By: Mohamed Farouk
Mubasher: The indices of Boursa Kuwait ended Thursday on a mixed note, as the price index dropped 0.16% or 11.06 points to 6,913.86 points, while the weighted and Kuwait-15 indices rose 0.53% and 1.06%, respectively.
The telecommunications sector led the six gainers, with 0.3%, on the back of Zain’s stock which added 2.5%. The industrial and banks sectors rose 0.07% each, backed by Agility with 2.4% and KFH with 2.15%, respectively.
In terms of stocks, Markaz led risers with 5.9%, while Cable TV led losers, sliding 14.3%.
Turnover rose 61.6% to KWD 42.79 million from KWD 26.48 million, with trading volume increased 52.2% to 169.58 million shares versus 111.41 million shares on Wednesday.
Zain’s stock achieved the highest trading activity with 21.56 million shares traded, at KWD 11.35 million.
Turnover closing near KWD 43 million at the end of the week is a positive indicator of market performance in the coming week, technical analyst Jarrah Al Hindi said.
The rise in major stocks and the decline in trading over the smaller ones caused the rise in the weighted index, as compared to the price index, which is moving sideways, technical analyst Talal Al Yusuf said.
The new trading system increased the turnover for major stocks but it did not help minor ones, Al Yusuf added.
Translated by: Mohammad Shokhba
