By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait closed Tuesday’s trading session in the green zone; the price index went up 0.19% or 12.34 points to close at 6,648.3 points.
Similarly, both the weighted and Kuwait-15 indices gained 0.06% and 0.13%, respectively.
The volatility in Boursa Kuwait is attributed to speculative transactions on small caps as well as active trading on blue chips, namely in the banks segment in line with the positive financial results that have been disclosed so far, the deputy head of the investment research unit at KAMCO, Raed Diab told Mubasher.
The awaited financial results are likely the single motivation existing in the stock market to direct Boursa Kuwait in the coming period, Diab added.
At the benchmark’s level, Diab noted that the price index has seemingly settled in line with the decline in the negative performance in the past days. The index is expected to break the first resistance at 6,700 points, while it will target 6,740 points and 6,810 points, respectively.
The real estate segment topped seven gainers with a rise of 0.8%, backed by Munshaat which went up 7.31% to be the top winner.
The banks sector edged up 0.2%, backed by Boubyan Bank which added 1.5%.
Meanwhile, the consumer services segment led four decliners with 0.58%, dragged by Future Kid Entertainment which lost 9.8%.
The telecom sector retreated 0.52% in line with the fall of Aan and Viva which lost 2.74% and 0.38%, respectively.
Boursa Kuwait’s turnover increased by 18.5% to total KWD 80.56 million on Monday compared to KWD 67.97 million in the previous session, while the trading volume decreased by 29.2% to 12.04 million shares from 17 million.
Zain recorded the highest turnover of KWD 1.42 million.
