By: Mohamed Farouk
Mubasher: The indices of Boursa Kuwait finished Wednesday in decline, pressured by the drop of many stocks, especially the Main Market-listed equities.
The All-Share Market index shed 23.64 points, or 0.41%, to 5,770.95 points, while the Premier and Main markets fell 0.11% and 1.16%, respectively.
The small and blue-chip stocks listed on the Premier Market index have seen a wave of profit-taking, which in return weighed on Boursa Kuwait on Wednesday, capital market analyst Ziyad Faqih told Mubasher.
The sizeable decline of the stocks of Agility and Human Soft Holding impacted negatively on the Premier Market index, while Al Aman Investment’s stock dragged down the Main Market index.
From a technical perspective, the All-Share Market index is still hovering near resistance of 5,800 points, the analyst said, adding that further trades are needed to break this level.
The industrials sector led losers with 2%, followed by the oil and gas sector with 1.6%, while the technology sector was the best performer with 8.7%.
Al Aman Investment’s stock was the worst performer with 10.6%, while the stock of Hilal Cement topped risers with 15.5%.
Boursa Kuwait’s liquidity rose 7% to KWD 42.48 million on Wednesday, from KWD 39.7 million, while traded volume inched down 0.8%, reaching 214.28 million shares, compared to 215.92 million on Tuesday.
Kuwait Finance House’s (KFH) stock, which upped 1.66%, topped the bourse in terms of trading value with KWD 7.8 million, while Aayan Leasing and Investment’s stock, which added 2.92%, generated the highest trading volume with 19.21 million shares.
Translated by: Mohammad Hesham Azab
