By: Mohamed Farouk
Mubasher: Boursa Kuwait indices closed Wednesday in the green after its main price index added 1.4%, or 88.6 points, to 6,401.08 points, while the weighted and Kuwait-15 rose 1.63% and 2.14%, respectively.
The price index rebound, which is above 6,400 points, is positive trend amid strong trading activities, and the index targets 6,410 points in case trades are increased, capital market analyst Badar Al Badr said.
The rise in trading on leading stocks, especially banks’ stocks, is plausible amid forecasts of positive results in the banking sector, Al Badr added.
The leading and operating stocks impacted positively on the weighted and Kuwait-15 indices as they surpassed strong levels on Wednesday, the weighted index targets 945 points, while the Kuwait-15 index aims to hit 415 points.
The industrials sector rose 4.44% as Nafais Holding’s stock jumped 19.9%.
On the other hand, the insurance sector fell 2.9% after Wethaq Takaful Insurance’s slid 20%.
The bourse’s traded volume levelled up 97% to 116.94 million shares on Wednesday against 59.24 million on Tuesday, while liquidity soared 251% to KWD 19.62 million, from KWD 5.59 million.
Mobile Telecommunications’ (Zain) stock, up 5.5%, was the most active in terms of trading value with KWD 3.25 million, while Ithmaar Holding’s stock, up 4.13%, led the market in terms of traded volume after 27.71 million shares were exchanged.
Translated by: Mohamed Hesham Azab
