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Boursa Kuwait posts first rise in week on Tuesday

Boursa Kuwait posts first rise in week on Tuesday
The turnover dropped by 1.2% daily on Tuesday

By: Mohamed Farouk 

Mubasher: The Kuwaiti indices closed Tuesday’s trading session on a collective rise for the first time this week.

The All-Share and the Premier market indices settled higher by 1.35% and 1.76%, respectively, while the Main and the BK 50 indices levelled up by 0.3% and 0.46%, respectively.  

The turnover was down by 1.2% daily on Tuesday, standing at KWD 24.65 million when compared to KWD 24.95 million. The trading volume jumped by 23.8% to 118.7 million shares from 95.9 million.

The telecom segment came on top of eight risers with 2.18%, whereas the consumer services and the oil and gas instruments went down by 1.77% and 4.89%, respectively.

Mashaer Holding Co. led the green zone with 9.94%, whereas Future Kid Entertainment and Real Estate Company headed the red zone with 14.07%.

The National Bank of Kuwait (NBK) logged the largest turnover of KWD 4.34 million, before closing up 3.08%.

Ahli United Bank – Bahrain (AUB Bahrain) led the trading activity through the exchange of 21.87 million shares, the stock stabilised at 194 fils.

Commenting on Tuesday’s performance, vice president, investment strategy and research at Kamco Invest, Raed Diab, told Mubasher that Boursa Kuwait managed to offset part of the losses incurred over the previous two sessions today, with investors continuing to seize attractive opportunities.

The local scene is seen stable at the moment while amidst the coronavirus (COVID-19) impact on business activity, he added.

He further predicted the market to continue volatile with an upward tendency for the coming period, backed by the gradual reopening of the economy.

Translated by: Amal A. Wahaab