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Boursa Kuwait closes Monday on mixed note amid thin liquidity

Boursa Kuwait closes Monday on mixed note amid thin liquidity
The indices of Boursa Kuwait closed Monday’s session on a mixed note, after the Main market rose 0.06%, while the Premier market fell 0.03% and the All-Share index was near stable.

By: Mohamed Farouk

Mubasher: The indices of Boursa Kuwait closed Monday’s session on a mixed note, after the Main market rose 0.06%, while the Premier market fell 0.03% and the All-Share index was near stable.

The basic materials sector led risers with 1.16%, while the telecommunications sector headed decliners with 0.4%.

Al Massaleh Real Estate topped gainers, adding 9.02%, whereas Sanam Real Estate led fallers with 10%.

Boursa Kuwait’s liquidity shrank 27.8% to KWD 18.21 million on Monday, from KWD 25.21 million in the previous session, while trading volume grew 77.8% to 123.34 million shares, against 122.24 million on Sunday.

Ahli United Bank’s (AUB) stock, which added 0.46%, topped the market in terms of volume and value after 21.65 million shares were exchanged at a turnover of KWD 4.77 million.

Boursa Kuwait’s mixed performance on Monday can be attributed to investors’ concern over the disclosure of the annual financial results of listed companies, technical analyst Ali El Salmy told Mubasher. 

El Salmy added that there was a few number of listed companies that disclosed their earnings reports, noting that the disclosure period is extended for three months.

The performance of the All-Share index is still positive as it remains over the important level of 5,250 points, El Salmy stated, adding that if the index exceeds this level  on Tuesday, it may move to the first resistance level of 5,280  and 5,300 points.

Translated by: Zeinab Adel