By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait recorded a grouped increase during the three-session week that ended on 1 March; the stock market was closed on Sunday and Monday, 25 and 26 February, on the occasion of the national and liberation holidays.
The benchmark price index gained 0.76% or 51.36 points to close this week at 6,807.9 points.
Similarly, the weighted index levelled up 1.04% or 4.28 points to 414.42 points, and the Kuwait-15 index added 0.92% or 8.71 points to 957.33 points.
The price index is trading in a volatile range toward an upward direction, despite the short-term negative performance, capital market analyst Hassan Al Kandry told Mubasher.
The benchmark index is expected to reach 6,945 points and 7,100 as a first and a second target in line with a support level at 6,530 points and 6,440 points, respectively.
Boursa Kuwait’s turnover shrank by 28.9% to KWD 38.21 million during this week compared to KWD 53.72 million in the prior week.
The trading volume decreased by 26.7% to 226.78 million shares this week from 309.46 million in the past week.
The number of transactions declined by 30% to about 9,220 transactions during this week from nearly 13,180 transactions in the previous week.
Market cap decreased by 0.94% or KWD 260 million ($868.16 million) during this week to total KWD 27.54 billion ($91.96 billion) from KWD 27.8 billion ($92.83 billion) a week ago.
