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Boursa Kuwait closes Thursday in green; turnover down 15%

Boursa Kuwait closes Thursday in green; turnover down 15%
The consumer goods sector topped the winners with 1.96%

By: Mohamed Farouk

Mubasher: The indices of Boursa Kuwait rose at the end of Thursday’s trading session, with the All-Share, Main, and Premier markets levelling up by 0.29% each.

The market’s turnover, however, plunged by 14.8% to settle at KWD 31.78 million on Thursday from KWD 37.28 million a day earlier. The trading volume increased by 28.1% to 249.2 million shares from 194.51 million. 

The consumer goods sector topped seven winners with 1.96%, whereas the oil and gas instrument led three losers with 0.9%.

Moreover, First Takaful Insurance headed the risers with 25.93%, whereas Aan Digital Services Co was the top faller with 10.2%.

National Bank of Kuwait (NBK), up 0.58%, logged the highest turnover of KWD 5.3 million where 5.08 million shares were traded through 800 transactions.

Aan Digital led the trading activity through the exchange of 48.79 million shares.

Several factors have backed the Kuwaiti stock market to register a positive performance on Thursday and reverse four days of losses over the week, including optimism over unconfirmed news of a possible vaccination for the China coronavirus, capital market analyst, Dawoud Abdel Ghani, told Mubasher.

Lending further support to the rise, the news about China’s announcement to halve retaliatory tariffs levied on hundreds of US goods worth $75 billion, he revealed.    

The analyst further added that the bourse is likely to rise over the coming week in parallel with the launch of the newly-announced, BK Main 50 Index.