By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait closed Tuesday’s trading session in the red zone; the first decline since the beginning of this week.
The benchmark price index retreated 0.13% or 7.8 points to reach 6,214.12 points.
Both the weighted and Kuwait-15 indices dropped 0.66% and 0.87%, respectively.
Boursa Kuwait’s current performance seems stable in line with the anticipation for selective purchasing transactions on blue chips as well as speculative trades on cheap-priced stocks, deputy head of the investment research unit at KAMCO, Raed Diab, told Mubasher.
A positive sentiment was witnessed among investors at Boursa Kuwait after the FTSE Russell index announced that nine Kuwaiti companies are forecast to be listed in this index, Diab added.
Volatility ranging from 6,145 points and 6,313 points for the price index might be seen in the coming period, with expectation for gradual purchases toward the level 6,480 points, the analyst noted.
The real estate segment led seven decliners with 1.3%, dragged by Real Estate Asset Management (REAM) which lost 12%.
Meanwhile, the industrial sector topped four gainers with 1.03%, backed by Nafais Holding which rose by 18.2% to be the top winner.
Boursa Kuwait’s trading value shrank by 30% to KWD 11.45 million on Tuesday from KWD 14.86 million on Monday, after the trading volume decreased by 23.1% to 59.21 million shares from 77 million.
Kuwait Finance House (KFH) posted the highest turnover of KWD 3.36 million, falling 0.7%.
Meanwhile, Ithmaar was the most active stock on which 7.65 million shares were exchanged, rising 0.64%.
