By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait closed Sunday, the first session after entering the FTSE Emerging Markets’ list, with a mixed performance.
The benchmark price index retreated 0.12% or 8.1 points to close the session at 6,671.63 points.
Meanwhile, the weighted index gained 1.03% or 4.44 points to 435.14 points, and the Kuwait-15 index went up 1.9% or 18.6 points to close at 1,015.97 points.
The Kuwait-15 index started Sunday’s session positively with a purchasing trend that boosted it to break the resistance of 1,007 points, capital market analyst Nawaf Al Oun told Mubasher
He noted that the Kuwait-15 index needs resistance at 1,030 points, which can be an early indicator for a continuous rise, targeting 1,060 points with a peak level at 1,040 points.
The weighted index also succeeded to break the resistance of 435 points; this index needs to break the next resistance at 443 points to be an early indicator for an upward performance to reach 460 points, as long as the index remains above 435 points, Al Oun added.
The banks segment topped five gainers with a growth of 1.17%, backed by the rise of ten stocks, led by the National Bank of Kuwait (NBK), Boubyan Bank, and the Kuwait Finance House (KFH) which rose by 3.3%, 2.95%, and 2%, respectively.
Meanwhile, the industrial sector led four decliners with 1.61%, dragged by Nafais which lost 20% to be the top loser.
Boursa Kuwait’s turnover increased by 79.2% to KWD 33.17 million on Sunday compared to KWD 18.51 million in the previous session, after the trading volume grew by 87.7% to 156.13 million shares from 83.2 million.
KFH recorded the highest trading value of KWD 6.4 million.
Al Imtiaz was the most active stock on which 12.58 million shares were exchanged, closing at 176 fils.
