By: Mohamed Farouk
Mubasher: Boursa Kuwait closed Sunday’s session in red after 11 Saudi princes were reportedly arrested in a corruption inquiry.
The price index closed the session 1.23% or 80.3 points down to the level of 6.468.16 points.
Similarly, both the weighted and Kuwait-15 indices fell 1.24% and 1.14%, respectively.
The GCC bourses have been negatively affected by the Saudi royal decisions, technical capital market analyst Ibrahim Al-Filkawy told Mubasher.
The main index of Boursa Kuwait broke support below 6,483 points, moving towards 6,436 and 6,360 points, technical analyst Nawaf Al Oun said.
The communication sector dropped 2.7%, pressured by Ooredoo and Zain which tumbled 6.7% and 1.9%, respectively.
The banks sector decreased 1.91%, as Ithmaar Holding retreated 10%.
At the level of blue chips, Metal and Recycling rose 12.25% at 89.8 fils exchanged through one transaction of 100 traded shares at a turnover of KWD 9.
Liquidity increased to KWD 17.44 million from KWD 12.71 million, while trading volume levelled up 51% to 103.2 million shares from 68.37 million shares.
Kuwait Finance House (KFIN) was the most active stock in terms of liquidity, while about 14 million shares were traded on Ahli United Bank – Kuwait, down 2.06%.
Translated by: Mai Ezz El-Din
