By: Muhammad Farouk
Mubasher: The Boursa Kuwait’s indices levelled down at Tuesday’s close, recording third successive decline, pushed down by geopolitical tensions in the Arabian Gulf.
All-Share Market, Main Market, and Premier Market indices went down by 0.42%, 0.21%, and 0.5%, respectively.
Trading volume declined to 110.72 million shares, while liquidity shrank to KWD 32.89 million.
The geopolitical tensions resulted from the terrorist attacks against Saudi oil facilities had a negative impact on investors’ morale, triggering a wave of correction, vice president of Investment Research at KAMCO Raed Diab told Mubasher.
The Boursa Kuwait was a selling mania that weighed on market capitalisation, which declined to less than KWD 33 billion, the analyst added.
A group of eight sectors ended in the red territory, led by the material sector, which shed 1.56%, while only two sectors grew on the market, including the telecom and industrial sectors, which added 0.3% and 0.12%, respectively.
Warba Capital led the market’s losers on Tuesday, plunging 24.24%, while International Resorts topped gainers, surging 10%.
Translated by: Muhammad Abdul-Wakeel
