By: Mohamed Farouk
Mubasher: The indices of Boursa Kuwait showed a mixed performance at Tuesday’s close, with the Premier and All-Share market indices inching up by 0.99% and 0.42%, respectively, while the Main and BK 50 indices levelled down by 0.9% and 1.14%, respectively.
The turnover amounted to KWD 49.76 million, up by 19.5% from KWD 41.64 million a day earlier.
Meanwhile, trading volume hiked by 21.9% to 213.38 million shares from 175.03 million shares on Monday.
The real estate sector was the top gainer, adding 2.62%, whereas the consumer goods segment came on top of the decliners and dipped 1.91%.
Mabanee was the top rising stock with a 10.64% increase, whereas Wethaq Takaful Insurance led the losers and declined by 13.48%.
Kuwait Finance House (KFH) achieved the highest turnover of KWD 12.44 million, the stock closed down by 1.64%.
Ahli United Bank - Bahrain (AUB Bahrain) led the trading activity through the exchange of 24.88 million shares and closed up by 6.7%.
Commenting on Tuesday’s performance, vice president, investment strategy and research at Kamco Invest, Raed Diab, told Mubasher that Boursa Kuwait reversed its downward performance seen earlier today to close on a rise, following prior severe collapses since the beginning of March.
It is too early to estimate the bourse’s recovery, the expert noted, highlighting that the government’s measures taken against the novel coronavirus (COVID-19), which had been so far effective and extraordinary, coupled with the recently announced interest rate cut, have encouraged investors to carry out more purchase transactions.
Kuwait’s interest rate slash is expected to reflect positively on the Kuwaiti bourse’s trading activity, Diab added.
