Gulf markets were muted Thursday ahead of fourth-quarter earnings from blue chip stocks, Reuters reported.
Abu Dhabi-listed Dana Gas fell to its lowest close in at least two years on Thursday on worries about the energy firm's ability to meet debt obligations.
Markaz said liquidity and activity levels decreased on the Kuwaiti bourse during the week. Value traded expanded by 45 percent.
During the week, the Kuwait market traded 1.2 billion shares with a value of KD112.46 million.
The services index dominated value traded, 37.7 percent of this week's value was derived from activities on the services sector followed by investments and real estate with 21.6 percent and 15.5 percent, respectively.
Al-Salam Group Holding attracted 11.6 percent of the value traded (KD13 million); the stock closed up 15 percent at KD 0.138.
HITS Telecom Holding was second on the most active list with 10.9 percent of this week's value traded or KD12.2 million.
The stock's performance was positive [+37.5 percent] at KD 0.081.
The report said 130 companies were traded during the week out of which 48 closed positive, 40 were negative and 126 unchanged.
HITS Telecom Holding was the biggest gainer by booking a return of 37.3 percent and closing at 81 fils; 178.4mn shares were traded valued at KWD 12.2 million.
Reuters added that shares of Dana Gas declined 4.8 percent, weighing on Abu Dhabi's index, which ended 0.2 percent lower.
London-based investment firm Exotix issued a sell recommendation on Dana Gas saying it had "little confidence" in the firm's ability to repay a $920 million debt that matures in October.
"We also question the company's willingness to repay the debt," Ghassan Chehayeb, associate director for research at Exotix said in a report.
Property stocks also declined. Aldar Properties and Sorouh Real Estate dropped 2.4 and 2.7 percent respectively.
Other Gulf markets were quiet, with trade lackluster ahead of quarterly earnings, while worries over the global economy also spurred risk aversion among investors.
Dubai's index fell 0.5 percent to be within 10 points of Dec. 27's seven-year low.
Emaar Properties slipped 0.4 percent and smaller rival Deyaar lost 2.4 percent.
"The whole market is in stagnation," says Marwan Shurrab, vice-president and chief trader at Gulfmena Investments.
"It's not finding the support it requires to stop the selling pressure...although selling is at low volumes."
Qatar's index ended 0.1 percent lower, dropping for the fourth time this week.
Barwa Real Estate fell 1.2 percent and Islamic lender Masraf Al-Rayan slipped 0.2 percent.
Union Development Company dropped 2 percent.
The company's president Khalil Sholy has quit, the firm said in a statement after market hours.
Egypt's benchmark index was up 0.2 percent at 1154 GMT.
Property stocks were buoyant on hopes the government will resolve legal issues surrounding land ownership, traders said.
SODIC was up 3.8 percent and Talaat Moustafa up 3.5 percent.
In recent days the government announced plans to develop land in Sinai, indicating it would start selling plots in other parts of the country to private investors.
