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Boursa Kuwait ends Sunday negative; new index down 0.54%

Boursa Kuwait ends Sunday negative; new index down 0.54%
The consumer goods sector headed six losers with 2%

By: Mohamed Farouk

Mubasher: The Kuwaiti indices were down at Sunday’s close; with the BK Main 50 Index falling by 0.54% or 26.77 points to 4,973.23 points on its first trading day. 

Similarly, the Premier and Main markets declined by 0.36% and 0.39%, respectively, while the All-Share index shed by 0.37% or 23 points to settle at 6,253.29 points.

Turnover shrank by 44.5% to stand at KWD 17.64 million on Sunday from KWD 31.78 million in the previous session. The trading volume, moreover, plunged by 46.5% to reach 133.29 million shares from 249.2 million shares.

The consumer goods sector headed six losers with 2%, whereas the oil and gas segment led four winners with 0.81%.

Mezzan Holding Company came on top of the fallers with 2.46%, whereas Boubyan Petrochemical Company topped the risers with 0.62%.

Ahli United Bank (AUB), up 0.3%, hit the highest turnover of KWD 2.84 million, while Aan Digital Services Co led the trading activity through the exchange of 19.25 million shares, the stock closed at 13.2 fils.

Boursa Kuwait registered low active trading on Sunday as investors anticipate the direction of the new BK Main 50 Index, capital market analyst, Yacoub Al Mashaan, told Mubasher.

This performance is yet logical, positive, and common in the Kuwaiti stock market when launching a new index, he added. 

He further predicted the current performance to continue over the coming sessions this week.