By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait closed Sunday’s trading session in the red zone, despite the positive performance at opening the session.
The benchmark price index edged down 0.09% or 6.24 points to close at 6,622.3 points, the weighted index retreated 0.25%, and the Kuwait-15 index levelled down 0.24%.
The Gulf market in general, and Boursa Kuwait in particular, witnessed a temporary rebound that was attributed by the performance of the majority of the market’s stocks, capital market analyst Ibrahim Al Filkawy told Mubasher.
The price index is facing resistance at 6,650 points and 6,750 points, respectively, while its support level is at 6,520 points, Al Filkawy added.
The real estate segment led four decliners with a drop of 1.7%, dragged by Real Estate Asset Management (REAM) which lost 20% to be the top loser.
The telecom sector also retreated by 1.1%, dragged by Zain which edged down 0.8%.
Meanwhile, the industrial segment topped seven gainers with 0.5%, backed by Kuwait Company for Process Plant Construction and Contracting (KCPC) which gained 6.45%, followed by National Cleaning which rose 6.12% to close at 52 fils.
Boursa Kuwait’ liquidity decreased by 9.3% to KWD 13.72 million on Sunday compared to KWD 15.12 million in the previous session, after the trading volume grew by 13.7% to 82.44 million shares from 72.53 million.
Zain recorded the highest turnover of KWD 2.32 million.
AUB was the most active stock on which 8.36 million shares were traded, falling 0.95%.
