Services Sector Leads KSE trading: Analysts

The services sector, with its blue chip shares, are the most traded and outperforming among the eight sectors of the Kuwait Stock Exchange (KSE), several Kuwaiti economists have concurred.
“The service sector, with its major companies such Agility and telecom giants Al-Wataniya and Zain, leads transactions at the stock market up and down,” financial analyst Ali Al-Nemash said Monday.
“Most investors want to trade in this sector as it offers the highest price level compared with other sectors in the market,” he said. Al-Nemash pointed out that “a large proportion of the service sector were family businesses, who do not want to sell their shares to other traders. But they opted for putting their shares for trade on the stock market for several reasons, including their desire to secure finance for expansions.” For his part, financial analyst Suleiman Al-Wegayyan described the service sector as the best among the eight sectors listed on the market.
“This sector includes a mix of stocks related to logistics, communications, construction and everything related to the services needed by citizens,” Al-Wegayyan explained in statements to KUNA.
He underlined that the shares of this sector are the most active on the market, especially the leading ones which both small and big traders strive to acquire.
Al-Wegayyan admitted that the services sector witnesses speculation operations like any other sector on the market due to the big and generous dividends distributed to its shareholders at the end of each year.
Meanwhile, economist Adnan Al-Dulaimi told KUNA that there has been an upward trend in this sector since the beginning of the year by nearly 6 percent. He described it as the most heavily traded sector and the best in performance.
Al-Dulaimi expected that the sector will see gradual rises in the coming months in coincidence with the implementation of the state’s development plan.