By: Mohamed Farouq

Mubasher: The indices of Boursa Kuwait saw a mixed performance in Thursday’s session, as most sectors rose, led by financial services.

The price index gained 0.46% or 31.27 points to 6,885.84 points; its highest level in four months.

The weighted index rose 0.15%, while the Kuwait-15 index declined for the third session in a row, dropping 0.09%.

Boursa Kuwait’s performance is positive so far on the short-term, as the price index managed to exceed the target of 6,980 points and is going for 7,200 points, market analyst Jarrah Al Hendi told Mubasher.

Thursday’s gains, especially in the second half of the session, indicate that the price index target may surpass 6,950 points next week as long as the level of 6,850 points is maintained, market analyst Mohamed Al Anzi stated.

Seven sectors were in the green, led by the financial services sector which gained 1.2%, influenced by the rise in several stocks, led by GFH with 7.4%.

On the other hand, three sectors declined, led by oil and gas with 1.94%, influenced by three losing stocks, mainly due to NAPESCO falling 5%.

Liquidity fell 18.1% to KWD 15.91 million versus KWD 19.43 million in Wednesday’s session; however, traded volume rose 6.7% to 94.93 million shares as compared to 88.99 million shares.

Zain was the leader in terms of trading volume and value, as 8.14 million shares were exchanged through 398 transactions, generating KWD 4.14 million and gaining 0.6%.

Boursa Kuwait saw a negative performance in Thursday’s early trades, with its price, weighted, and Kuwait-15 indices falling 0.11%, 0.08%, and 0.18%, respectively.

Translated by: Mohammad Shokhba