By: Mohamad Farouk

Mubasher: The price index of Boursa Kuwait edged down 0.41% or 25.8 points to 6,231.97 points.

Similarly, both the weighted and Kuwait-15 indices retreated 1.17% and 1.46%, respectively.

The Kuwaiti stock market is still incapable of reflecting clear image for the coming trend, ignoring the companies’ positive financial results which increased 15%, the deputy head of the investment research unit at KAMCO, Raed Diab, told Mubasher.

Dropping the strong support level of 6,000 points is a positive step; however, other indicators are still needed to increase chances for a rise, the analyst added.

The benchmark index needs to close above the resistance level of 6,300 points to predict more purchases when reaching 6,350 points and 6,400 points, Diab noted.

The consumer services segment led six decliners with 2.12%, dragged by Kuwait Cinema which lost 12.2% to be the top loser.

Meanwhile, the industrial sector topped five gainers with 0.31%, backed by Shuaiba Industrial which rose 11.11%.

Boursa Kuwait’s liquidity increased by 30.2% to KWD 14.98 million on Tuesday from KWD 11.51 million on Monday, after the trading volume grew by 1.5% to 59.8 million shares from 58.9 million.

The National Bank of Kuwait (NBK) posted the highest turnover of KWD 2.91 million, falling 2%.

Kuwait Finance House (KFH) was the most active stock on which 5.36 million shares were traded, down 1.5%.