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Kuwaiti indices continue up for 6th session in row on Sunday

Kuwaiti indices continue up for 6th session in row on Sunday
The bourse’s turnover plunged by 36%

By: Mohamed Farouk

 Mubasher: The All-Share Index of Boursa Kuwait ended Sunday’ trading session up by 0.3% at the level of 5,785.36 points after earning 17.59 points, while the main and premiere markets inched up by 0.02% and 0.41%, respectively.

The bourse’s turnover plunged by 36% at KWD 17 million when compared to KWD 26.57 million in the previous session, while the trading volume soared by 3.6% to 160.85 million shares from 155.23 million.

The technology sector was the top riser with 9.23%, while the oil and gas sector was the top faller with 2.54%.

Kuwait Finance and Investment (KFIC) came on top of the gainers with 9.94%, whereas Al Masaken International Real Estate Development led the losers with 14.46%.

The National Bank of Kuwait (NBK) saw the highest liquidity of KWD 2.27 million, the stock was up 0.41%, while Gulf Petroleum Investment (PetroGulf) led the trading activity with 23.77 million shares at a value of KWD 478,580 approximately, the stock went up 5.67%.

The bourse's continued positive performance on Sunday will back the next four sessions, capital market analyst, Emad Nouri, told Mubasher.

Nearly 49% of the bourse’s liquidity has remarkably centered around the Main Market amid modest turnover when compared to last week's results, he added. 

The All-Share Index is currently facing a first resistance level at 5,800 points, which if succeeded to exceed, the index will face the resistance levels of 5,815 points, 5,833 points, and 5,852 points, respectively, while the main support level will remain at 5,750 points, the analyst expected.  

Translated by:

Amal A. Wahaab