By: Mohamad Farouk

Mubasher: The benchmark price index of Boursa Kuwait added 1.2% or 78.75 points to reach 6,639.38 points by the week ended on 18 January compared to the previous week when it closed at 6,560.63 points.

The weighted index also gained 0.8% or 3.31 points to reach 419.11 points, while the Kuwait-15 index went up 0.84% or 8.03 points to 966.69 points.

The price index succeeded in breaking the 6,545-points level in line with a growth in liquidity during this week, capital market analyst Hassan Al Kandry told Mubasher.

The benchmark index targets the levels 6,895 points and 6,920 points in the short term, with resistance at 6,645 points and 6,790 points, respectively, the analyst added.

The weighted index is currently facing resistance at 420 points, which will lead to 425 points and 432 points, respectively, in case of breaking this resistance, Al Kandry added.

Boursa Kuwait’s trading value increased by 21.3% to KWD 78.4 million this week from KWD 64.64 million a week ago.

The trading volume grew by 31.8% to 688.57 million shares from 522.51 million in the past week.

Transactions stood at about 24,400 this week, 32.2% up from nearly 18,450 a week ago.