By: Mohamed Farouk

Mubasher: All Kuwaiti indices have declined in the third week of July 2019, as the All-Share, Premier, and Main markets went down by 0.72%, 0.59%, and 1.11%, respectively.

The All-Share index ended Thursday’s trading session at 6,080.24 points, losing around 44.4 points, compared to 6,124.63 points last week.

Boursa Kuwait’s All-Share index has moved in the uptrend from 5,778-point level, achieving a 380-point growth, Hassan Al Kandari told Mubasher.

The index has succeeded in exceeding all resistance levels, reaching 6,154 points Al Kandri said, noting that the most important resistance level lies at 5,985 points, which indicates to positive results in case the index maintains its level at it.

Al Kandari further said that the All-Share index is currently retesting previous resistance levels which have transformed into support levels, as the index has somehow remained steady at the key support level of 6,020 points where it managed to rebound at high trading volume.

The major support level for the uptrend in the coming period lies at 5,985 points in case the index maintains its current performance, while the 6,350-point level will be the following target level for the All-Share index in the short run, Al-Kandari highlighted.

The All-Share index is currently facing key resistance levels at 6,170 points and 6,275 points, respectively, Al-Kandari clarified.

Boursa Kuwait’s turnover dropped by 33.2% to 686.35 million shares during this week, compared to 1.03 billion shares in the last week.

The liquidity of Boursa Kuwait fell by 31.6% to KWD 129.33 million, compared to KWD 189 million in the last week.

On a weekly basis, the number of transactions decreased by 18.9% to nearly 31,060 from approximately 38,290 last week.

Translated by: Amal A. Wahaab