By: Mohamed Farouk
Mubasher: Boursa Kuwait’s main indices closed Monday’s trading session on a high note, rising collectively for the second straight session, coinciding with increased liquidity and activity in the banking sector.
The price index gained 0.19% or 13.16 points to reach 6,859.27 points, while the weighted and Kuwait-15 indices added 0.53% and 0.71% to close at 424.77 points and 973.39 points, respectively.
Commenting on Boursa Kuwait’s indices' performance on Monday, market analyst Mohamed Al Anzi told Mubasher that the price index had neared its first target at 6,864 points, noting that passing it would enable the index to rise towards 6,880 points.
The weighted index succeeded in passing 423.3 and 424.2 points, while the Kuwait 15 index was able to surpass 969 and 971 points, the analyst added.
A total of seven sectors ended the session at a rise, the most important of which was the banking sector with 0.46%, backed by Kuwait Finance House (KFH), Boubyan Bank, and the National Bank of Kuwait (NBK), which grew 1.61%, 1.44%, and 1.37%, respectively.
The services sector increased 0.23% after Noor led the bourse’s risers, surging 13.6%.
On the other hand, four sectors retreated, led by oil and gas, and basic materials with 0.46% each, while the real estate sector lost 0.24% after Munshaat dropped 3.56%.
Turnover improved by 4.5% to KWD 17.21 million on Monday compared to KWD 16.47 million on Sunday, while traded volume declined 3.7% to 71.37 million shares traded versus 74.12 million.
NBK was the value leader with KWD 3.65 million, while KFH led in terms of volume with 5.77 million shares exchanged.
Market analyst Nawwaf Al Aoun told Mubasher that the Kuwaiti banking sector made up 60% of the bourse’s total turnover, highlighting that the sector will see additional activity in the coming period.
Translated by: Nada Adel Sobhi
