By: Mohamed Farouk
Mubasher: The indices of Boursa Kuwait closed Tuesday’s trading session in the green territory.
The Premier Market index climbed by 5.11%, while the Main, BK 50, and All-Share indices increased by 1.84%, 2.55%, and 4.17%, respectively.
In the meantime, the turnover surged by 25.5% to reach KWD 64.02 million, compared with KWD 51 million yesterday. Trading volume amounted to 253.54 million shares up by 47.6% from 171.83 million.
The telecom sector came on top of 11 rising sectors with 6%, followed by banks with 4.9%. No market sectors registered a decline on Tuesday.
Warba Insurance topped the winners with 23.88%, whereas Jiyad Holding led the losers with 18.29%.
Kuwait Finance House (KFH) posted the largest turnover of KWD 16.44 million, the stock closed up 6.6%.
Investors Holding led the trading activity through the exchange of 34.19 million shares, the stock surged 11.63%.
In this regard, vice president, investment strategy and research at Kamco Invest, Raed Diab, told Mubasher that Boursa Kuwait’s positive momentum continued for the third consecutive session as stocks, including blue chips, reached attractive levels after registering severe losses since the beginning of March.
Lending further support to this was the drop in the number of new coronavirus (COVID-19) cases in the Gulf country over the past two days, not to mention the government’s new directives taken to combat the pandemic, including the partial curfew, Diab explained.
In addition, the new relief package that is expected to be launched by the government to support many coronavirus-affected sectors is foreseen to boost the Kuwaiti stock exchange, he concluded.
