By: Mohamed Farouk

Mubasher: The Kuwaiti indices closed Wednesday’s trading session up, registering the highest trading volume in six months, amid the fourth largest liquidity in 2020 so far.   

The All-Share Market rose by 0.46% to settle at 6,344.69 points, followed by the Main and Premier indices with 0.35% and 0.49%, respectively.

The market’s turnover amounted to KWD 58.24 million on Wednesday, up by 34.5% from KWD 43.29 million a day earlier.

Furthermore, the trading volume increased by 42.7% to 445.77 million shares from 312.34 million.

The industrial segment led seven winners with 1.5%, whereas the oil and gas instrument headed three losers with 0.64%.

Moreover, Amar for Finance and Leasing came on top of the gainers with 17.85%, whereas Abyaar Real Estate Development topped the decliners with 10.53%.

Kuwait Finance House (KFH) achieved the highest turnover of KWD 10.19 million, the stock was up 1.34%, while First Investment Company led the trading activity through the exchange of 87.46 million shares, the stock was up 10.27% and closed at 40.8 fils.   

Boursa Kuwait has rebounded on Wednesday, impacted by the status quo in global markets due to the growing concerns over the new coronavirus outbreak, vice president, investment strategy and research at Kamco Invest, Raed Diab, told Mubasher. 

Technically, the All-Share Index needs to exceed the last resistance level of 6,416 points, the analyst revealed, adding that this move could enable the index to positively target the next level of 6,600 before the level of 6,750 points.