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Boursa Kuwait closes Tuesday higher for fourth session in row

Boursa Kuwait closes Tuesday higher for fourth session in row
Traded volume dropped to 242.21 million shares on Tuesday

By: Mohamed Farouk    

Mubasher: The Kuwaiti indices maintained their positive trajectory at Tuesday’s close for the fourth day in a row, as the All-Share and Premier markets increased by 0.99% and 1.17%, respectively, and the BK 50 and Main indices grew by 0.47% and 0.51%, respectively.

Liquidity advanced by 17.6%, reaching KWD 49.55 million today when compared to KWD 42.15 million a day earlier. Traded volume totalled 242.21 million shares, 5.9% less than 257.26 million shares on Monday.

The telecom sector headed 10 risers with 2.33%, followed by the consumer services with 2.15%. No falling sectors were recorded today.

Inovest topped the rising stocks with 10%, whereas Soor Fuel Marketing came on top of the declining stocks with 5.13%.

Kuwait Finance House (KFH) showed the highest turnover of KWD 9.68 million, the stock stabilised at 623 fils.

Ahli United Bank – Bahrain (AUB Bahrain) led the trading activity through the exchange of 41.94 million shares, the stock stabilised at 184 fils.

In this regard, vice president, investment strategy and research at Kamco Invest, Raed Diab, told Mubasher that the Kuwaiti market is still recovering from the low levels it registered last March after several leading stocks had retreated to attractive levels.

Lending further support to this recovery was the recent improvement in oil prices, coupled with the cut in the US oil output in an attempt to curb prices, and expectations of demand recovery as several countries across the globe began easing coronavirus (COVID-19) restrictions and reopening economic activities, he explained.