Mubasher: The stock of Burgan Bank recorded its highest level in two-and-a-half months early Sunday.
By 9:55 am Kuwait time, Burgan Bank rose 3.08%, or 8 fils, to reach 268 fils with 3.62 million shares traded through 203 transactions at a value of about KWD 967,190 that represented 26.2% of Boursa Kuwait’s liquidity.
The rise of Burgan Bank enhanced the banking sector’s performance to go up 0.1%.
Purchase offers on Burgan Bank increased to 4.6 million shares compared to 2.3 million sell offers.
Burgan Bank’s stock is facing resistance at 275 fils and 276 fils, while its support lies at 265 fils, capital market analyst Hammoud Al Ajami told Mubasher.
As for the income statements, capital market analyst Ahmad Jassim Al Qamr said that Burgan Bank is forecast to achieve KWD 71 million profits in the first nine months of 2018 compared to KWD 54 million in the same period last year.
