Early closures of 2015 to increase trade value at KSE - analysts

KUWAIT, Dec 20 (KUNA) -- Two Kuwaiti economists have agreed that early closures of several portfolios and investment funds of the year at the Kuwait Stock Exchange (KSE) is likely to boost liquidity this if market makers join the trading.
In separate interviews with KUNA, they shared the view that it is usual for the market at that time of the year to experience exceptional trading, unless pressing factors exist, such as arbitrary selling or focusing on cheap stocks below 50 fils.
Portfolios and investment funds will be in an unenviable situation over this week and the next, with approaching end of the year, Murabahat Investment Deputy CEO Mohannad Al-Mesbah told KUNA. Prices of many shares have plummeted and efforts are expected to "beautify them." According to Al-Mesbah, market trading through the year has been weak for the continuity of the same reasons and findings, either on the technical level or the general investment climate.
The market still lacks obvious orientation and investment vision, he said. Though companies and banks have made good profits during the past three quarters, investment reactions were not satisfactory and many investors turned to other markets such as real state.
For his part, financial analyst, Ali Al-Namash said that the closures of the year will see huge pressures, adding that "beautification of shares" will be on a tight scale since the market has not moved toward a positive direction through the year.
For Al-Namash, the current level of liquidity, KD 10-12 million, is a good one for reasons related to other countries' economies, besides the falling of oil prices. However, the targeted level is KD 20-25 million daily.
The KSE ended Sunday's session in the red zone as the price index lost 51.76 points reaching 5,571.93 points, the weighted index inched down by 0.94 points reaching 380.46 points and the KSX 15 lost 0.14 points to stand at 902.02 points.
Number of trades stood at 2,008, value of traded stocks at KD 7,586,302.5. Meanwhile, share turnover amounted to 54,132,366.
Top gainers were (FOOD), (BPCC), (IFAHR), (CABLE) and (ALRAI), while the top volume shares were (ALMADINA), (INVESTORS), (SECH), (ADNC) and (NBK). (pickup previous( mka.ht.tab.msa