By: Waleed AbdelSalam
Kuwait-Mubasher: The benchmark index of Kuwait’s stock market levelled down 0.26% or 13.93 points to end Monday’s session at 5,378.88 points.
The weighted index lost 0.20% or 0.70 points to reach 356.19 points. Similarly, Kuwait-15 index retreated 0.42% or 3.48 points to close at 826.67 points.
The fall of Monday’s session is normal amid profit-taking, technical analyst Bader Al Otaibi said, adding that the price index targets 5,455 points amid an expected rise on Tuesday.
KSE’s benchmark index has support levels at 5364, 5349, and 5332 points respectively, while the resistance is at 5395, 5411, and 5427 points respectively, he added.
As for Ramadan, the analyst expects the daily trading to shrink amid low liquidity.
Monday’s liquidity declined 5.2% to KWD 9.42 million, as trading volume decreased 17.6% to 128.2 million shares.
The consumer services topped the gainers by 0.56%, while the basic materials sector headed the decliners by 1.82%.
Nafais Holding was the top winner by 6.4%, while Al Kout Industrial Projects led the losers by 7.7%.
Al Mal was the most active stock on which 19.6 million shares were traded, while Danah Al Safat recorded the highest liquidity which stood at KWD 1.3 million.
Translated by: Ingy ElSafy
