By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait closed Wednesday’s trading session higher for the second session in a row.
The benchmark price index edged up 0.1% or 6.24 points to reach 6,525.23 points, the weighted index went up 0.44%, and the Kuwait-15 index gained 0.72%.
Boursa Kuwait remained in the positive zone in line with the investors’ anticipation for the financials disclosures for fiscal year 2017, deputy head of investment research Raed Diab told Mubasher.
Banks are forecast to record positive results following the decline in the first half of 2017, Diab added.
If the price index exceeds the resistance of 6,560 points, the index is forecast to head to 6,660 points, the analyst noted.
The banking segment topped six gainers with 1.06%, backed by Ithmaar which went up 5%.
Meanwhile, the consumer services sector led five decliners with 0.8%, dragged by IFA Hotels which dropped 8.65%.
Amwal International topped winners with 17.6%, while Wethaq led losers with 17%.
Boursa Kuwait’s turnover increased by 1.9% to KWD 12.14 million on Wednesday compared to KWD 11.91 million on Tuesday after the trading volume grew by 20.6% to 104.76 million shares from 86.87 million.
The National Bank of Kuwait (NBK) recorded the highest liquidity of KWD 1.5 million.
Ithmaar was the most active stock on which 24.88 million shares were exchanged.
