By: Mohamed Farouk

Mubasher: The indices of Boursa Kuwait rose collectively on Wednesday for the second session in a week, despite the lower trading liquidity.

The All-Share Market index inched up by 0.2% or 12 points to 5,950.31 points.

Similarly, the Premier Market index went up by 0.23% or 15.33 points to 6,542.33 points and the Main Market index edged up by 0.11% or 5.13 points to 4,787.44 points.

The Boursa Kuwait’s liquidity lowered by 29% to reach KWD 21.85 million on Wednesday, compared to KWD 30.77 million in the previous session. Meanwhile, the trading volume shrank by 34.2% to 108.17 million shares from 164.43 million.

The consumer goods topped six gainers with 1.05%, while the telecommunications segment led three decliners with 0.15%.

Bayan Investment advanced the green list with 6%, while the Real Estate Trade Centers Co. (Marakez) led the red list with 10.7%.

The Gulf Bank of Kuwait (GBK) recorded the highest liquidity of KWD 2.88 million, the stock rose by 0.68%, however it had started in red until the mid-trading.

On the other side, Aayan Leasing and Investment was the most active stock on which 11.32 million shares were exchanged at a value of nearly KWD 636,800, the stock increased by 2.16%.

The Premier Market and its shares, namely the stocks of the GBK and the National Bank of Kuwait (NBK), had an important role in the establishment of a worthy rise on Wednesday, capital market analyst Badar Al Badr told Mubasher.

Al Badr clarified that the Premier Market has broken the resistance level at 6,530 points, approaching the following resistance level at 6,550 points; if the index breaks this resistance on Thursday, the index will target 6,610 points and 6,650points, respectively.