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Boursa Kuwait’s indices close Monday collectively high

Boursa Kuwait’s indices close Monday collectively high
The technology sector topped seven gainers

By: Mohamed Farouk

Mubasher: The indices of Boursa Kuwait ended Monday trading session collectively high with a significant improvement in trading volume and turnover.

The All-Share Index increased by 0.38% or 23.75 points to 6,271.39 points, while the Main and Premier markets inched up by 0.01% and 0.51%, respectively.

Meanwhile, liquidity jumped by 79.5% to KWD 36.1 million from KWD 20.14 million on Sunday, 29 December, while the trading volume was 33.5% higher to 167.53 million shares from 125.51 million in the previous session.

The technology sector topped seven gainers with around 10%, while the oil and gas segment led the decliners with around 0.89%.

Automated Systems came on top of the green zone with 9.94%, while Sharjah Cement and Industrial Development Co led the red zone with around 9.32%.

Ahli United Bank – Bahrain (AUB), the dual-listed bank on Bourse Kuwait and Bahrain Bourse (BHB), up 2.23%, recorded the highest trading volume of 19.39 million shares at a value of KWD 6.16 million.

Capital market analyst, Murad Al Damaghi, told Mubasher that Boursa Kuwait witnessed a momentum in the trading on AUB, which was the most active stock, following the announcement of Kuwait Finance House (KFH) regarding the shareholders’ meeting to issue a resolution in the acquisition of AUB.

Over the past two years, investors have been awaiting the completion of the takeover deal between KFH and AUB; therefore, whenever there is a step taken towards the acquisition process, the market revives, the analyst added.