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KSE posts gains in early trades

KUWAIT, Feb 14 (KUNA) -- Main indexes of Kuwait Stock Exchange (KSE) climbed in early trades in Sunday's session, the new week's opening session.
Price index read 5,147, climbing 15.9 points. Weighted index rose 1.66 points and Kuwait-15 index put on 4.97 points.
Value of traded shares reached some KD 1.79 million, share turnover approximately 22.4 million, done in 468 deals. (USD=KD 0.298). The local bourse ended last week in the red zone as the benchmark closed at 5,131.56 points, down by 1.29 percent from the week before closing. The weighted index decreased by 1.95 percent after closing at 350.36 points, while the KSX-15 Index closed at 827.17 points down by 1.59 percent.
Last week's average daily turnover decreased by 26.71 percent, compared to the preceding week, reaching KD 12.01 million, whereas trading volume average was 141.34 million shares, recording a decrease of 23.18 percent, Bayan Investment Company said in a weekend report.
The market bearish trend was reported as some traders pocketed earnings, ignoring positive results disclosed by some listed companies and banks during the week, which negatively affected performance.
By the weekend, number of the companies that disclosed 2015 financial results reached 42, realizing around KD 910.84 million, with an increase of 5.46 percent from the results of the same companies for the same period of 2014, According to Bayan Co.
On the other hand, the market capitalization for the 190 listed companies in the official market reached KD 23.33 billion, declining by KD 365.65 million or 1.54 percent of its value at a week earlier, where it was KD 23.69 billion, it added, noting that on an annual level, the market has lost about KD 1.94 billion since the beginning of 2016, declining by 7.67 percent. (end) rk