By: Mohamad Farouk

Mubasher: The indices of Boursa Kuwait started Monday’s trading session in the red zone; the price index edged down 0.02% or 1.6 points to 6,648.5 points.

By 9:38am Kuwait time, both the weighted and Kuwait-15 indices retreated 0.17% and 0.23%, respectively.

If the benchmark price index succeeds in breaking the resistance of 6,654 points, the index will target 6,695 points and 6,705 points, respectively; once breaking this resistance, the instant target will be 6,795 points, capital market analyst Nawaf Al Oun told Mubasher.

The analyst added that reaching above the 6,800 points will be a positive sign of a continuous rise.

Meanwhile, the support level lies at 6,618 points, of which breaking, the index will reach 6,594 points and 6,554 points, which will be considered the lowest rebound level, Al Oun added.

The banks segment led five decliners with 0.4%, dragged by Ithmaar, Burgan Bank, and Kuwait Finance House (KFH) which lost 1.78%, 1.45%, and 0.17%, respectively.

The real estate segment retreated 0.08% in line with the 2.5% decline of Investors.

At the gainers level, the industrial sector topped three advancers, backed by Kuwait Cement which went up 3.4%.

Boursa Kuwait’s turnover amounted to KWD 3.6 million, after 13.8 million shares were traded through 595 transactions.

Alafco was the most active stock on which 2.7 million shares were exchanged at a value of KWD 1.07 million, reaching 400 fils.