By: Mohamed Farouk

Mubasher: The indices of Boursa Kuwait closed Monday’s session with a massive decline, after the All-Share index tumbled 0.11%, while the Main and Premier markets retreated 0.04% and 0.27%, respectively.

The consumer goods sector led fallers with 1.7%, while the consumer services and banking sectors were the only risers, with 0.34% and 0.14%, respectively. 

Hilal Cement headed decliners with 18.9%, while First Takaful Insurance topped gainers, adding 17.8%.

Boursa Kuwait’s liquidity lost 4.2% to KWD 27.06 million on Monday, from KWD 28.25 million in the previous session, while trading volume dipped 4.2% to 168.54 million shares, against 175.88 million on Sunday.

The heavyweight National Bank of Kuwait’s (NBK) stock, up 0.8% to 880 fils, posted the highest trading value with KWD 4.68 million, while Mashaer Holding’s stock, which added 0.91% after successive losses in the previous sessions, led the bourse in terms of trading volume with 25.74 million shares.

Boursa Kuwait’s downward trend on Monday is a temporary correction movement that followed the rapid gains achieved in the previous sessions in 2019, technical analyst Ali El Salmy told Mubasher. 

The All-Share index is still positive even after declining below the resistance level of 5230 points, as it is expected to target levels ranging between 5300 to 5350 points before the end of January, especially if the firms’ financial results come positive, El Salmy added.

Translated by: Zeinab Adel