By: Mohammad Farouk
Kuwait – Mubasher: The Boursa Kuwait’s indices declined during April, which witnessed the segmentation of the market into three separate 5,000-point sub-markets.
The All-Share Market Index tumbled over 200 points, or 4.02%, to 4,799.05 points, while the Main Index decreased by 165.1 points, or 3.3%, to 4,834.9 points.
Premier Index dropped 221.3 points, or 4.43%, to close at 4,778.66 points.
Over the month, trading value soared 5.9% to KWD 240.82 million from KWD 227.33 million a month earlier.
On the other hand, market capitalisation plunged 6% to KWD 25.97 billion against KWD 27.62 billion in the previous month.
Following the segmentation, the Boursa Kuwait became a new undeveloped market, technical analyst Ibrahim Al Felkawy told Mubasher, adding that the market is in need of correction.
Fluctuations are expected to continue until Ramadan when most investors become reluctant to trade in all the GCC markets, especially the Kuwaiti, which lacks incentives, the analyst said.
Translated by: Muhammad Khalid
