(MENAFN- Arab Times) Kuwait stocks pulled lower on Monday after eking a modest rebound in the last session. The price index pared steeper early losses to close 22.93 pts down at 6,167.4 points weighed by some of the mid and small caps. The heavyweights were mostly muted even as investors await fresh cues.
The KSX 15 measure climbed 5.26 pts to 1,017.25 pts trimming the year's losses to 44 points while weighted index inched 0.93 points up. The volume turnover meanwhile swelled after ebbing in the previous session. 75.44 million shares changed hands - a 19.20 pct increase from Sunday.
The sectors closed mostly in the red zone. Parallel market out led the rest with 1.23 pct upswing whereas healthcare shed 1.82 percent, the steepest decliner of the day. In terms of volume, financial services accounted for the highest market share of 40.74 pct and real estate followed with over 30 percent. Industrials trailed way behind with 10.6 pct contribution.
Among the day's losers, Humansoft Holding Co shed 30 fils to close at KD 0.820 and Safwan Trading and Contracting Co was down 20 fils at KD 0.280. City Group Co gave up 5 fils to settle at KD 0.435 and PAPCO followed suit to end at 93 fils.
Nudged
Sector major Zain nudged 5 fils up to KD 0.420 paring the year's losses to 110 fils and Wataniya Telecom held the ground steady at KD 1.160 off early highs. Kuwait Telecommunications Co (VIVA) gave up early gains to close flat at KD 0.940 and Agility paused at KD 0.670 after vacillating in a tight range.
Mezzan Holding was unchanged at KD 1.040 whereas Kuwait Food Co (Americana) climbed 20 fils to KD 2.800. The company has posted a net profit OF KD 17.3 million in the first three months of 2015, down from KD 18.1 million in the same period last year.
The market opened flat and pulled lower in early trade. The price index continued to drift southward as sentiment weakened and plumbed the month's lowest level of 6,147.24 pts in the final minutes. It however managed to pare back some of the losses at close.
Top gainer of the day, Securities Group Co spiked over 9 pct to 120 fils while AFAQ climbed 5.75 points to stand next. KGL Logistics Co slid 6.85 pct, the steepest decliner of the day, and Al Dar National Real Estate Co topped the volume with 10.11 million shares.
Mirroring the day's downswing, the market spread was skewed towards the losers. 29 stocks advanced whereas 44 closed lower. Of the 123 counters active on Monday, 50 closed flat. 1946 deals worth KD 7.7 million were transacted, a 12.49 pct rise in value from the day before. National Industries Group took in 2 fils to close at KD 0.166 extending an identical rise in the last session whereas Gulf Cable and Kuwait Foundry Co held steady at KD 0.560 and KD 0.260 respectively. Boubyan Petrochemicals Co paused at KD 0.590.
Equipment Holding Co was unchanged at 70 fils and Educational Holding Group followed suit. The company has posted net profit of KD 4.62 million and earnings per share of 18.9 fils in nine months ended May 31, 2015 as compared to net profit of KD 3.26 million and earnings per share of 13.4 fils in the same period last year.
Gulf Petroleum Investment clipped 2 fils and The Energy House inched 1 fils up . The company has logged a net loss of KD 1.024 million and loss per share of 1.366 fils in the three months of the year ending March 31, as against a net profit of KD 234,309 earnings per share of 0.312 fils in the same period last year.
ALAFCO rallied 4 fils on back of 1.3 million shares and Jazeera Airways paused at KD 0.470. Kuwait and Gulf Logistics Transport Co stagnated at 52 fils and Mashaer Holding followed suit.
Flat
National Investment Co was flat at KD 0.128 and KIPCO too did not budge from its earlier close of KD 0.640. KMEFIC gave up 1 fils whereas Bayan Investment inched 1 fils up to 46 fils. Al Deera Holding Co rose 1.5 fils and Sokouk Holding closed flat. KFIC took in 1 fils and Sokouk Holding Co held steady at 54 fils. Noor Financial Investment dialed down 3 fils and Ekttitab Holding Co eased 0.5 fils.
In the banking sector, National Bank of Kuwait paused at KD 0.850 off early highs and Gulf Bank followed suit to close at KD 0.270. Al Ahli Bank closed flat whereas Commercial Bank was not traded during the session.
Burgan Bank and Ahli United bank stagnated at KD 0.420 and KD 0.570 respectively whereas Kuwait International Bank clipped 2 fils. Kuwait Finance House gained 10 fils on back of over 1 million shares and Boubuan Bank closed 5 fils higher.
The bourse was mixed so far during the week and has shed 14 points in last two sessions. The key gauge had slid 90 points during whole of June and is trading 5.64 pct lower year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region.
In the bourse related news, Combined Group Contracting Co. has been granted approval by Capital Markets Authority for its request to buy back or sell up to 10% of own shares over a period of 6 months . National Industries Company has won the permission of Capital Markets Authority to buy back or sell a maximum of 10% of its shares for a period of 6 months.
Aqar Real Estate Investments Co. has got the nod of Capital Markets Authority for its request to buy back or sell up to 10% of own shares over a period of 6 months.
Privatization Holding Co. has received the approval of Capital Markets Authority for its request to buy back or sell up to 10% of own shares over a period of 6 months.
Gulf Insurance Group (GIG) has registered a net profit of KD 3.7 million or 20.86 fils per share, for the financial period ended March 31, 2015 € an increase of 22.8 percent from the same period last year. Shareholder equity grew 3.7 pct to KD 82.5 million.
Tamdeen Investment Co has recorded 18.5 pct rise in its earnings of the first quarter of 2015. It stood at KD 7.25 million compared to KD 6.12 million in the Q1 of 2014 while earnings per share came in at 25.75 fils.
Kuwait Foundry Co has logged a net profit of KD 2.26 million and earnings per share of 14.74 fils in the first nine-months of 2014, as against KD 2.13 million profit and earnings per share 13.9 fils in the 9M of 2013.
Warba Bank has recorded a net profit of KD 115,000 and earnings per share of 0.12 fils in 2014, rebounding from net loss of KD 3.709 million and loss per share of 3.71 fils in 2013.
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