By: Mohamed Farouk
Kuwait – Mubasher: Boursa Kuwait's indices witnessed gains on Monday, in line with higher trading volume and liquidity, in addition to the rise of the banks sector.
The price index of Boursa Kuwait rose 0.19% or 12.8 points to reach 6,913.36 points. The weighted and Kuwait-15 indices grew 0.61% and 0.84%, respectively.
The price index still maintains a positive performance in line with its rise above 6,911 points and approach near 6,920 points, technical analyst Mohamed Al Anzi said, adding that the index sees support at 6,844 and 6,800 points, respectively.
The consumer services sector topped gainers with a 1.8% rise, while the banks sector added 0.72% due to a rise in Ithmar Bank by 3.2%.
On the other hand, the telecom sector was the worst performer, weighed down by Zain which slid 0.4%.
Turnover stood at KWD 122.6 million on Monday, compared to KWD 104.38 million on Sunday. Trading volume reached 21.6 million shares, compared to 13.26 million shares.
Kuwait Finance House was the value leader with a turnover of KWD 2.91 million, while Abyaar Real Estate Development was the most active stock after trading 9 million shares.
Liquidity is growing, helping the market and stocks break above their resistance levels, technical analyst Ahmed Al Mosalam stated.
Translated by: Julian Nabil
