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Boursa Kuwait falls on Monday close

Boursa Kuwait falls on Monday close
Boursa Kuwait’s turnover plunged by 12% to KWD 18.71 million on Monday

By: Mohamed Farouk

Mubasher: The indices of Boursa Kuwait closed Monday’s trading session with negative performance, hitting the lowest liquidity level in four months.

The All-Share Market retreated by 0.29% or more than 17.6 points to close at 5,953.5 points, while both the Main and Premier markets fell by 0.22% and 0.32%, respectively.

Boursa Kuwait’s turnover plunged by 12% to KWD 18.71 million on Monday compared to KWD 21.27 million in the previous session after the trading volume levelled down by 23.4% to 93.24 million shares from 121.73 million.

The consumer services sector headed the bourse’s losers falling 0.71%.

The insurance sector was the market’s only gainer adding 2.02%.

The Kuwait Finance House (KFH) reported the highest liquidity of KWD 3.03 million, the stock went down 0.67%.

The Aayan Leasing and Investment (Aayan) was the most active stock on which 15.49 million shares were exchanged, the stock went down 1.37%.

Today’s declines are considered positive as they show low trading activity, which usually reassures market analysts and experts, technical analyst Ali El Salmy told Mubasher.

He added that these drops come due to quick profit-taking, resulted from the hike of the majority of listed stock on Sunday.