By: Mohamed Farouk

Mubasher: Boursa Kuwait finished Tuesday’s trading session with positive performance after the All-Share Market index inched up 0.68%, the Main Market index rose 0.23%, and the Premier Market index grew 0.85%.

Boursa Kuwait’s liquidity increased by 28.2% to KWD 28.43 million from KWD 22.18 million, while trading volume surged 57.8% to 120.18 million, compared to 76.15 million on Monday.

The bourse has bounced back after seeing a sell-off trend due to the region’s geopolitical landscape over the previous period which weighed on most of the GCC markets, head of investment research at KAMCO Raed Diab said.

Boursa Kuwait may see fluctuations in the next period due to a raft of factors, including political tensions between the US and Iran, Diab added.

The advent of Islam's holy month of Ramadan and the summer vacation also contributed to the weak performance.

On the other hand, Diab noted that the expected upgrade of Boursa Kuwait by MSCI Inc to be added into the MSCI emerging-markets (EM) index is a positive sign and the move is expected to attract over $2.5 billion in cash inflows.

The telecommunications sector led the gainers with 1.74%, whereas the industrials and consumer goods sectors were the worst performers with 0.67% and 1.46%, respectively. 

Umm Al Qaiwain General Investment topped the winners with 28.35%, whereas Equipment Holding was the worst performer after slumping 16.21%.

The Gulf Bank of Kuwait (GBK), which edged up 0.33%, led the bourse in terms of volume and value after 19.02 million shares were exchanged, generating a turnover of KWD 5.71 million.

Translated by: Mohammad Hesham Azab