Kuwait bourse indices rally for 2nd consecutive day

KUWAIT, July 25 (KUNA) -- Kuwait Stock Exchange main indices rallied for the second consecutive day on Monday against backdrop of positive corporates' revelations for 1H 2016.
The session first hours witnessed fall of the key indices, with the trade value amounting to KD one million, trade volume exceeding 15 million stocks, amid speculations on small chips.
The speculations on the cheap stocks persisted, prevailing the session, amid traders' anticipation for further financial disclosures by the listed companies for Q2 2016.
Al-Ahli Bank declared its financial statement for the 1H 2016, with a slight rise as compared to the past year same period, 0.4 percent, without change in stock profitability. Profit declarations were also made by Mazaya Co. and Dubai Oula. Meanwhile, Yaco Co. publicized losses, incurred in the year's 1H.
Trade value dropped to KD 7.22 million against KD 11.1 million in Sunday's session. Moreover, the stock turnover fell to approximately 130 million, in contrast to 159 million on Sunday.
Basic materials' sector was the number one in terms of rising, settling at 3.51 points. Consumption services posted the deepest fall, reaching 9.7 points.
The KSE benchmark closed the day trades rising by 1.32 points, reaching the level of 5,395 points. Spot value amounted to KD 7.22 million, done in 2,712 spot deals while turnover reached 130 million shares. (end) fh.rk