Kuwait Stock Exchange pulled lower on Tuesday to close collectively on red zone for sixth session in ongoing December.
The price index shed 2.08% or 131.2 points to close at 6170.93 pts.
Following suit, the weighted index lost 2.24% or 412 points to close at 412, while the Kuwait-15 index, which reflects trading in blue-chips, lost 2.7% or 50.28 points to settle at 983.76 points.
Meanwhile, stock markets in the Gulf region fell sharply today as Brent crude prices fell below $60 a barrel for the first time since July 2009 as Chinese factory activity slowed and stumbling emerging market currencies dented demand expectations.
Capital market technical analyst Mohammed Sunbol said in a statement to Mubasher “The Kuwaiti market condition is deteriorating, amid enormous selling operations on lack of confidence as oil prices plunge."
Sunbol said he expects the price index to move within the range of 5600-6500 points during the upcoming period.
For his part , capital market technical analysis consultant Nawaf Al ‘Oun said " The price index closed today beyond the level of 6200 points and it may drop by around 100 points in the upcoming session." "The market may witness levels of 6128 pts and 5908 pts”, he added.
As for market figures , today's session saw sealing of 4366 spot transactions compared with 5749 in previous session , worth KWD21.6 million against KWD21.7 million in preceding session with some 158.2 million shares changing hands.
At the sectorial level, almost all of KSE's sectors ended today in the red zone, except for three sectors.
The Consumer Goods, Health Care, Consumer Services were the only gainers, and ended today up with a 0.93%, 0.34% and 0.02% respectively.
On other side, the main loser was "Telecommunications" as it reiterated by 5.75% on the decline of "VIVA" shares by 8.3% and "Hits Telecom" by 8.5%.
Gainer share of the day was "Kuwait Hotels" as it surged by 8.62%, while the number-one loser was "MASHAER" as it declined by 13.33%.
As for most active stock in terms of Value, it was "Zain" as it recorded trades with total value of KWD3.14 million.
Meanwhile, most active stocks in terms of Volume were topped by Gulf Finance House with total volume of exchanged stocks of 39.5 million shares.
The price index shed 2.08% or 131.2 points to close at 6170.93 pts.
Following suit, the weighted index lost 2.24% or 412 points to close at 412, while the Kuwait-15 index, which reflects trading in blue-chips, lost 2.7% or 50.28 points to settle at 983.76 points.
Meanwhile, stock markets in the Gulf region fell sharply today as Brent crude prices fell below $60 a barrel for the first time since July 2009 as Chinese factory activity slowed and stumbling emerging market currencies dented demand expectations.
Capital market technical analyst Mohammed Sunbol said in a statement to Mubasher “The Kuwaiti market condition is deteriorating, amid enormous selling operations on lack of confidence as oil prices plunge."
Sunbol said he expects the price index to move within the range of 5600-6500 points during the upcoming period.
For his part , capital market technical analysis consultant Nawaf Al ‘Oun said " The price index closed today beyond the level of 6200 points and it may drop by around 100 points in the upcoming session." "The market may witness levels of 6128 pts and 5908 pts”, he added.
As for market figures , today's session saw sealing of 4366 spot transactions compared with 5749 in previous session , worth KWD21.6 million against KWD21.7 million in preceding session with some 158.2 million shares changing hands.
At the sectorial level, almost all of KSE's sectors ended today in the red zone, except for three sectors.
The Consumer Goods, Health Care, Consumer Services were the only gainers, and ended today up with a 0.93%, 0.34% and 0.02% respectively.
On other side, the main loser was "Telecommunications" as it reiterated by 5.75% on the decline of "VIVA" shares by 8.3% and "Hits Telecom" by 8.5%.
Gainer share of the day was "Kuwait Hotels" as it surged by 8.62%, while the number-one loser was "MASHAER" as it declined by 13.33%.
As for most active stock in terms of Value, it was "Zain" as it recorded trades with total value of KWD3.14 million.
Meanwhile, most active stocks in terms of Volume were topped by Gulf Finance House with total volume of exchanged stocks of 39.5 million shares.
Source:
Mubasher
