By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait reported a positive performance in a week; the benchmark price index gained 2.34% or 144.8 points to 6,331.72 points in the week ended on 14 December compared to 6,186.94 points in the previous week.
The weighted index also went up 1.51% or 6 points to 399.78, and the Kuwait-15 index added 1.7% or 15.08 points to 910.07 points.
The price index is still trading in an upward range on the medium term, backed by the level 5,950 points, capital market analyst Hassan Al Kandry told Mubasher.
He added that the main index is expected to reach 6,540 points if it breaks the resistance 6,285 points.
Meanwhile, the weighted index needs to break the levels 401 points and 402 points to reach 414 points as the first target and 425 points as the second target, Al Kandry added.
Boursa Kuwait’s liquidity declined by 35.5% to KWD 40.57 points this week compared to KWD 62.89 points in the previous week.
The trading volume decreased by 19.4% to 275.18 million shares from 341.46 million.
Transactions shrank by 23.4% to about 11,790 from nearly 15,400 a week ago.
Market cap grew by 1.5% or KWD 400 million ($1.33 billion) to KWD 27.12 billion ($89.92 billion) this week from KWD 26.72 billion ($88.59 billion) in the prior week.
