(MENAFN- Arab Times) Kuwait stocks headed north on Tuesday extending the gains to second straight session. The price index added 10.06 pts in a sluggish trading to 5,393.03 pts with a mixed board. The banks and other blue chips were mostly subdued whereas speculative trading pulled some of the mid and small caps in both directions.
The KSX 15 benchmark eased 2.3 pts to 816.08 points taking the month's losses to 10 points while weighted index inched 0.75 pts lower. The volume turnover meanwhile rebounded after hitting a multi-month low in the last session. Over 79 million shares changed hands - a 29 pct jump from Monday.
The sectors closed mixed. Basic materials outpaced the rest with 0.89 percent gain whereas oil and gas dropped 1.24 pct, the weakest performer of the day. In terms of volume, financial services accounted for the highest market share of 42.24 pct while industrials and real estate trailed with 20.9 pct and 14.9 percent contributions respectively.
In the individual shares, Gulf Bank fell 4 fils to KD 0.220 while investment conglomerate KIPCO was down 10 fils at 510 fils erasing the gains in the previous session. Kuwait Food Co (Americana) reversed Monday's rebound with a 40 fils drop to close at KD 2.040.
Zain was unchanged at KD 0.345 off slight early lows while Wataniya Telecom (Ooredoo) slid 40 fils to KD 1.100 with thin volume. Kuwait Telecommunications Co (VIVA) climbed 10 fils to KD 0.930 and Agility was up 5 fils at KD 0.480 extending an identical rise in the day before.
National Investment Co eased fils to 89 fils after trading 3.2 million shares and Sokouk Holding Co clipped 0.5 fils. The company has posted a net loss of KD 651,332 and loss per share of 1.14 fils in the quarter ending March 31, 2016.
The market opened on tame note and moved sideways in early trade. It ticked up half way into the session before slipping back and drifted along the opening level thereafter. It swung higher in the final minutes to close with modest gains.
Top gainer of the day, Kuwait Cable Vision Co spiked 10 pct to 27.5 fils while City Group stood next with 9.43 pct jump. The company has registered a net profit of KD 1.84 million and earnings per share of 16.35 fils in the January- March period of 2016.
Independent Petroleum Group slid 7.58 pct, the steepest decliner of the day and Kuwait Portland Cement topped the volume with 8.8 million shares.
Mirroring the day's uptick, the winners outnumbered losers. 44 stocks advanced whereas 34 close lower. Of the 108 counters active on Tuesday, 30 closed flat. 1859 deals worth KD 5.8 million were transacted - a 19.57 pct drop in value from the day before.
National Industries Group rose 4 fils to 112 fils while Gulf Cable was unchanged at KD 0.400 off early lows. NIG has recorded a first quarter profit of KD 386,000 and earnings per share of 0.3 fils.
Climbed
Kuwait Foundry Co added 4 fils whereas ACICO Industries Co stood pat at KD 0.300. Boubyan Petrochemical Co climbed 10 fils to KD 0.520. Salbookh Trading Co rose 4 fils with thin trading whereas NICBM held the ground steady at 210 fils.
Jazeera Airways was unchanged at KD 0.900 whereas ALAFCO was up 8 fils at 206 fils. Independent Petroleum Group Co slid 25 fils and Automated Systems Co followed suit to end at KD 0.370. United Projects Group gave up 10 fils to settle at KD 0.680.
Kuwait and Gulf Link Transport Co was unchanged at 49 fils whereas KGL Logistics Co trimmed 1 fils. Zima Holding Co took in 0.5 fils and Mezzan Holding paused at KD 1.060. Osos Holding Group climbed 4 fils to 106 fils.
In the banking sector, National Bank of Kuwait was flat at KD 0.620 and Ahli United Bank pared back early losses to pause at 405 fils. Commercial Bank of Kuwait and Al Ahli Bank were not traded during the session.
Kuwait International Bank stagnated at 194 fils and Kuwait Finance House followed suit to end at KD 0.465. Boubyan Bank fell 5 fils to 400 fils and Burgan Bank followed suit, Warba Bank took in 2 fils to close at 174 fils.
Commercial Facilities Co dipped 10 fils while Kuwait Insurance Co stood pat at KD 0.300. The company has chalked a net profit of KD 3.46 million
and earnings per share of 18.73 fils in the January- March period.
Securities House Co and Securities Group Co were unchanged at 41 fils and 82 fils respectively whereas First Investment Co and Housing Finance Co took in 0.5 fils each. Tamdeen Investment Co climbed 10 fils and Noor Financial Investment Co gave up 0.5 fils.
Bayan Investment Co added 0.5 fils and Ekttitab Holding followed suit. Al Mal Investment Co edged 0.5 fils up on back of 5.3 million shares whereas Aayan Leasing Investment Co slipped 1.5 fils. Warba Insurance Co dialed down 2 fils.
Mabanee Co stood pat at KD 0.790 and Al
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.