Procurement News Notice |
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| PNN | 9764 |
| Work Detail | Kuwait stocks headed north on Wednesday extending the modest rebound in the last session. The price index climbed 13.68 pts in lackluster trade to 5,413.39 points helped by buying in some of the heavyweights led by banks. The KSX 15 benchmark jumped 9.82 pts to 814.8 points taking the month’s gains to 13 pts while weighted index added 2.89 points. The volume turnover meanwhile receded after rebounding on Tuesday. 49.9 million shares changed hands — a 13 pct drop from the day before. The sectors closed mostly in the green turf. Telecommunications outshone the rest with 1.27 pct gain whereas oil and gas shed 0.72 percent, the worst performer of the day. In terms of volume, financial services garnered the highest market share of 41.5 pct while real estate and banks followed with 22 pct and 11 percent contributions respectively Among the prime movers, sector bellwether National Bank of Kuwait rose 10 fils to KD 0.590 extending an identical gain in the last session and Commercial Bank was up by same measure to settle at KD 0.320. Kuwait Food Co (Americana) climbed 20 fils to KD 2.460 taking the year’s gains to 460 fils. Zain rose 10 fils to KD 0.335 on back of 1.8 million shares and Wataniya Telecom (Ooredoo) was not traded during the session. Kuwait Telecommunications Co (VIVA) added 10 fils while logistics major Agility was up 5 fils at 455 fils. Investment conglomerate KIPCO gained 10 fils and National Investments Company dialed up 2 fils on back of 1.3 million shares. The company has logged a net profit of KD 1.76 million and earnings per share of 2.10 fils in the six-month period ending June 30, 2016. The market opened on tame note and moved sideways in early trade. The main index drifted listlessly as investors toed caution and saw a brief uptick half way into the session. It rose again in the final minutes and managed to close with modest gains. Top gainer of the day, AGHC vaulted 9.43 pct to 58 fils while Real Estate Trade Centre (Marakez) climbed 8.3 pct to stand next. Tijara dipped 6.4 percent, the steepest decliner of the day and Al Mal topped the volume with 5.9 million shares. Mirroring the day’s upswing, the market spread was skewed towards the winners, 48 stocks advanced whereas 22 closed lower. Of the 113 counters active on Wednesday, 43 closed flat. 1672 deals worth KD 5.6 million were transacted — a slight 1.52 pct fall from the day before. National Industries Group was unchanged at 118 fils off early lows and Gulf Cable too did not budge from its earlier close of 375 fils. ACICO rose 5 fils whereas Equipment Holding Co stood pat at 45 fils. Kuwait Cable Vision Co held steady at 375 fils. Combined Group Contracting Co and National Ranges Co (Mayadeen) stood pat at 640 fils and 28.5 fils respectively whereas AWJ Holding Co dialed up 2 fils to settle at 60 fils. Swung Jazeera Airways was unchanged at KD 0.840 whereas Independent Petroleum Group Co swung 20 fils lower. The company has clocked a net profit of KD 2.53 million and earnings per share of 17.53 fils in the first half of 2016. Zimah Holding Co and Mezzan Holding Co held the ground at 40 fils and KD 1.020 respectively. The Energy House Co took in 2 fils. The company has posted a first half net loss of KD 1.14 million and loss per share of 1.99 fils. Al Qurain Petrochemical Co was flat at 198 fils after trading in tight range while Kuwait National Cinema Co pulled 10 fils lower. The company has posted a net profit of KD 4.93 million and earnings per share of 52.35 fils. Kuwait and Gulf Link Transport Co paused at 42 fils and KGL Logistics Co closed 1 fil in green. The company has posted a net profit of 30, 2016 KD 3.76 million and earnings per share of 6.36 fils in the first half of 2016 up from net profit of KD 3.49 million and earnings per share of 5.82 fils in the same period last year. In the banking sector, Gulf Bank rose 4 fils to 232 fils extending an identical gain in the previous session whereas Ahli United Bank and Al Ahli Bank stood pat at 385 fils and 310 fils respectively. Kuwiat International Bank was unchanged at 188 fils. Burgan Bank stagnated at 325 fils while Boubyan Bank added 5 fils to settle at 390 fils. Warba Bank was muted at 168 off early lows. Kuwait Investment Co was 1 fil up and International Financial Advisors inched 0.5 fil into green with a volume of over 2 million. Securities House Co eased 1 fil and Securities Group closed flat. Sokouk Holding and Aayan Investment Co were unchanged at 32 fils and 31 fils respectively whereas Al Deera added 1.5 fils. Bayan Investment rose 0.5 fil to 32 fils and Noor Financial Investment Co gave up 0.5 fil to end at 40 fils. Tamdeen Investment Co closed flat and KFIC eased 1.5 fils. Amwal Investment Co fell 1 fil and Ektittab Holding Co stood pat at 37.5 fils. National Real Estate Co and Kuwat Real Estate Co stagnated at 77 fils and 190 fils respectively whereas United Real Estate Co added 3 fils. Mabanee Co was flat at KD 0.790. The market has been mixed so far during the week and has added 4 points in last four sessions. It had dipped 31 pts during whole of August and is down 3.59 pct year-to-date. KSE, with 198 listed companies, is the second largest bourse in the region. In the bourse related news, Hilal Cement Company has posted a net profit of KD 20,659 and earnings per share of 0.2 fils in the six-months period ending June 6, 2016 rebounding from a net loss of KD 95,105 and loss per share of 1.1 fil in the same period last year. Metal and Recycling Co. clocked a net profit of KD 118,386 and earnings per share of 1.58 fils in the six-month period ending June 31, 2016 rebounding from net loss of KD 185,711 and losses per share of 2.48 fils in same period last year. Gulf Glass Manufacturing Company has registered a net profit of KD 941,711 and earnings per share of 18.35 fils in the six-month period ending June 30 as against a net profit of KD 1.39 million and earnings per share of 27.09 fils in the same period last year. Asiya Capital Investments Company has clocked a net loss of KD 5.46 million and loss per share of 7.03 fils in the January-June period sliding from a net profit of KD 1.77 million and earnings per share of 2.29 fils in the same period last year. Salhia Real Estate Company won the approval of Capital Markets Authority to buy back or sell a maximum of 10 percent of its shares for 6 months from date of the approval. |
| Country | Kuwait , Western Asia |
| Industry | Financial Services |
| Entry Date | 15 Oct 2016 |
| Source | http://www.arabtimesonline.com/news/kuwait-index-extends-advance-second-day-nbk-gains-10-fils-nig-unchanged/ |
