By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait registered a positive performance during the first week of 2018 which included three sessions, from Tuesday to Thursday, due to the New Year’s holiday.
The price index gained 0.72%, or 46.15 points, to 6,454.16 points by the week ended on 4 January 2018 compared to 6,408.01 points by the week ended on 28 December 2017.
The weighted index added 1.91%, or 7.65 points, to 409.07 points, while the Kuwait-15 index levelled up 2.4%, or 22 points, to 936.86 points.
The technical trading of Boursa Kuwait has shown improvement in line with the increase in liquidity at the beginning of 2018, capital market analyst Hassan Al Kandry told Mubasher.
The price index needs to break the levels 6,495 points and 6,500 points in the short term to target 6,810 points, the analyst added.
The price index faces resistance at 6,565 points in the current time, while the second resistance level lies at 6,720 points, Al Kandry noted.
Liquidity increased by 14.7% to KWD 45.55 million this week from KWD 39.72 million a week ago.
The trading volume grew by 8.4% to 324.75 million shares from 299.55 million.
The number of transactions shrank by 11.9% to about 10,6400 from around 12,080 a week ago.
