By: Mohamed Farouk
Mubasher: The indices of Boursa Kuwait closed Sunday’s session with a grouped decline; the benchmark price index retreated 1.11%, or 71 points, to 6,342.66 points.
Similarly, both the weighted and Kuwait-15 indices edged down 0.14% and 0.17%, respectively.
Technology companies led seven decliners with 4.03%, followed by the industrial segment which dropped 3.7% in line with the 20% fall of Nafais to head losers.
Meanwhile, oil and gas firms topped three gainers with 1.03%, backed by IPG and PetroGulf which added 3.75% and 2.05%, respectively.
The Boursa Kuwait’s turnover shrank by 20.3% to KWD 8.62 million on Sunday from KWD 10.81 million in the previous session after the trading volume decreased by 24% to 44.1 million shares from 58.01 million.
Closing at 436 fils, Zain recorded the highest trading value of KWD 1.86 million.
National Industries was the most active stock on which 7.9 million shares were traded. The stock went up 1.32%.
It is expected for Boursa Kuwait to register low liquidity during 2018, capital market analyst Ibrahim Al Filkawy told Mubasher.
He noted that the GCC stock markets are also forecast to see a decline in turnover and trading activity in general as many investors have targeted digital currencies; however, companies’ dividends may be a way out for raising liquidity.
