By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait closed Tuesday’s session in a mixed performance for the third session in a row.
The benchmark price index gained 0.79% or 50.4 points to close at 6,420.64 points.
Meanwhile, the weighted index lost 0.16% to reach 339.13 points, and the Kuwait-15 retreated 0.17% to 906.58 points.
Boursa Kuwait is witnessing strong speculations on stocks, mainly those that are not traded actively in line with the lack of catalysts, deputy head of the research unit at KAMCO, Raed Diab, told Mubasher.
He added that some of the blue chips declined on Tuesday; Zain faced selling pressures as its auction will be held on Sunday to offer 11 million of its shares for sale in favour of the justice ministry.
The price index has a support at 6,185 points; the index has to exceed 6,405 points level to reach a positive level of 6,480 points, Diab added.
The industrial segment topped six gainers with 2.7%, backed by National Shooting Co. which added 19%.
Telecom companies went up 1.4%, endorsed by Viva and Ooredoo which gained 2.8% and 1.65%, respectively, despite the 1.18% decline of the leading stock Zain.
Meanwhile, the financial services sector led four decliners with 0.83%, dragged by Tahssilat which lost 20% to be the top loser.
Boursa Kuwait’s turnover grew by 40.4% to KWD 10.25 million on Tuesday compared to KWD 7.3 million on the previous session after the trading volume increased by 59.8% to 82.47 million shares compared to 51.6 million.
Ajwan was the most active stock on which 25.33 million shares were traded, up 7.08%.
Zain posted the highest turnover of KWD 1.61 million.
