By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait reported a mixed performance in the week ended on 28 December, following two consecutive weeks with a grouped rise.
The price index edged down 0.09% or 5.7 points to close at 6,408.01 points this week from 6,413.72 points in the week ended on 21 December.
Meanwhile, the weighted index added 0.16% or 0.64 points to 401.42 points, and the Kuwait-15 index rose by 0.25% or 2.3 points to 914.87 points.
Technical indicators regarding the stock market’s indices have shown improvement in line with a general rising performance on the medium term, capital market analyst Hassan Al Kandry told Mubasher.
The benchmark price index is being supported at 6,145 points; a key level at which the index turns to negativity, Al Kandry added.
He added that the key resistance level lies at 6,775 points and 6,800 points, respectively.
Boursa Kuwait’s turnover shrank by 19.5% to KWD 39.72 million compared to KWD 49.32 million in the past week.
The trading volume decreased by 7.1% to 299.55 million shares from 322.58 million.
The number of transactions declined by 10.4% to about 12,080 compared to 13,480 a week ago.
In the short term, the price index needs to break the resistance 6,470 points to reach 6,775 points in line with the volatility level of 6,550 points, Al Kandry noted.
