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Kuwaiti indices rise in Monday’s close

Kuwaiti indices rise in Monday’s close
The trading volume increased by 32.8% to 167.56 million shares

By: Mohamed Farouk

Mubasher: Boursa Kuwait’s indices ended Monday’s trading session in the green zone, backed by the positive financial results of Kuwait Finance House (KFH) and Burgan Bank which were announced earlier today.

The All-Share Market levelled up by 0.24% to close at the level of 5,750.7 points after earning 13.6 points. The Main and Premier markets edged up by 0.03% and 0.31%, respectively.

The bourse’s liquidity hiked by 18.3% to KWD 22.75 million on Monday from KWD 19.23 million a day earlier.

The trading volume increased by 32.8% to 167.56 million shares from 126.21 million.

A group of seven sectors advanced, led by the insurance with 1.27%, followed by the oil and gas as well as the real estate with 1.09%, each.

The basic materials and the consumer services sectors were the only fallers with 0.26% and 0.17%, respectively.      

Equipment Holding came on top of the gainers with a jump of 24.56%, while Arabi Group Holdings led the decliners with 13.45%.

Burgan Bank logged the highest liquidity of KWD 3.94 million, the stock went down 1.31%.

Aayan Leasing and Investment was the most active stock, with 24.73 million shares traded through 299 transactions at a value of KWD 1.41 million, the stock rose 2.3%.

The All-Share Market has scarcely exceeded the resistance level of 5,750 points and needs to move upwardly to guarantee positive performance during the coming three sessions, capital market analyst Mostafa Al Jarhi told Mubasher.

The index is likely to see a positive performance if it succeeds to exceed the first resistance level of 5,776 points which the index is currently facing, Al Jarhi said, expecting the index is to go below the level of 5,700 points if it does not keep the first support level of 5,730 points.

Translated by: Amal A. Wahaab