By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait closed Wednesday’s trading session with a mixed performance; the price index went up 0.25% or 16.25 points to 6,530.08 points.
Meanwhile, both the weighted and Kuwait-15 indices retreated 0.15% and 0.13%, respectively.
The stock market witnessed a revive on Wednesday after a series of selling transactions in the past sessions; however, it is still early to expect the end of such decline in Boursa Kuwait, deputy head of the investment research unit at KAMCO Raed Diab told Mubasher.
Volatility in the market is expected to continue until strong catalysts emerge in order to perform collection transactions on blue chips, Diab added.
Diab added that if the main index retreated to the low level of 6,480 points, this will lead to a further decline toward 6,400 points and 6,350 points.
The real estate segment topped five gainers with 1.3%, backed by REAM which jumped 20% to be the top winner.
Meanwhile, the oil and gas sector led five decliners with 0.43%, dragged by Burgan Drilling which fell by 6.15%.
Boursa Kuwait’s turnover shrank by 35.6% to KWD 13.77 million on Wednesday compared to KWD 21.37 million on Tuesday.
The trading volume decreased by 25.3% to 67.12 million shares compared to 89.89 million.
Zain posted the highest liquidity of KWD 3.34 million, rising 0.86%.
Al Imtiaz was the most active stock on which 11.73 million shares were exchanged, up 1.81%.
