By: Mohamed Farouk
Mubasher: The indices of Boursa Kuwait opened Tuesday’s trading session with a massive rise as the All-Share Market index inched up 0.26%, followed by the Main Market index with 0.16%, and the Premier Market index with 0.3%.
The growth in the bourse’s indices was attributed to a rise in the telecommunications, industrial, and banking sectors, market analyst Moustafa Al Garhi told Mubasher.
There us a remarkable increase in the bourse’s trading volume and value, Al Garhi added, noting that the Premier Market index’s stocks are still acquiring the largest stake of trading activities.
From a technical perspective, Al Garhi noted that the All-Share Market index breaks a key resistance level of 5,100 points, and it may rise to 5,120 and 5,150 points, while it may drop if it sees profit-taking movement.
By 9:40 am Kuwait time, the telecommunications sector led gainers with 0.47%, followed by the industrials sector with 0.32%, the real estate with 0.3%, and the banking segment with 0.26%.
On the flipside, the oil and gas sector inched down 0.07%.
Al Madar Finance and Investment’s stock was the best performer with 7.7%, whereas Abyaar Real Estate Development’s stock was the worst performer with 4.7%.
Boursa Kuwait’s trading volume hit 22.33 million shares exchanged through 1,000 transactions at a turnover of KWD 3.8 million.
The Gulf Bank of Kuwait’s (GBK) stock, which added 0.38%, was the most active in terms of liquidity after generating KWD 793,500, while Al Enmaa Real Estate’s stock, up 1.16%, led in terms of traded volume after 3.65 million shares were exchanged.
Translated by: Mohammad Hesham Azab
