By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait closed Monday in the red for the second session after the market segmentation which took effect on Sunday, 1 April.
The All-Shar Market index fell by 1.42% or 70.5 points to 7,892.87 million. The Main Market index went down 2.08% or 103.7 points to 4,889.67 points, while the Premier Market index retreated by 1.03% or 51.2 points to 4,894.73 points.
Investors are still a bit worried in line with applying the new segmentation system despite the active trades on Monday, capital market analyst Baddar Al Badr told Mubasher.
This cautious performance by the traders may last until the middle of April due to the recent new changes, the analyst added.
Telecom companies led decliners with 3.7%, dragged by Viva and Ooredoo in the Main Market, while Zain in the Premier Market added 0.65%.
Meanwhile, the basic materials segment was the only gainer with 0.06% in line with the 0.13% increase of Boubyan Petrochemical.
Taameer Real Estate was the top winner with a rise of 10.5% to 24.3 fils, while Viva led the losers with a 15.8% decline to 800 fils.
Boursa Kuwait’s trading value grew by 75.7% to KWD 14 million on Monday compared to KWD 7.97 million in the previous session after the trading volume increased by 35.3% to 47.32 million shares from 34.98 million.
The National Bank of Kuwait (NBK) was the most active stock on which 9.61 million shares were exchanged at a value of KWD 6.89 million. The stock fell by 3.5% to 720 fils.
