By: Mohamed Farouk

Kuwait - Mubasher: Boursa Kuwait saw an uptrend for the second week in a row, with its price index gaining 0.6% or 40.83 points to 6,845.84 points in the week ended 17 August.

The weighted and Kuwait-15 indices levelled up 1.16% and 0.75% to reach 4.88 points and 7 points, respectively.

The price index managed to break above its resistance at 6,850 points, signalling that the market may see further gains, technical analyst Hassan Al Kandari said.

The main index will continue to rise and sees resistance at 6,900 points if its manages to stabilise above 6,850 points, the analyst added.

The price index targets to reach 7,065 points, then 7,160-7,180 points, Al Kandari noted.

Turnover amounted to KWD 92.89 million this week, compared to KWD 68.07 million last week. Trading volume rose 20.2% to 424.94 million shares from 353.46 million shares.

Translated by: Julian Nabil