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Boursa Kuwait falls on Wednesday for 2nd session in row

Boursa Kuwait falls on Wednesday for 2nd session in row
Boursa Kuwait’s turnover shrank by 7.7% to KWD 13.64 million on Wednesday

By: Mohamad Farouk

Mubasher: The indices of Boursa Kuwait closed Wednesday’s trading session in decline for the second consecutive session in line with the profit-taking transactions which started on Tuesday.

The benchmark price index went down 0.32% or 21.23 points to 6,603.3 points, while the weighted and Kuwait-15 indices dropped 0.25% and 0.42%, respectively.

The general performance of Boursa Kuwait is still positive for a wide range of investors after the stock exchange will be divided to three markets, deputy head of the research department at KAMCO Raed Diab told Mubasher.

Boursa Kuwait may witness more weakness in the coming short period, Diab added.

Industrial companies led six decliners with 1.3%, while the real estate and consumer goods segments were the only gainers with 1.04% and 0.16%, respectively.

KMEFIC was the top loser with a fall of 19.8%.

Boursa Kuwait’s turnover shrank by 7.7% to KWD 13.64 million on Wednesday from KWD 14.77 million in the previous session after the trading volume decreased by 16.4% to 117.67 million shares from 140.69 million.

The Gulf Bank of Kuwait (GBK) posted the highest liquidity of KWD 1.9 million, while KGL Logistics was the most active stock on which 14.2 million shares were exchanged.