Mubasher: The indices of Boursa Kuwait closed Monday’s trading session in negative territory, dragged by the fall of eight sectors.
The Premier Market Index declined 0.93%, while the All Share Market Index and the Main Market Index went down 0.82% and 0.59%, respectively.
The market value grew 0.14% to KWD 29.02 million ($95.90 million) on Monday, compared to KWD 28.98 million ($95.77 million) on Sunday,
Boursa Kuwait's trading volume rose to 71.19 million shares on Monday, against 47.9 million in the prior session, while the market’s liquidity jumped to KWD 19.39 million, from KWD 9.52 million in the previous session.
The massive drop in toady's trading activities pointed out the correction of the market’s indices, technical analyst Nawaf Alawn told Mubasher.
Adopting the FTSE Russell Industry Classification Benchmark (ICB) will lead to an increase in purchasing powers, Al-Awn added.
In June, the Kuwaiti bourse has announced adopting the FTSE Russell ICB for all equity stocks listed on its markets, effective June 2018.
The industrial sector topped the market’s losers falling 1.41%, followed by the banking and oil sectors, which went down 0.94% and 0.53%, respectively.
By the end of the session, Jiyad Holding’s stock, which decreased 7.46%, led the bourse in terms of trading volume with 3.1 million shares, while Jazeera Airways’ stock headed the market in terms of liquidity with a turnover of KWD 362,200.
Translated by: Kholoud Mohamed Hussein