LOC19:01
16:01 GMT
KUWAIT, March 28 (KUNA) -- The total number of the companies that disclosed their 2014 financial results by the end of the week reached 140, out of 191 listed in the Kuwait Stock Exchange (KSE), a specialized economic report.
The report, by Bayan Investment Company, unveiled that the 140 companies realized approximately KD 1.63 billion (USD 5.4 billion) in gains, with an increase of 11.07 percent from its results of 2013 financial year.
Meanwhile, it noted that the stock market indices continued downward direction for the fourth consecutive week, affected by the selling trend that most of the traded stocks were subject to during the week, which caused the three indicators to fall and lose all its previously realized gains since the beginning of the year, to close once again below 2014 closing.
Moreover, the stock market initiated its first session of the week with losses for the three indexes, among pressures from the selling and profit collection operations executed on the large-cap and small-cap stocks, in addition to a noticeable reluctance to purchase by some traders, which caused the pumped liquidity levels to drop.
On the last trading session of the week, the stock market was subject to violent losses affected by the random selling operations that included stocks of different sectors, especially the Technology and Financial Services, the most declined sectors compared to the other sectors in the market.
By the end of the week, the market capital of the 191 listed companies reached KD 26.68 billion, with a decrease of around KD 1.47 billion, representing 5.24 percent of its value in the preceding week, which was around KD 28.15 billion.
For the annual performance, the price index ended last week recording 4.79 percent annual loss compared to its closing in 2014, while the weighted index decreased by 3.47 percent, and the KSX-15 recorded 3.93 percent loss. (end)
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