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Boursa Kuwait ends Sunday with mixed performance

Boursa Kuwait ends Sunday with mixed performance
Boursa Kuwait’s trading value tumbled 32.7% to KWD 28.7 million

By: Mohamed Farouk

Mubasher: The indices of Boursa Kuwait finished Sunday’s trading session on a mixed note after the All-Share and Main markets inched down 0.09% and 0.52%, respectively, while the Premier Market index edged up 0.07%.

The stock exchange has extended the mixed performance seen in most of the previous-week sessions, capital market analyst Saad Al Rumi told Mubasher.

Investors are currently being grabbed by the cautious mood due to pressures stemmed from announcing earnings statements and the approaching Islam's holy month of Ramadan, Al Rumi added.

The analyst further noted that this period usually sees a selling trend ahead of the onset of Ramadan and summer vacation.

From a technical perspective, Al Rumi said that the All-Share Market index is still seeing a positive performance as long as it settles above the support level of  5,800 points, while the index's main resistance level is at 5,850 points.

The insurance sector led decliners with 1.1%, while the consumer services sector topped risers with 0.56%.

International Resorts Company’s (IRC) stock was the worst performer with 21%, while National Industries’ stock levelled up 8.6%.

Boursa Kuwait’s trading value tumbled 32.7% to KWD 28.7 million on Sunday, from KWD 42.63 million, while traded volume declined 16.2% to 173.65 million shares, compared to 207.17 million on Thursday.

Kuwait Finance House’s (KFH) stock, which upped 1.02%, led the market in terms of liquidity with KWD 4.41 million, while the stock of Ahli United Bank -Bahrain (AUB), which remained stable at 259 fils, generated the highest trading volume with 16.71 million shares.

 

Translated by: Mohammad Hesham Azab