By: Mohamed Farouk
Mubasher: The indices of Boursa Kuwait ended Thursday’s trading session on negative note.
The All-Share Market index fell 49.91 points, or 0.85%, to 5,803.2 points, while the Main and Premier markets shed 0.51% and 0.98%, respectively.
Thursday’s downward performance was attributed to the profit-taking trend after a wave of hikes seen over the previous sessions, technical analyst Yassien Al Zaini told Mubasher.
The companies’ announcements of financial results are expected to boost the market’s performance over the coming period, Al Zaini added.
From a technical perspective, the stability of the All-Share Market index above the main support level of 5,800 points is a positive factor, while the Premier Market index also stabilised above its support level of 6,300 points.
Boursa Kuwait’s liquidity declined 8.2% to KWD 30.95 million from KWD 33.73 million, whereas trading volume increased by 13.7% to 128.93 million shares, compared to 113.36 million on Wednesday.
The technology sector led the losers with 2.19%, whereas the consumer goods and insurance sectors levelled up 1.94%, and 1.03%, respectively.
Kuwait and Middle East Financial Investment (KMEFIC) was the worst performer with 10.34%, whereas United Projects Company for Aviation Services (UPAC) topped the winners with 10%.
Kuwait Finance House (KFH), which fell 1.3%, led the bourse in terms of liquidity with KWD 6.22 million, whereas National Industries Group Holding, which went up 0.42%, generated the highest traded volume after 17.4 million shares were exchanged.
Translated by: Mohammad Hesham Azab
