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Real estate, industrial stocks boost Boursa Kuwait early Monday

Real estate, industrial stocks boost Boursa Kuwait early Monday
The consumer goods sector was the sole decliner early Monday

By: Mohammed Farouk

Mubasher: The Premier Market index of Boursa Kuwait opened Monday’s trading session slightly up by 0.06%, while both the All-Share Market and Main Market indices inched up 0.07% and 0.09%, respectively.

By 9:23 am Kuwait time, the real estate and the industrial sectors added 0.27% and 0.15%, respectively.

On the other hand, the consumer goods sector was the sole decliner with a 0.02% decrease.

Taameer Real Estate Investment’s stock led gainers with 6.06%, while Al Deera Holding’s stock headed losers with 9.72%.

Trading volume amounted to nearly 7.8 million shares exchanged through 510 transactions at a turnover of KWD 3 million.

Kuwait Finance House (KFH), up 0.29%, was the most heavily traded stock with 2.2 million shares exchanged at a turnover of KWD 1.52 million.

Boursa Kuwait is getting ready for the potential upgrade on the MSCI Emerging Markets index to be announced on Tuesday, 25 June, market analysts Badar Al Badr told Mubasher.

Investment funds, particularly the foreign ones, weigh on the blue-chip stocks with the aim to achieve the highest return when investing in them, Al Badr said.

He also expected the banks to acquire not less than 60% of the investments to be pumped into the stock market after the inclusion into the MSCI EM index.

 

Translated by: Mai Ezz El-Din