By: Mohamed Farouk

Mubasher: The indices of Boursa Kuwait closed Thursday’s session on a mixed note, with the All-Share and Premier indices rising 0.09% and 0.21%, respectively, while the Main Market index fell 0.16%.

The basic materials sectors led gainers with 0.22%, while the consumer goods sector led fallers and retreated 2.11%.

In terms of stocks, Sanam Real Estate topped risers and soared 6.45%, whereas Shuaiba Industrial (PAPER) headed decliners with 10%.

Boursa Kuwait’s liquidity shrank 21.3% to KWD 23.8 million on Thursday, against KWD 30.24 million in the previous session, while trading volume fell 20.6% to 122.88 million shares, from 154.79 million on Wednesday.

Ahli United Bank - Bahrain’s (AUB – Bahrain) stock, up 2.2%, topped the market in terms of volume and value after 41.11 million shares were exchanged at a turnover of KWD 9.44 million.

AUB’s stock saw active trading at Thursday’s session coinciding with the bank’s board meeting regarding the potential merger with Kuwait Finance House (KFH), technical analyst Nizar Younes told Mubasher.

On the other hand, KFH’s stock fell for the second straight session, the analyst added, noting that this reverse operation might aim at nearing the price limits between the stocks for both lenders to make the merger deal more satisfactory to their boards and shareholders.

From a technical perspective, Younes noted that the All-Share index was still moving within a positive trend, having remained over the main support level at 5,200 points.

He stressed the need for stability within the transitive support levels in order to break resistance at 5,250 points.

 Translated by: Zeinab Adel