By: Mohamed Farouk
Mubasher: The indices of Boursa Kuwait started Tuesday’s early trading session with a massive growth after the All-Share Market index inched up 0.1%, followed by the Premier Market and Main markets with 0.08% and 0.13%, respectively.
By 9:25 am Kuwait time, the consumer services sector led risers with 0.75%, while the telecommunications sector shed 0.32%.
Kuwait Foundry’s stock topped gainers with 9.25%, while the stock of Al Massaleh Real Estate was the worst performer after losing 6.67%.
The bourse’s trading volume reached 11.4 million shares exchanged through 500 transactions with a turnover of KWD 1.7 million.
The National Bank of Kuwait’s (NBK) stock, which added 0.11%, led the bourse in terms of traded value with KWD 393,300, while Mashaer Holding Co’s stock, up 2.84%, topped in terms of trading volume via 2.16 million exchanged shares.
Profit-taking seen by the Kuwaiti bourse on Monday was expected, especially after most of the indices levelled up since the beginning of 2019, capital market analyst Badar Al Badr told Mubasher.
The rise of blue-chip stocks, especially the heavyweight NBK’s stock is forecast to boost Boursa Kuwait during Tuesday, analyst Mostafa Al-Garhy stated.
Capital market analyst Yacoub Al Mashaan expected that the bourse will continue its rising trend on Tuesday, while it may continue until the end of week, boosted by the companies’ annual earnings reports.
Translated by: Mohammad Hesham Azab
