By: Mohammad Farouk
Mubasher: The Boursa Kuwait’s indices went down at Wednesday’s close, with an apparent shrinkage in both trading volume and value.
The All-Share Market index declined by 35 points, or 0.62%, to close at 5,635.9 points, while the Main Market and Premier Market indices shed 0.46% and 0.67%, respectively.
Liquidity decreased by 0.9% to KWD 12.78 million on Wednesday, compared to KWD 12.86 million in the previous session. Trading volume levelled down by 20.6% to 68.84 million shares at the end of today’s session, from 86.64 million shares yesterday.
A group of 10 sectors declined, led by the consumer goods sector which plunged 1.81%, while the telecom and banking sectors sank 1.25% and 0.63%, respectively.
Tensions in the region have given rise to fear and caution sentiments in the market, while no radical solution is appearing in sight, capital market analyst Yassin Al Zeiny told Mubasher.
Selling pressure has dominated GCC stock markets yesterday amid concerns over a global economic slowdown or a recession, technical analyst Ibrahim Al Felkawy said.
Al Felkawy added that such concerns controlled the performance of portfolios during Tuesday’s and Wednesday’s sessions, noting that individuals on GCC markets have opted for cautiousness.
Translated by: Muhammad Abdul-Wakeel
