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KSE indices maintain bearish trend.

KUWAIT, Jan 10 (KUNA) -- Main indices of Kuwait Stock Exchange (KSE), in early trades on Sunday, dropped with the benchmark shedding 11.05 reaching 5,464 points, followed by weighted and Kuwait-15 indices, respectively losing 1.24 and 5.11 points. Value of exchanged stocks amounted to approximately KD 1.48 million, share turnover some 6.75 million, done in 147 transactions. The Kuwaiti bourse, one of the major regional stock markets, has been gripped with a lackluster atmosphere and downward inclination for some time. According to a weekend report by Al-Oula brokerage company, regional political events negatively affected trading at the KSE last week, contributing to the main indices' bearish course. Other factors that added to the gloomy sentiments were reported government plans regarding subsidies, levying taxes on corporates and citizens. Meanwhile, liquidity continued to shrink in most of the past week sessions, but grew to KD 18 million on Thursday, when the KSE closed with the benchmark shedding 88.8 settling at 5,475 points, followed by the weighted and Kuwait-15 indices, respectively losing 5.35 and 14.02 points. Bayan Investment Company, in an identical report, said the market was overwhelmed by a state of watch and caution as investors anticipate listed companies results for the year 2015, an economic report showed. The KSE ended last week in the red zone, since the price index closed at 5,475.15 points, down by 2.49% from the week before closing, the weighted index decreased by 2.53% after closing at 372.05 points, whereas the KSX-15 Index closed at 876.45 points down by 2.66%. Furthermore, last week's average daily turnover increased by 8.83%, compared to the preceding week, reaching KD 11.10 million, whereas trading volume average was 105.87 million shares, recording a loss of 12.87%, it said. On the other hand, the decline of many previously traded stocks during the last week, lead the market capitalization to lose more than KD 600 million during only four sessions to reach KD 24.66 billion compared to KD 25.27 billion by the end of a week earlier, the report concluded. (end)

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Publication:Kuwait News Agency (KUNA)
Geographic Code:7KUWA
Date:Jan 10, 2016
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