By: Mohamed Farouk
Mubasher: The indices of Boursa Kuwait declined by the closing of Monday’s session, affected by selling transactions on blue chips and small caps for profit- taking.
The benchmark price index edged down 0.1%, or 6.5 points, to 6,498.49 points, the weighted index retreated 0.38%, and the Kuwait-15 index lost 0.36%.
The indices are still trading positively despite the normal decline on Monday due to a series of rises in the past three sessions, capital market analyst Badar Al Badr told Mubasher.
Boursa Kuwait’s indices are expected to regain their positive rebound in the remaining sessions of this week, the analyst added.
The price index has support levels at 6,400 points and 6,450 points, while its resistance lies at 6,540 points and 6,580 points, respectively, he added.
Insurance companies led five decliners with 4.8%, dragged by Gulf Insurance which lost 19.8% to be the top loser.
Meanwhile, the technology segment topped six gainers with 2.9%.
Boursa Kuwait’s turnover shrank by 20.6% to KWD 13.85 million on Monday compared to KWD 17.44 million on Sunday after the trading volume decreased by 17.4% to 107.87 million shares from 131.14 million.
Kuwait Finance House (KFH) posted the highest liquidity of KWD 2.72 million, closing at 599 fils.
Ajwan was the most active stock on which 16.57 million shares were exchanged.
