Kuwait-Mubasher: The price index of Kuwait Stock Exchange (KSE) levelled up 0.15% or 8.26 points to reach 5,360.06 points in the mid-session of Wednesday. Similarly, both the weighted and KSX 15 indices gained 0.44% and 0.32% respectively.
KSE’s benchmark index can rebound from 5,290 points, but breaking below this level would indicate a long-term correction movement that could take the gauge to 5,200 points in the coming weeks, said technical analyst Nawaf Al-Oun.
KSE’s price index has a target of 5,375 and 5,404 points respectively before it could touch the peak of 5,435 points that preceded the correction movement, Al-Oun said. Breaking above this peak would point to new targets at 5,470 and 5,650 points respectively, the analyst added.
Liquidity stood at KWD 6.5 million, as 72.8 million shares were traded through 1,766 transactions.
The telecom sector topped the gainers by rising 1.04%, spurred by Ooredoo which gained 3.6%.
Meanwhile, the technology sector led the decliners by falling 1.3%, as Hayat levelled up 3.6%.
Gulf Cable was the top winner with an increase of 6.67%, while Kuwait Cable Vision headed the losers as it dropped 9.62%.
Gulf Petroleum Investment was the most active as 7.42 million shares were exchanged with a value of nearly KWD 323,100. The stock rose by 2.35%.
NBK recorded the highest liquidity which stood at around KWD 443,600 as 2.09 million shares were traded. The stock reached 212 fils.
