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Boursa Kuwait rises in week amid lower liquidity

Boursa Kuwait rises in week amid lower liquidity
The number of transactions reached 36,090 this week

By: Mohamed Farouk

Mubasher: The indices of Boursa Kuwait ended the third week of December collectively high, amid a decline in trading activities.

The All-Share Index closed at 6,244.16 points, up by 49 points or 0.79%, compared to 6,195.18 points at the end of last week.

The Premier Market Index rose by 0.81% or 56 points to 6,926.21 points from 6,870.3 points.

Meanwhile, the Main Market index increased by 0.72% or more than 35 points to 4,895.93 points from 4,860.84 points a week earlier.

The weekly liquidity shrank by 11.6%, settling at KWD 183.24 million from KWD 207.3 million, while the trading volume slightly decreased by nearly 1%, reaching 812.66 million shares from 820.61 million.

The number of transactions reached 36,090 this week, down by 5.2% from 38,080.

Capital market analyst Hassan Al Kandari told Mubasher that the All-Share Index has a first target level of 6,330 points, while its second target level lies at 6,410 after exceeding the level of 6,370 points.

As for the support level, Al Kandari said that if the All-Share Index fell to form correction movement, the support levels would be at 6,165 points, 6,030 points and 5,950 points, respectively.