By: Mohamed Farouk
Mubasher: The Boursa Kuwait’s indices extended their gains for the second session running on Thursday, posting their 12th session of gains in November.
The All-Share Market index settled at 5,928.27 points, 0.84% or 49.6 points higher, hovering near the significant threshold of 6000 points.
Moreover, the Main Market and Premier Market indices ended in green, with the former rising by 1.08% or 70 points to 6,519.36 points and the latter edging up by 0.16%.
“The Premier Market index will be within the range from 6,550 to 6,565 points,” technical analyst, Ibrahim Al Felkawy, told Mubasher, adding that the index could either move forward to hit such targets or kick off a correction movement.
Eight sectors saw gains, led by telecommunications, which rose by 1.46%, whereas consumer goods and consumer services sectors retreated by 0.49% and 0.18%, respectively.
The bourse’s liquidity grew by 43.5% to KWD 38.73 million, versus KWD 27 million in the prior session, while the trading volume expanded by 25.2% to 164.81 million shares, from 131.66 million shares.
In terms of individual stocks, Umm Al Qaiwain General Investment Co was the top gainer, as its stocks leapt by 23.08%.
On the other hand, Credit Rating and Collection (Tahssilat) fell by 9.79%.
The stocks of Kuwait Finance House (KFH), which closed 2.53% higher to 729 fils, led the bourse in terms of liquidity with KWD 9.6 million.
Abyaar Real Estate Development recorded the highest trading volume, with a total of 25.35 million shares, exchanged through 162 transactions.
However, the stock declined by 3.33% to 8.7 fils, to become the bourse’s third cheapest stock.
