By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait closed Thursday’s trading session with a mixed performance; the benchmark price index went up 0.52% or 35.07 points to 6,807.9 points.
The weighted index added 0.11%, while the Kuwait-15 index retreated by 0.07%.
Thursday’s session registered a positive performance despite the decline when opening the session; this turn is attributed to the stock of KGL of which subsidiary was awarded a contract with the U.S. army, capital market analyst Yacoub Al Mashaan told Mubasher.
The analyst added that the first sessions of the month register a downward following the monthly closings, but the news about the KGL’s subsidiary contributed in improving the performance of the stock market.
The resistance facing the price index is ranging from 6,830 points to 6,850 points; the index will remain positive if it closes above this resistance on Sunday and Monday, Al Mashaan.
The industrial segment topped six gainers with 1.7%, backed by KGL which grew 19.23% to be the top winner.
Meanwhile, telecom companies led four decliners with 2.8%, dragged by Aan Digital and Viva which lost 4.05% and 4%, respectively.
Boursa Kuwait’s turnover shrank by 9.1% to KWD 11.17 million on Thursday compared to KWD 12.29 million in the previous session.
The trading volume increased by 21.2% to 81.34 million shares from 67.13 million.
The National Bank of Kuwait (NBK) recorded the highest liquidity of KWD 2.42 million, the stock levelled up 0.13%.
KGL Logistics was the most active stock on which 21.79 million shares were traded. The stock gained 6.75%.
