By: Mohamed Farouk
Mubasher: The indices of Boursa Kuwait closed Thursday’s trading session with a massive drop, pressured by the collapse of the global stock markets on Wednesday.
The All-Share, Main, and Premier markets fell by 0.52%, 0.37%, and 0.6%, respectively.
Boursa Kuwait’s trading value hiked 99.2 to KWD 17.93 million on Thursday compared to KWD 9 million in the prior session, after the trading volume increased by 44.3% to 81.52 million shares from 56.5 million.
The All-Share Index’s correction movement is continuing until exceeding resistant at 5,175 points, which hasn’t happened so far, head of the training department at FXTM Company Nawaf Al Oun told Mubasher.
The drop of Dow Jones, as well as other factors, negatively affected the Kuwaiti market, Al Oun added.
On Wednesday, the Dow Jones Industrial Average plunged more than 800 points, the worst in eight months, pushed down by sharp declines in technology stocks.
By the end of the last session of this week, the consumer good’s sector topped the market’s losers with 0.87%, while the insurance sector headed the gainers adding 0.63%.
National Bank of Kuwait’s (NBK) stock, which retreated 0.84%, led the bourse in terms of liquidity with KWD 4.38 million, while Ahli United Bank’s stock, which plunged 1.46%, spearheaded the market in terms of trading volume with 7.48 million shares.
Translated by: Kholoud Mohamed Hussein
