By: Mohamed Farouk

Mubasher: The stock of Warba Bank registered negative performance during Tuesday’s session, despite the profitable financials disclosed earlier today.

By 11 am Kuwait time, the stock edged down 0.4% to reach 252 fils, with a trading volume of 1.3 million shares through 109 transactions at a total value of about KWD 329,200.

The stock of Warba Bank took the same negative path of Boursa Kuwait, namely the Premier Market under which the stock is listed. The index of the Premier Market went down 0.37% in line with a decrease in the majority of the listed banks, capital market analyst Moustafa Al Jarhi told Mubasher.

On a technical level, Warba Bank is supported at 250 fils, while falling below this point would lead the stock to lower price levels ranging from 235 fils to 240 fils, Al Jarhi added.

Warba Bank’s stock registered total purchase orders of 6.13 million shares, versus 5.66 million shares representing the sell orders.

Earlier on Tuesday, Warba Bank announced a 17.5% year-on-year increase in profits to KWD 2.68 million during the second quarter of 2019.