By: Mohamed Farouk
Mubasher: The indices of Boursa Kuwait closed Monday on a mixed note, amid heavy trades and a cautious mood by investors.
The All-Share and Premier markets shed 0.89% and 1.28%, respectively, while the Main Market index inched up 0.14%.
The mixed performance in the previous sessions reflects that investors are grabbed by the cautious mood, awaiting the firms’ meetings, dividend distributions, and first-quarter earnings statements, capital market analyst Moustafa Al Jarhi told Mubasher.
The bourse’s position on Monday was allowing to achieve a rebound after Kuwait Finance House (KFH) announced its high profits, Al Jarhi added, noting that the decline in blue-chip stocks dragged down Boursa Kuwait at the end of trades.
From a technical perspective, the drop of the Premier Market below 6,200 points stressed the need of heavy liquidity to break it, however, its performance remains positive as long as hovering over the level of 5,800 points.
Liquidity rose 21% to KWD 34.72 million on Monday, from KWD 28.7 million, while trading volume increased by 11.7% to 193.97 million shares, compared to 173.65 million on Sunday.
The financial services sector led fallers with 1.98%, while the consumer goods sector topped risers with 1.22%, and the oil and gas sector levelled up 0.36%.
Mubarrad Holding Co’s stock was the worst performer with 13.64%, while the stock of First Takaful Insurance was the best performer with 9.97%.
KFH’s stock, which dipped 1.87%, led the bourse in terms of trading value with KWD 9.3 million, while Al Madina for Finance and Investment’s stock, which tumbled 6.48%, posted the highest traded volume with 17.09 million shares.
Translated by: Mohammad Hesham Azab
