By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait started Tuesday’s trading session in the red zone; the price index lost 0.46% or 30.6 points to reach 6,618.58 points.
By 9:40am Kuwait time, both the weighted and Kuwait-15 indices retreated 0.77% and 0.80%, respectively.
The benchmark price index has a resistance level at 6,674 points, of which breaking will lead to 6,695 points and 6,720 points, respectively, capital market analyst Nawaf Al Oun told Mubasher.
The analyst clarified that the support level of the price index lies at 6,640 points, 6,618 points, and 6,594 points.
The telecom segment led decliners with 2.3%, dragged by the leading stock Zain which dropped 3.2%, following the news on the exit of Al Kharafi Group as well as selling towers in Kuwait.
The banks sector retreated 0.5%, in line with the decline of eight stocks, led by Gulf Bank of Kuwait (GBK) which dropped 1.5%.
Boursa Kuwait has not reported any gainers until that time.
Wethaq Takaful was the top loser with a fall of 10.9%, while Injazzat Real Estate headed winners with a gain of 7.4%.
Boursa Kuwait’s liquidity stood at KWD 7.3 million after 37.4 million shares were traded through 1,275 transactions.
Zain was the most active stock on which 6.5 million shares were exchanged through 382 deals at a total value of KWD 3.4 million.
