By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait started Tuesday’s trading session in decline, dragged by the plunge in the US stock markets as well as digital currencies, metal and goods.
By 9:38am Kuwait time, the benchmark price index went down 1.37% or 92 points to 6,620.44 points, the weighted index retreated 1.24%, and the Kuwait-15 index fell by 1.16%.
Entering a correction phase, Boursa Kuwait was affected by the plunge in the US stock markets on Monday, capital market analyst Talal Al Youssef told Mubasher.
The price index is targeting the level 6,600 points which is a key support level that will prevent further decline, capital market analyst Badar Al Badr told Mubasher.
Oil and gas companies led 11 decliners with 9.82%, dragged by Napesco which lost 20% to be the top loser.
The telecom sector retreated 2.6% in line with the 4.1% decline of Viva.
Hilal Cement was the top winner with a rise of 20%.
Boursa Kuwait’s turnover amounted to KWD 9.4 million after 53.3 million shares were exchanged through 1,730 transactions.
Kuwait Finance House (KFH) posted the highest liquidity of KWD 3.43 million after 5.95 million shares were traded. The stock fell by 1.2%.
