Boursa Kuwait declines in week amid higher liquidity

Boursa Kuwait declines in week amid higher liquidity
Boursa Kuwait’s liquidity grew by 28.1% in a week

By: Mohamad Farouk

Mubasher: The price index of Boursa Kuwait posted a grouped drop during the week ended on 7 December 2017; the price index retreated 0.15% or 9.6 points to end the week at 6,186.94 points compared to 6,196.5 points.

The weighted index went down 1.24% or 5 points to end the week at 393.84 points, and the Kuwait-15 index fell by 1.5% or 13.6 points to 894.99 points.

The benchmark price index of Boursa Kuwait is heading in a volatile upward performance within 160 points between the support level of 6,100 points and the resistance of 6,260 points, capital market analyst Hassan Al Kandri told Mubasher.

If the price index breaks the resistance 6,260 points, it is expected for the index to reach 6,310 points and 6,465 points as the first two targets, with a resistance at 6,365 points, the analyst added.

The weighted index is supported at 366 points, while its short-term goal will be breaking the 401-point level, Al Kandri added.

Boursa Kuwait’s liquidity grew by 28.1% to total KWD 62.89 million this week from KWD 49.1 million in the prior week.

The trading volume increased to 341.46 million shares compared to 256.65 million.

The transactions enlarged by 37.7% to about 15,400 compared to nearly 11,180.

At the market cap’s level, Boursa Kuwait lost 1.15% or KWD 310 million ($1.03 billion) to reach KWD 26.72 billion from KWD 27.03 billion a week ago.

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Source: Mubasher Exclusive

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