By: Mohamed Farouk
Mubasher: The price index of Boursa Kuwait gained 1.62% or 108.35 points to reach 6,788.48 points in the week ended on 13 July, compared to 6,680.13 points in the week ended on 6 July.
Both the weighted and Kuwait-15 indices went up 1.89% and 1.65%, respectively.
If the benchmark index succeeds in breaking the resistance level of 6,900 points, the market is expected to rise and target the 7,065-point level, with a volatility level of 6,945 points, technical capital market analyst Hassan Al Kandry said.
The index’s next target is 7,160 points, with a support level of 6,550 points, which if broken, will fall to 6,315 and 6,250 points, respectively, the analyst added.
The market’s trading value grew 28.6% to total KWD 59.66 million this week from KWD 46.38 million in the previous week.
Boursa Kuwait’s trading volume increased 60.5% to 388.92 million shares this week from 242.37 million.
The transactions rose by 25.5% to about 15,180 from nearly 12,100.
Boursa Kuwait’s market cap gained KWD 491 million ($1.62 billion) in a week to total KWD 27.584 billion ($90.83 billion) from KWD 27.093 billion ($89.21 billion), according to a recent report.
