By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait closed Wednesday’s session in the green for the second consecutive day; the benchmark price index added 0.3% or 20 points to 6,748.32 points.
Similarly, both the weighted and Kuwait-15 indices went up 0.26% and 0.33%, respectively.
The continuous volatile performance in line with the weak trading activity is attributed to not focusing on investment funds and portfolios, deputy head of the investment research unit at KAMCO, Raed Diab, told Mubasher.
Investors currently await market segmentation, which is expected to attract more trading activity towards the listed stocks, namely in the Auction Market, Diab added.
It is noteworthy that Boursa Kuwait has announced its plans for the Market Segmentation, which divides the market into three segments; Premier Market, Main Market, and Auction Market.
The basic materials segment topped seven gainers with 1.4%, followed by the industrial sector with 1.12% in line with 5.6% increase of Acico Industries.
The banking sector added 0.29%, backed by Ahli United Bank (AUB Kuwait) which levelled up 1.9%.
Meanwhile, technology companies led three decliners with 0.93%, followed by the oil and gas sector with 0.32% in line with the 3.01% decline of Senergy.
Taameer was the top winner with an increase of 12.25%.
Boursa Kuwait’s turnover increased by 27.5% to KWD 10.84 million on Wednesday compared to KWD 8.5 million in the previous session after the trading volume grew by 42.7% to 59.56 million shares from 41.73 million.
The National Bank of Kuwait (NBK)recorded the highest liquidity of KWD 1.4 million. The stock retreated 0.13%.
Kuwait Real Estate was the most active stock on which 11.2 million shares were traded. The stock added 0.77%.