By: Mohamed Farouk
Mubasher: The Kuwaiti indices were mixed at Tuesday’s close for the third consecutive session.
The All-Share and Premier markets edged up by 0.13% and 0.35%, respectively, whereas the Main Market and BK Main Market 50 indices fell by 0.44% and 0.61%, respectively.
The market’s liquidity amounted to KWD 42.18 million on Tuesday, up by 47.8% when compared to KWD 28.54 million a day earlier. The trading volume also increased by 33% to 161.83 million shares from 121.64 million.
The technology segment topped eight winners with 10%, whereas the real estate sector headed three losers with 0.78%.
Automated Systems, Human Soft Holding Company, and Kuwait Resorts were the top rising stocks with 10% each, whereas Taameer Real Estate Investment led the falling stocks with 9.72%.
Kuwait Finance House (KFH), up 0.32%, posted the largest turnover of KWD 7.77 million, while Ahli United Bank – Bahrain (AUB Bahrain), which stabilised at 202 fils, led the trading activity through the exchange of 20.03 million shares.
In this regard, vice president, investment strategy and research at Kamco Invest, Raed Diab, told Mubasher that Boursa Kuwait’s quiet trading activity over the past three sessions is due to the coronavirus outbreak and its repercussions on the national and global economy.
The recent sharp drop in oil prices has also weighed on the bourse’s active trading and is seen to increase the budget deficit, Diab added.
The analyst further predicted the market volatility to continue over the coming period amid the current circumstances.
