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Kuwait indices close mixed on Tuesday

Kuwait indices close mixed on Tuesday
Boursa Kuwait’s liquidity went up 24.1%

By: Mohamed Farouk

Mubasher: The indices of Boursa Kuwait ended Tuesday’s trading session in a mixed performance, as the All-Share and the Premier markets rose 0.7% and 0.96%, respectively, while the Main Market index ebbed 0.04%.

Boursa Kuwait’s liquidity went up 24.1% to KWD 44.4 million on Tuesday, compared to KWD 35.78 million yesterday. Moreover, the trading volume has seen a jump of 36.7% to 159.55 million shares, versus 117.01 shares.

Boursa Kuwait continues to see a positive performance in line with the upgrade to the MSCI Emerging Markets Index, deputy head of the investment research unit at KAMCO Investment Raed Diab told Mubasher.

The analyst expects this upgrade to attract up to $2.4 billion worth of cash flows to Boursa Kuwait.

On the GCC and MENA stock markets, Kuwait’s Premier Market index topped the list with 21.1% during the first half of 2019, in addition to beating the performance of both S&P index, the analyst added.

Diab predicts this positive performance to remain for a period of time.

Six sectors edged up in the mid-week session, led by the telecommunication segment which rose 1.78%. Meanwhile, the consumer goods sector led four decliners with a fall of 1.06%.

Amwal International Investment came at the top of the winners after jumping 19.57%, while Tamdeen Real Estate led the losers with 9.87%.

Kuwait Finance House (KFH) was the most active stock with a value of KWD 8.13 million, the stock went up 1.53 %. Also, Ahli United Bank (AUB) – Bahrain, which closed 2.28% up, generated the highest trading volume with 29.47 million shares.