By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait on Wednesday posted their first grouped increase in February; the benchmark price index went up 0.51% or 33.7 points to close the session at 6,657.85 points.
Similarly, both the weighted and Kuwait-15 indices added 0.56% and 1.18%, respectively.
The positive performance registered in global markets on Tuesday’s session has influenced the majority of the Gulf markets, namely Boursa Kuwait, capital market analyst MoustaAl Jarhy told Mubasher.
As companies continue to disclose the income statements of fiscal year 2017, investors’ sentiments will be positive and reflect on transactions if the financials are positive, the analyst added.
Real estate companies topped six gainers with 1.2%, backed by Aqar Real Estate which leaped by 19.85% to be the top winner.
The financial services sector went up 1% in line with the rise of Kuwait Syrian, Al Deera, and Al Madina with 8%, 7.31%, and 5.7%, respectively.
Meanwhile, the consumer services segment led five decliners with 0.67%, dragged by IFA Hotels which lost 10.5% to be the top loser.
Boursa Kuwait’s turnover shrank by 8.2% to KWD 17.52 million on Wednesday compared to KWD 19.09 million in the previous session after the trading volume decreased by 13.3% to 111.32 million shares from 128.33 million.
The National Bank of Kuwait (NBK) recorded the highest liquidity of KWD 2.77 million. The stock rose by 1.78%.
Falling by 2.23%, Ithmaar was the most active stock on which 16.4 million shares were exchanged.
