By: Mohamed Farouk
Mubasher: Boursa Kuwait finished Monday’s trading session with negative performance, dragged down by speculations on blue-chip stocks listed on the Premier Market index.
The All-Share Market index shed 14.18 points, or 0.24%, to 5,781.69 points, followed by the Premier Market index which fell 0.34%, while the Main Market index ended near stable.
If the All-Share Market index breaks the resistance level of 5,800 points, it will target the level of 6,000 points or drops to the support level of 5,550 points, technical analyst Ibrahim Al Filkawy told Mubasher.
While the Premier Market index targets resistance at 6,300 and 6,350 points, and in case of surpassing it will hit 6,600 points, Al Filkawy added.
The analyst further noted that if the Main Market index surpasses the resistance level of 4,980 points, it will eye the level of 5,000 and 5,040 points.
The technology sector led gainers with 1.41%, while the insurance sector was the worst performer with 2.17%.
Tamdeen Investment’s stock led losers with 8.28%, while the stock of Kuwait Portland Cement topped risers with 8.48%.
Liquidity jumped 17% to KWD 50.04 million on Monday, from KWD 42.78 million, while traded volume rose 22.6%, reaching 218.97 million shares, compared to 178.61 million on Sunday.
Kuwait Finance House’s (KFH) stock, which fell 1.31%, led the bourse in terms of trading value with KWD 8.38 million, while the stock of National Industries Group Holding generated the highest traded volume with 31.65 million shares.
Translated by: Mohammad Hesham Azab
