By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait rose collectively early Thursday, as Al Khair National for Stocks and Real Estate Company signed an agreement to sell its stake in Zain to Oman Telecommunications (Omantel).
By 9:37 am Kuwait time, the price index edged up 0.16% or 10.5 points to 6,632.94 points.
Meanwhile, both the weighted and Kuwait-15 indices added 0.01% and 0.14%, respectively.
The price index may test resistance at 6,755 points and 6,800 points, in case it surpassed 6,657 points, capital market analyst Nawaf Al Oun told Mubasher.
Breaking above 6,657 points and rebounding from current levels will require a leap in liquidity, Al Oun added, pointing out that it may occur with an active leading stock such as Zain.
The financial services sector topped gainers with 0.7% on the back of Credit Rating and Collection (Tahssilat), which rose 16%.
Likewise, the real estate sector inched up by 0.27%, bolstered by Real Estate Trade Centers (Marakez), Taameer Real Estate Investment, and Abyaar Real Estate Development, which gained 8.6%, 2.1%, and 1.7%, respectively.
On the other hand, the oil and gas segment fell 1.22%, pressured by Senergy, which declined 3%.
Similarly, the communication sector dropped 1.17%, ignoring the leading stock of the market and the sector Zain, which grew 0.78%.
Trading volume reached 16.8 million shares exchange through 720 transactions at a liquidity of KWD 4.4 million.
Zain was the most active stock on which 4.01 million shares were exchanged at a value of KWD 2.08 million through 220 transactions.
Translated by: Mai Ezz El-Din
