Boursa Kuwait ends week on rise

Boursa Kuwait ends week on rise
The price index gained 0.28%, the weighted index rose by 1.76%, and Kuwait15 added 1.7%

By: Mohamed Farouk

Kuwait - Mubasher: The indices of Boursa Kuwait rose this week, as the price index gained 0.28% or 19.3 points, and closed at 6,845.01 points.

Similarly, the weighted index rose by 1.76% or 7.25 points, while Kuwait15 added 1.7%, rising by 16 points.

Capital markets technical analyst Hassan Alkandary told Mubasher that the price index is fluctuating within a range of 80 points, between a support level of 6,770 points, and a resistance level of 6,850 points, which the index approached level but did not exceed.

The index needs to breach the 6,850 points level with high liquidity, and then move to a resistance level at 6,900 points, as it could target levels between 7,065 and 7,160 points, Alkandary noted.

This week, traded values surged 51.6% to KWD 68.07 million, compared to KWD 44.91 million last week, while volumes increased by 16.4% to 353.46 million shares from 303.76 million shares in the week before.

The total number of transactions rose by 22.7% to around 14,880 from nearly 12,130 transactions in the previous week.

Source: Mubasher