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Boursa Kuwait rises for 2nd day in row

Boursa Kuwait rises for 2nd day in row
The All-Share Index increased by 0.31% to 5,693.95 points

By: Mohamed Farouk

Mubasher: Boursa Kuwait ended Thursday’s trading session on the rise for the second consecutive day, as the All-Share Index increased by 0.31%, with the main and premier indices adding 0.23% and 0.34%, respectively.

Liquidity rose by around 9.7% to KWD 13.59 million, compared with KWD 12.39 million yesterday.

Trading volumes also went up by 14.6% to 111.6 million shares, compared with 97.36 million on Wednesday.

Eight sector indices rose, led by retail with 1.89%, while the financial services sector index was the only decliner, slipping 0.05%.

Sanam Real Estate was the session’s top gainer, adding 10%, while Umm Al Qaiwain General Investment Company was the biggest losing stock, dropping 8.96%.

The positive performance by the Kuwaiti stock exchange is mainly fueled by the positive financial results, market analyst Mustafa Al-Garhy told Mubasher, noting the breakthrough in trade negotiations between the US and China.

For the general index to close at 5,693.95 points, nearing the 5,700-point level, is a positive signal that will be reinforced in case of an increase above this mark by no less than 30 points next week, he further noted.