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Kuwaiti indices end Thursday’s session mixed

Kuwaiti indices end Thursday’s session mixed
Aayan Leasing and Investment was the most active stock on Thursday

By: Mohamed Farouk

Mubasher: Boursa Kuwait closed Thursday’s trading session in mixed boards, as the All-share and Premier markets declined by 0.15% and 0.22%, respectively, while the Main Market index rose by 0.04%.

Boursa Kuwait’s trading volume posted a slight increase of 1.3% to 109.57 million shares from 108.17 on Wednesday. Liquidity dropped by 6.7% to KWD 20.39 million from KWD 21.85 million.

Sector-wise, the consumer goods sector was the top gainer among six sectors with 0.77%, while the consumer services sector led four decliners with 0.25%.

Warba Capital Holding Co. topped the winners with 8.93%, while Sanam Real Estate led the losers with 9.76%.

Ahli United Bank – Bahrain (AUB Bahrain) posted the highest liquidity of KWD 3.06 million, the stock levelled down 0.71%.

Aayan Leasing and Investment was the most active stock with 13.12 million shares exchanged, the stock levelled up 1.41%.

Boursa Kuwait’s Weekly performance

Boursa Kuwait’s indices dipped during the week ended on Thursday, 29 August 2019, with a noticeable decline in the trading volume.

The All-Share Market ended the week at 5,941.13 points, losing 1% or 59 points when compared to 6,000.10 points on 22 August.

Meanwhile, the All-Share index slumped by 1.25% at the level 6,52781 points, losing 82.4 points, while the Main Market slid by 0.22% at 4,789.35 points, with over 10 points lost.

Boursa Kuwait’s trading volume shrank during the week by 11.8% to 637.1 million shares from 721.96 million.

Weekly liquidity posted a slight decrease by 0.32% to KWD 131.37 million from KWD 131.78 million.

The number of transactions fell by 3.6% during the week to around 28,700 from about 29,760.

Analyst’s commentary

The All-Share Market fell to the 5,880-point level, hence, moving downwardly after it had reached the support level at 6,030 points, capital market analyst Hassan Al Kandari told Mubasher.

The index rebounded from the target level at 5,880 points, which is considered a support level.

The All-Share index may retest the 6,030-point level, Al Kandari predicted, noting that the level at 6,110 is a key resistance level that is forecast to be targeted in the short run.

Furthermore, the index will hit the level at 6,350 points given that it could break through the level at 6,110 points, Al Kandari remarked, highlighting that the index may fall to the support level at 5,700 points in case it fails to remain at the support level at 5,880 points.

 

Translated by: Amal A. Wahaab