By: Mahmoud Gamal
Kuwait-Mubasher: The benchmark index of Kuwait Stock Exchange (KSE) ended Monday’s session falling by 0.17% or 9.1 points to close at 5,380.45 points.
The weighted index rose by 0.59% or 2.05 points to reach 351.01 points. Kuwiat-15 index gained 0.88% or 7 points to reach 806.55 points.
Stability was regained in Turkey after the coup attempt has failed, pushing Kuwait Finance House’s stock to rise, since the bank has investments in Turkey. Thus, the weighted index closed in green, said gulf capital market analyst Mohamad Al-Shimiry.
The blue chips, including NBK and KIB, which recently announced their financials helped in pushing the Kuwaiti bourse to close in the green zone, the analyst added.
On the stocks’ level, KFH rose by 2.25%, KIB levelled up by 2.15%, while Agility and NBK gained 2.13% and 1.72% respectively. Meanwhile, Zain remained unchanged despite the company’s confirmation of notifying the Egyptian government about the 4G license.
The majority of penny stocks saw pressure due to the speculative activity performed by small speculators, not leading investment portfolios nor funds, Al-Shimiry said, adding that the market is still positive as KSE’s price index has maintained its support level at 5,375 and 5,350 points.
Meanwhile, United Real Estates led the losers by a fall of 7.3%.
KSE’s liquidity shrank by 15% to KWD 8.45 million, while trading volume increased by 21.3% to 71.01 million shares.
Translated by: Ingy ElSafy
