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Boursa Kuwait closes Sunday in green; NBK tops liquidity

Boursa Kuwait closes Sunday in green; NBK tops liquidity
The indices of Boursa Kuwait closed Sunday’s trading session in the green

By: Mohamed Farouk

Mubasher: The indices of Boursa Kuwait closed Sunday’s trading session in the green, with the All-Share index rising 0.28%, while the Main and Premier markets surged 0.1% and 0.37%, respectively.

The banking sector grew 0.64%, boosted by the heavyweight National Bank of Kuwait (NBK) and Kuwait Finance House (KFH).

Meanwhile, the consumer goods sector lost 4.65%, pressured by Livestock Transport and Trading, and Danah Al Safat Foodstuff which retreated 4.71% and 0.51%, respectively.

Ras Al Khaimah Co. for White Cement and Construction Materials led gainers with 16.55%, while Hilal Cement headed fallers with 26.7%.

Boursa Kuwait’s liquidity fell 12.6% to KWD 28.25 million on Sunday from KWD 32.33 million in the previous session, while trading volume dropped 17.6% to 175.88 million shares, compared to 213.51 million on Thursday.

NBK’s stock, which recorded its highest level in eight years after rising 0.92% to 873 fils, posted the highest trading value with KWD 6.43 million.

Gulf Petroleum Investment’s stock, which added 1.33% to 30.4 fils, registered the highest trading volume with 16.88 million shares, its most active level in 2019.

Boursa Kuwait’s All-Share index extended its gains to surpass successive resistance levels, with the index exceeding 5230 points on Sunday, making it ready to move to the next level at 5250 points then to 5280 points, facing an important resistance level at 5300 points, technical analyst Nizar Younis told Mubasher.

Boursa Kuwait’s indices have seen a robust performance in the first session of the week, encouraged by the banking sector, technical analyst Nizar Younis told Mubasher.

The All-Share index extended its gains to surpass successive resistance levels, he added, indicating that the index has exceeded the level of 5230 points on Sunday, making it ready to move to the next level at 5250 and 5280 points, facing an important resistance level at 5300 points.

Translated by: Zeinab Adel