By: Mohamad Farouk
Mubasher: The benchmark price index retreated by 0.22% or 14.4 points to close Sunday’s session at 6,670.84 points.
Similarly, both the weighted and Kuwait-15 indices dropped 0.31% and 0.33%, respectively.
The stock market needs to exceed the resistance of 6,680 points to confirm positivity, capital market analyst Badr Al Azmy told Mubasher.
Al Azmy noted that Boursa Kuwait seems positive in the medium term.
The benchmark price index is expected to decline to 6,450 points that will be followed by a rise, the analyst said.
Telecom companies led six decliners with 1.71%, dragged by Ooredoo which lost 3.4%.
Meanwhile, the banking sector topped gainers with 0.94% in line with the 6.06% growth of Arzan.
Kuwait Cable Vision led losers with 14.5%, while Kuwait Bahrain International Exchange topped winners with 20%.
Boursa Kuwait’s liquidity decreased by 12.3% to KWD 8.98 million on Sunday compared to KWD 10.24 million in the previous session after the trading volume declined by 6.8% to 71.24 million shares from 76.46 million.
Closing at 588 fils, Kuwait Finance House (KFH) posted the highest liquidity of KWD 2.07 million.
Ithmaar was the most active stock on which 17.6 million shares were exchanged.
