By: Mohamed Farouk
Mubasher: Boursa Kuwait’s indices registered a collective rise in January 2019, with the All-Share index jumping 126.4 points, or 2.5%, to 5,205.99 points from 5079.56 points at the end of December 2018.
The Main Market index went up 59.5 points, or 1.26%, to close at 4,798.05 points at the end of January, against 4,738.56 points last month.
Meanwhile, the Premier Market index advanced 162.7 points, or 3.1%, to close at 5,430.1 points in the current month, compared to 5,267.36 points in December.
Boursa Kuwait’s trading volume surged 59.2% to 3.96 billion shares in the first month of 2019, against 2.49 billion in December, while turnover rose 6.2% to KWD 610.46 million from KWD 574.61 million.
The number of transactions grew by 21.2% to about 123,080 from nearly 101,550 in the final month of 2018.
Weekly performance
During the week ended Thursday, 31 January 2019, Boursa Kuwait’s indices closed on a varied note, with the Main Market index rising 0.32%, while the All-Share and Premier Market indices retreated 0.68% and 1.15%, respectively.
Boursa Kuwait’s trading volume grew 61.6% to 1.01 billion shares this week, from 625.4 million in the week ended 24 January, while turnover increased 37.6% to KWD 156.81 million, against KWD 114.01 million last week.
The number of transactions surged 34% to about 28,550 deals, compared to around 21,310 deals in the prior week.
Technical analysis
Boursa Kuwait’s All-Share index was still moving within a positive trend on the short term, after retesting resistance at 5,175 points, technical analyst Hassan Al-Kandari told Mubasher.
Al-Kandari expected the All-Share index to target resistance at 5,300 points as a first target after breaking resistance at 5,260 points, noting that the second resistance level would be at 5,330 points after the index set a second target at 5,390 points.
Translated by: Zeinab Adel
