By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait closed Tuesday’s trading session with a positive performance for the second session in a week.
The All-Share Market index edged up by 0.09% or 4.3 points to close at 4,864.06 points, the Main Market index added 0.03% or 1.5 points to 4,864.06 points, and the Premier Market index rose by 0.12% or 6 points to 4,789.32 points.
Despite the recovery of the All-Share Market index in the past period, Boursa Kuwait still needs more liquidity and investment that declined after the recent market segmentation, the deputy head of the investment research unit at KAMCO, Raed Diab, told Mubasher.
The stock exchange still has a positive outlook due to the good dividends registered for fiscal year 2017, Diab said, adding that it is expected that more liquidity will focus on blue chips, especially after the listing in FTSE Emerging Market.
The oil and gas segment topped six gainers with 1.8%, backed by Energy House and PetroGulf with 18.9% and 5.5%, respectively.
Meanwhile, telecom companies led four decliners with 0.68%, dragged by Ooredoo and Aan Digital with 4.6% and 3.8%, respectively.
Boursa Kuwait’s trading value increased by 13.7% to KWD 10.53 million on Tuesday compared to KWD 9.26 million in the previous session after the trading volume grew by 3.2% to 72.21 million shares from 69.95 million.
Kuwait Finance House (KFH) posted the highest liquidity of KWD 2.21 million. The stock added 0.2%, while Al Mal was the most active stock on which 9.13 million shares were exchanged.
