By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait started Sunday’s trading session in the green zone in line with the rise in the majority of its sectors as well as the registered active transactions, following the positive news of promoting the stock market to an emerging market.
By 9:32am Kuwait time, the benchmark price index gained 0.66% or 44 points to reach 6,732.71 points, the weighted index levelled up 1.41%, and the Kuwait-15 index rose by 1.98%.
Markets that are promoted to enter the FTSE Emerging Markets’ list usually rise within 15% after the upgrade, capital market analyst Ahmad Jassim told Mubasher.
In a year from now, the indices of Boursa Kuwait are expected to target 7,700 points for the price index, 495 points for the weighted index, and 1,150 points for the Kuwait-15 index, he said.
The analyst expected the stock market to be one of the best markets globally in terms of performance.
The oil and gas segment topped gainers with a rise of 1.68%, while the technology and consumer services sectors were the only decliners with a fall of 0.84% and 0.32%, respectively.
Marakez was the top winner with a gain of 12.12%.
Boursa Kuwait’s turnover stood at KWD 13 million after 59 million shares were exchanged through 1,690 transactions.
The Kuwait Finance House (KFH) recorded the highest liquidity of KWD 2.68 million, rising 2%.
Al Imtiaz was the most active stock on which 6.04 million shares were traded, up 1.14%.
