By: Mohamed Farouk
Mubasher: Boursa Kuwait ended Tuesday trading session in the red zone, as the All-Share Index closed down 0.41%, while the main and premier indices fell 0.4% and 0.41%, respectively.
Turnovers rose by 7.9% in today’s session, closing at KWD 20.98 million, compared with KWD 19.44 million on Monday.
Traded volumes also increased by 38.1% to 165.34 million shares, up from 119.77 million shares in yesterday’s session.
Deputy head of research in KAMCO Investment, Raed Diab, told Mubasher that the week performance continues as the decline continues for the fifth session in a row, with anticipation for the third quarter (Q3) financial results of many listed companies.
A caution is currently dominating mutual funds and portfolios despite positive indicators for blue-chip stocks, especially within the banking sector, Diab added, noting that the results of the first nine months of the year better those of the same period in 2018.
The analyst further explained that caution is driven by the rise of Kuwait among emerging markets.
As for the sectors’ performance, seven indices ended the day in losses, led by banks with 0.64%, followed by real estate with 0.49%.
On the other hand, the oil and gas sector led the gainers, adding 1.37%.
Sanam Real Estate was the session's top losing stock, dropping 10%, while Burgan for Well Drilling closed the session as the biggest gainer, adding 20.8%.
Kuwait Finance House (KFH) had the biggest traded value with KWD 5.29 million, while Arzan was the most actively traded stock with 51.31 million shares.
