By: Mohamed Farouk
Mubasher: The indices of Boursa Kuwait opened Monday’s trading session in green territory, boosted by Kuwait Finance House’s (KFH) positive results.
By 9:16 am Kuwait time, the All-Share Market index inched up 12.62 points, or 0.22%, to 5,813.15, while the Premier and Main markets rose 0.2% and 0.27%, respectively.
KFH’s positive first-quarter profit contributed to propping up the bourse in early trades, capital market analyst Badar Al Badr told Mubasher.
KFH’s profits also pushed up the banking sector, which led risers with 0.5%, Al Badr added.
After Mezzan Holding and Integrated Holding Company have also lent support to the market after announcing cash dividend distributions.
From a technical perspective, Al Badr further noted that the All-Share Market index rose above the main support level at 5,800 points, and it tends to test the first resistance level at 5,815 and 5,835 points.
United Projects Company for Aviation Services’ (UPAC) stock topped risers with 9.2%, while the stock of Mubarrad Holding Co led decliners with 9.74%.
Kuwait Finance House’s (KFH) stock, which inched up 0.58%, topped the bourse in terms of liquidity with KWD 1.1 million, while Al Madina for Finance and Investment’s stock, which added 0.81%, posted the highest traded volume with 7.35 million shares.
Boursa Kuwait’s trading volume reached 33 million shares exchanged through 880 transactions at a turnover of KWD 4.8 million.
Translated by: Mohammad Hesham Azab
