Kuwait-Mubasher: The stock market of Kuwait ended Sunday in green for the second session in a row, as the price index inched up 0.54% or 30.7 points to close at 5,755.14 points.
The weighted index grew 0.83% or 3.3 points to settle at 394.1 points. Similarly, the Kuwiat-15 index rose by 1.26% or 11.8 points to reach 945.74 points.
Kuwait Stock Exchange (KSE) is witnessing a growth in liquidity and positive speculations after Saudi Telecom (STC) has submitted on Wednesday an offer to acquire additional 74% stake in VIVA, said capital market analyst Adnan Al-Delimi.
He expected this week to see active trades amid strong speculations.
Today’s turnover amounted to KWD 18.66 million, as trading volume stood at 142.88 million shares that were traded through 3,513 transactions.
Viva recorded the highest turnover of KWD 8.12 million, acquiring 43.5% of the market’s liquidity. The stock rose by 7.2%, ranking the seventh among winners.
The telecom sector topped the gainers by adding 5.4%, while consumer services sector led the decliners with a decrease of 0.73%.
KAMCO Investment was the top winner as it jumped 9.8%, while Kout Food headed the losers after going down 7.5%.
Hits Telecom was the most active stock, as 17.47 million shares were traded with a liquidity reaching KWD 551,000. The stock levelled up 8.33%.
