KSE trends lower for 3rd day as liquidity tightens

Kuwait-Mubasher: The benchmark index of Kuwait Stock Exchange (KSE) retreated by 0.07% or 3.74 points to close at 5,251.8 points on Tuesday, its third straight session of losses.

The weighted index fell by 0.3% or 1.07 points to 356.88 points, and similarly, the KSX 15 index dropped 0.62% or 5.21 points to 835.15 points.

The market’s benchmark index closed in the red zone due to lack of liquidity, said technical analyst Nawaf Al-Oun.

Today’s liquidity rose 17.3% to KWD 13.6 million, while trading volume decreased 19.6% to 102.5 million shares.

The oil and gas sector outshone the rest with growth of 0.58% as Energy House Holding gained 5.68%.

The technology sector dropped 2.13% to wind up as the biggest disappointment, dragged by Osos which lost 5.36%.

Mena Real Estate was the top winner by a 12.2% increase, while National Real Estate led the losers by 7.55%.

KFH was the most notable mover as it 8.53 million shares were transacted at KWD 4.11 million. However, the stock fell 1.02%. 

MUBASHER Contribution Time: 22-Mar-2016 09:54 (GMT)