By: Mohamed Farouk
Mubasher: The indices of Boursa Kuwait closed Tuesday’s session in the green, with the All-Share, Premier and Main market indices rising 0.15%.
Trading was relatively calm following the recent wave of sell-offs primarily of blue chips, KAMCO’s vice president of investment research told Mubasher, noting that market capitalisation exceeded KWD 30 billion.
Raed Diab affirmed the positive outlook for the Kuwaiti bourse, expecting liquidity to increase after offering new investment instruments next March.
The All-Share index must close above 5,292 points to confirm the continuity of the positive pattern and target levels ranging between 5,400- 5,500 points, the analyst added, stressing that a fall below the support level of 5,200 points will lead to more corrective declines towards 5,165 points.
The technology sector led gainers with 9.5%, while the consumer services sector headed decliners with 0.93%.
ACICO Industries topped risers with 9.8%, whereas Ras Al Khaimah Co. for White Cement and Construction Materials headed fallers and retreated 12%.
Boursa Kuwait’s liquidity shrank 9.2% to KWD 16.54 million on Tuesday, from KWD 18.21 million in the previous session, while trading volume fell 17.2% to 102.15 million shares, against 123.34 million on Monday.
The National Bank of Kuwait’s (NBK) stock, up 0.23%, registered the highest trading value of KWD 2.3 million, while Gulf Petroleum Investment Company’s (PetroGulf) stock, unchanged at 31 fils, led the bourse in terms of trading volume with 17.51 million shares.
Translated by: Zeinab Adel
