By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait closed Tuesday’s trading session in decline for the second session in a row; the benchmark price index went down 0.28% or 19 points to 6,705.69 points.
Similarly, both the weighted and Kuwait-15 indices edged down 0.5% and 0.6%, respectively.
The price index needs to close above the resistance 6,833 points to eliminate the decline and predict a rise towards the resistance 6,940 points and 7,000 points, deputy head of the investment research unit at KAMCO, Raed Diab, told Mubasher.
Selling transactions may increase if the main index breaks the support level 6,530 points.
Technology companies led nine decliners with 2.5%, followed by the oil and gas segment which went down 1.12% in line with the 2.5% decline of PetroGulf.
Meanwhile, the consumer services and real estate segments were the only gainers with 0.45% and 0.09%, respectively.
Specialities Group Holding led losers with 19.12%, while Amar for Finance headed the winners with 20%.
Boursa Kuwait’s trading value decreased by 12.4% to KWD 8.87 million on Tuesday compared to KWD 10.12 million in the previous session after the trading volume shrank by 19.5% to 43.1 million shares from 53.55 million.
Agility posted the highest trading value of KWD 1.16 million. The stock fell by 0.72%.
Falling by 2.53%, Logistics was the most active stock on which 2.68 million shares were exchanged.
