Boursa Kuwait indices close Thursday mixed amid lower liquidity

By: Mohamad Farouk

Mubasher: The indices of Boursa Kuwait closed Thursday’s trading session with a mixed performance; the price index retreated 0.19%, or 13.1 points, to 6,764.28 points, while both the weighted and Kuwait-15 indices added 0.25% and 0.50%, respectively.

Fluctuation is controlling the market in the current period, capital market analyst Mostafa Al Jarhi told Mubasher.

The stock market is expected to see an improvement in the coming period in line with the disclosure of the financial statements and subsequent cash dividends, the analyst added.

The price index is being supported at 6,750 points, and it targets the level 6,850 points; if the index reaches below the support level, it will target 6,700 points.

Banks topped eight gainers with 0.75%, backed by Al Ahli Bank of Kuwait which rose by 5.7%.

Meanwhile, the industrial sector led three decliners with 1.7%, dragged by UPAC which lost 6.67%.

Kuwait Real Estate was the top winner with a gain of 19.52%, while Kuwait Cable led losers with 20%.

Boursa Kuwait’s turnover declined by 7.9% to KWD 9.13 million on Thursday compared to KWD 9.91 million on Wednesday after the trading volume decreased by 20% to 52.27 million shares from 65.35 million.

The National Bank of Kuwait (NBK) posted the highest trading value of KWD 1.55 million. The stock rose by 1.06%.

Up 1.54%, Ithmaar was the most active stock on which 10.34 million shares were exchanged.

Mubasher Contribution Time: 15-Feb-2018 11:03 (GMT)
Mubasher Last Update Time: 15-Feb-2018 11:33 (GMT)

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