KD 0.650

Kuwait Financial Centre took in 2 fils and KMEFIC added 3 fils. Al Mal Investment Co inched 1 fil up whereas Bayan Investment closed flat. KAMCO gained 10 fils whereas Osoul Investment Co flunked 1 fil

The bourse has been mixed so far during the week and has added 31 pts in the last two sessions. The price index had rallied 205 points during whole of January after dropping 185 points in December. KSE, with 213 listed companies, is the second largest bourse in the region

In the bourse related news, Mashaer Holding has posted a net profit of KD 3.64 million and earnings per share of 20 fils during 2013 as against KD 4.31 million profit and earnings per share of 25 fils in the year before. The Board of Directors has recommended cash dividend of 15%

City Group has logged a net profit of KD 5.46 million and chalked an earnings per share of 48 fils in the year ending Dec 31, 2013, up from KD 3.57 million profit and earnings per share of 32 fils in the year before. The Board of Directors have recommended cash dividend of 35%

Refrigeration Ind and Storage Co, has announced a net profit of KD 2.72 million and earnings per share of 30.80 fils in 2013 as against KD 2.41 million profit and earnings per share of 27.30 fils the year before. The Board of Directors has recommended a cash dividend of 10%

Kuwait Building Materials Mfg has recorded a net profit of KD 581,231 and earnings per share of 19.17 fils in the year ending Dec 31, 2013, up from KD 411,453 profit and earnings per share of 13.57 fils in 2012. The Board of Directors has recommended 10 percent cash dividend.


Arab Times

  MENA News Headlines
 Oct 23 2016 - Art for sight’s sakeMoorfields launches unique Sense of Sight competition challenging UAE artists to celebrate the gift sight, in 3D80% of vision related problems are manageable through early detectionMENAFN Press
(MENAFN Press) To mark World Sight Day 2016 in October, Moorfields Eye Hospital Dubai and Moorfields Eye Hospital Centre Abu Dhabi have launched a competition in the UAE inviting the professional ...

 Oct 23 2016 - FERG records spike in foreign currency transactions powered by tourism activityMENAFN Press
(MENAFN Press) The Foreign Exchange and Remittance Group (FERG), comprising businesses engaged in money exchange and remittances, has recorded a 10-15% increase in foreign currency exchange ...

 Oct 23 2016 - SIAL 2016 to build on AED3.7 billion deals done last year as ME imports increaseMENAFN Press
(MENAFN Press) Held under the patronage of HH Sheikh Mansour Bin Zayed Al Nahyan Deputy Prime Minister of the UAE, Minister of Presidential Affairs and Chairman of Abu Dhabi Food Control Authority, ...

 Oct 23 2016 - Abeer Medical Group expands its operations to the UAE market The group eyes additional investments across the GCC regionMENAFN Press
(MENAFN Press) Abeer Medical Group, an international healthcare provider known for establishing prominent hospitals and medical centers in the GCC region, announced today its plans to expand its ...

 Oct 23 2016 - Dubai FDI launches skills development programme to drive investment and support servicesMENAFN Press
(MENAFN Press) The Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED), in partnership with the Conway Advisory and Global FDI Association, has ...

 Oct 23 2016 - Emirati lady gives birth to quadruplets at Danat Al Emarat Hospital in Abu DhabiMENAFN Press
(MENAFN Press) An Emirati lady recently gave birth to quadruplets—three boys and a girl—at Danat Al Emarat Hospital for Women & Children in Abu Dhabi. The babies were delivered in the 31st week of ...

 Oct 23 2016 - Sharjah National Hotels expects strong fourth-quarter nearly doubling the performance of last yearMENAFN Press
(MENAFN Press) Sharjah National Hotels, which comprises a group of hotels and resorts situated in various picturesque locations in the emirate, has seen positive growth at the end of its third ...

 Oct 23 2016 - Smiles n’ Stuff Friday Promotion puts the spotlight on the creativity of Al Noor Training Centre students by showcasing their handcrafted productsMENAFN Press
(MENAFN Press) Creativity is a gateway towards self-expression and paves the way for satisfying one’s soul. At Al Noor Training Centre, creativity plays a major part in shaping its community of ...

 Oct 23 2016 - Nikki Beach Resort & Spa Dubai Hosts Kids Taster MenuMENAFN Press
(MENAFN Press) In honor of Cancer Awareness Month, the soon-to-open Nikki Beach Resort & Spa Dubai hosted a group of ladies and children from ‘Pink Ladies Dubai’ for a sneak peek tasting session of ...

 Oct 23 2016 - Arab League's General Secretary Receives Abu-GhazalehMENAFN Press
(MENAFN Press) Ahmed Abu El Gait, General Secretary of the League of Arab States, received HE Dr. Talal Abu-Ghazaleh, chairman of Talal Abu-Ghazaleh Organization (TAG-Org) at his office at the ...





Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help