By: Mohamad Farouk

Mubasher: The indices of Boursa Kuwait continued its positive performance for the fifth session in a row, registering the most active trades in two months.

Reaching the highest level in three months, the benchmark price index edged up 0.3% or 19.66 points to close at 6,626.6 points.

Similarly, both the weighted and Kuwait-15 indices gained 0.44% and 0.72%, respectively.

The consecutive rise witnessed at Boursa Kuwait boosted the investors’ sentiments in line with the positive news spread, including KGL’s new contract with the USE army on Sunday, capital market analyst Badar Al Badr told Mubasher.

Financial statements’ disclosures for fiscal year 2017 are expected to record better results than those registered in FY16, the analyst added.

The price index is being supported at 6,595 points and 6,560 points, while its resistance is at 6,645 points which will lead to 6,665 points as a target, Al Badr said.

The industrial segment topped six gainers with 1%, backed by KGL which rose by 19.9%. Telecom companies also added 0.93% in line with the 2.7% of the leading stock Zain.

Meanwhile, the consumer services sector led four decliners with 1.04%, dragged by Danah Al Safat which lost 3.78%.

Boursa Kuwait’s turnover increased by 33% to KWD 17.22 million on Monday compared to KWD 12.95 million in the previous session after the trading volume grew by 26.6% to 155.08 million shares from 122.5 million.

Zain posted the highest liquidity of KWD 3.41 million, while KGL Logistics was the most active stock on which 25 million shares were traded.