By: Mohamed Farouk
Mubasher: Boursa Kuwait’s indices rose collectively in Wednesday’s early trades, after the main price index grew 0.15% or 9.5 points, reaching 6,152.52 points, while the weighted and Kuwait-15 indices edged up 0.48%, and 1.27%, respectively.
The level of 6,000 points become important for the Kuwaiti body, especially after its stocks dropped to the prices of December 2016, analyst Ibrahim Al Filkawy said, adding that it may reach 6,200 points.
By 9:30 am Kuwait time, the financial services sector inched up 0.97% after Kuwait Syrian Holding’s stock surged 18.1%.
The real estate sector rose 0.72% after the stocks of Al Mudon International Real Estate, and Taameer Real Estate Investment levelled up 19.7%, and 19.2%, respectively.
On the flipside, the insurance sector declined 3.9% as Gulf Insurance Group’s stock slid 20%.
The telecommunications sector decreased 0.61% after National Mobile Telecommunications (Ooredoo), and Kuwait Telecommunication Co (Viva) stocks went down 3%, and 0.4%, respectively, whereas Mobile Telecommunications Company’s (ZAIN) stock grew 0.5%.
Boursa Kuwait’s trading volume amounted to 22.8 million shares, through 960 transactions, with a liquidity of KWD 5.5 million.
The National Bank of Kuwait’s (NBK) stock, up 1.43%, led in terms of traded value, generating KWD 1.14 million, while the National Industries Group Holding’s (NIG) stock led in terms of trading volume with 4.9 million share, despite dropping 9.6%.
Translated by: Mohamed Hesham Azab
