By: Mahmoud Gamal
Kuwait – Mubasher: The benchmark index of Kuwait Stock Exchange (KSE) ended Tuesday’s trading session higher by 0.07% or 3.83 points to close at 5,543.59 points.
Both the weighted and Kuwait-15 indices levelled down by 0.05% and 0.28% respectively.
The telecom sector topped seven gainers with a 2.18% rise, backed by Ooredoo and Viva which gained 5.4% and 2.3% respectively.
The financial services segment gained 0.45%, on the 5.4% rise of Al Imtiaz, following the news of its subsidiary, Al Ritaj Investment, becoming an associate.
The mixed performance seen at KSE comes in line with the anticipation for forming the new Kuwaiti government, capital market analyst Mohamad Al-Shimry said.
Meanwhile, the real estate sector led four decliners with 0.56%, dragged by Munshaat which lost 4.4%.
The banks segment retreated 0.26%, affected by the 2.6% drop of AUB.
KSE’s trading value shrank to KWD 9.03 million, as trading volume decreased to 81.9 million shares.
The price index will remain positive as long as the support level is above 5,522 points, Al-Shimry noted.
The main index targets a positive rebound to 5,545 and 5,555 points respectively in the coming sessions in case positive political news emerges, the analyst noted.
Translated by: Ingy ElSafy
