By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait closed Wednesday’s session with a massive increase; the benchmark price index levelled up 1.61%, or 107 points, to 6,777.38 points, the highest level in five months.
Similarly, both the weighted and Kuwait-15 indices added 0.12% to 409.65 points and 0.29% to 941.79 points, respectively.
The price index has posted a new level that has not been registered since October 2017, deputy head of the investment research unit at KAMCO, Raed Diab, told Mubasher.
Diab noted that the index targets 6,800 points in the coming period before reaching the resistance level at 6,940 points.
Real estate companies topped four gainers with 4.6%, backed by Real Estate Asset Management (REAM) which jumped 20% to be the top winner.
Meanwhile, telecom companies led four decliners with 4.6%, dragged by Aan Digital which lost 2.3% in line with the announcement of its income statements.
Boursa Kuwait’s turnover shrank by 9.8% to KWD 9.91 million on Wednesday compared to KWD 10.98 million in the previous session after 65.35 million shares were traded from 84.79 million on Tuesday.
The National Bank of Kuwait (NBK) posted the highest turnover of KWD 1.48 million.
Ithmaar was the most active stock on which 18.75 million shares were exchanged.
