Mubasher: The profit collection transactions registered on Boursa Kuwait, during the week ended on 12 October, have played a key role in directing the performance of the three indices; the price index, the weighted index, and the Kuwait-15 index, according to a recent report issued by Bayan Investment Co.
Boursa Kuwait closed last week in the red zone; meanwhile, the stock market has achieved gains attributed to the purchasing operations on blue stocks and operating shares, especially after the entry to the FTSE emerging markets list, the report added.
The negative performance registered last week was in line with the investors’ anticipation of companies disclosing their income statements for the first nine months of 2017; this trend affected both the value and volume of Boursa Kuwait.
Selling pressures resulted in generating more than KWD 380 million market cap losses during the past week, reaching KWD 28.89 billion, which was 1.31% lower than the previous week with a market cap of KWD 29.41 billion.
“For the annual performance, the Price Index ended last week recording 15.32% annual gain compared to its closing in 2016, while the Weighted Index increased by 13.54%, and the KSX-15 recorded 13.55% growth,” Bayan’s report said.
It is worth noting that Boursa Kuwait closed last week in decline, as the price index went down 0.5%, the weighted index fell 1.54%, and the Kuwait-15 index retreated 2.31%.
