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Boursa Kuwait closes Tuesday down amid lower liquidity

Boursa Kuwait closes Tuesday down amid lower liquidity
Kuwait Reinsurance topped the losers with a decline of 9.66%

By: Mohamed Farouk

Mubasher: The indices of Boursa Kuwait closed Tuesday’s trading session in the red zone, in line with a noticeable decline in the trading value amid the current political tension in the region.

The All-Share Market index retreated by 0.25% or 15.18 points to close at 6,023.92 points, the Main Market index went down 0.06%, and the Premier Market index was down 0.32%.

The ongoing decline of Boursa Kuwait for the third successive session indicates to further negative performance in the remaining sessions of July, unlike the positive expectations for the stock market in the beginning of the month, capital market analyst Saad Al Roumy told Mubasher.

As for the remaining two sessions of this week, on Wednesday and Thursday, Al Roumy predicts that the All-Share Market index will continue to fall to the 6,000-point level.

Boursa Kuwait’s turnover decreased by 8.8% to KWD 21.27 million on Tuesday from KWD 23.31 million in the previous session, after the trading volume declined by 28.3% to 95.79 million shares from 133.66 million.

The insurance segment led six decliners with 1.03%, while the consumer goods sector headed four gainers with 2.19%.

Kuwait Reinsurance topped the losers with a decline of 9.66%, while IFA Hotels advanced the winners with 8.5%.

The National Bank of Kuwait (NBK) posted the highest liquidity of KWD 3.48 million, the stock went down 0.2%.

Aayan Leasing, down 0.77%, was the most active stock on which 13.07 million shares were exchanged.