Kuwait-Mubasher: The Kuwait Stock Exchange (KSE) gained in Tuesday’s trading session, as tactical buying and positive speculative trades on small stock continued. The price index rose 0.44% or 28.42 points to close at 6,416.18 points.
The weighted index levelled up 0.29% or 1.24 points to settle at 433.58 points. The Kuwait-15 index inched up 0.04% or 0.41 points to reach 1,049.45 points.
Today’s turnover surged 277.7% to KWD 45.23 million, as trading volume increased 12.6% to 110.24 million shares that were exchanged through 2,832 transactions.
Blue chips acquired the largest share of Tuesday’s trades, said capital market analyst Abdulaziz Al-Hubail.
GFH was the most active stock as 11.13 million shares were traded through 148 transactions, with a value of KWD 329,678. The stock levelled up 7.4% to 33 fils; following an announcement about the company’s takeover of $50 million factory in Saudi.
Viva recorded the highest trading value of about KWD 754,590 with volume of 715,790 shares that were traded through 177 transactions. The stock settled at 1,060 fils.
The technology sector led the gainers by adding 3.06%, while the health care sector led the decliners as it lost 1.05%.
The analyst noted that retreats in neighboring markets, such as Qatar which lost over 13% month-on-month, have been contagious to investors in the Kuwaiti exchange.
Kuwait Cable advanced 10% to top the winners after pocketing 27.5 fils, while Al-Aqaria led the losers, shedding10.2% to 22 fils.
Al-Hubail expected that the mixed-note performance would last until the end of the week.
