By: Mohamed Farouk

Mubasher: Boursa Kuwait ended its Sunday session on a mixed note, as the All-Share index and the Main index added 0.03% and 0.17%, respectively, while the Premier index retreated 0.04%.

This comes due to selling pressures on blue chips and most of the banking sector’s stocks, technical market analyst Nawaf Al-Oun told Mubasher, adding that the Main Index acquired up to 33%, representing KWD 5 million, of the bourse's total turnover of KWD 14 million on Sunday.

Al-Oun attributed the Main Index's strong actvity to the annual closures of several small and medium stocks, in addition to accrediting the closing price in the companies’ budgets according to the final price of these closures or what is called “Improving annual closures”.

Annual performance

Both the All-Share Index and the Premier index managed to achieve gains in their trading outcome since their launch at the end of April 2018, the technical analyst pointed out, indicating that the highest level achieved by the All-share Index was 5,290 points, or a 5.8% increase. However, the index returned to its starting level at 5,072 points. Meanwhile, the All-share Index grew 1.4% over 2018’s sessions, with the exception of Monday’s trading session.

Meanwhile, the Premier Index, the most profitable index among the three major indices, hiked 9.5% to 5,470 points from 5,000, but it could not maintain this level ending Sunday’s session at 5,265 points.

As for the Main Index, the only loser, it ended Sunday’s session falling 5.5%, or 277 points, to reach 4,723 points.

The Main Index's massive drop was due to non-active trading on small stocks over the year, which led shareholders to sell them at lower prices, Al-Oun said.

However, the second largest market in the region will see an outstanding performance during the first and second quarters of 2019 on the back of full-year 2018 financial results, Al-Oun forecast.

Accordingly, the market’s liquidity is expected to grow over the coming period starting from February.

Al-Oun pointed out that the market was about to activate the third phase of its upgrading system in March 2019, which will attract more investment tools, enhancing the market’s liquidity and trading volume.

Translated by: Kholoud Mohamed Hussein