By: Mohamed Farouk
Kuwait – Mubasher: Boursa Kuwait’s indices closed Sunday in the green, backed by four sectors, the most important of which was the telecommunications sector.
The benchmark price index edged up 0.02% or 1.1 points to close at 6,846.11 points, while the weighted and Kuwait-15 indices grew 0.61% and 0.62%, respectively.
Commenting on Boursa Kuwait’s performance on Sunday, market analyst Mohamed Al Anzi said that maintaining the level of 6,816 points will enable the price index to continue its positive performance with support being at 6,800 and 6,775 points.
The price index is targeting 6,860 and 6,880 points, respectively, the analyst told Mubasher.
Similarly, the weighted index is performing positively and heading towards the 423.8-point target, with support being at 416.9 points, the analyst said, highlighting that the Kuwait-15 index is no different, heading towards 968 points, with support at 953 and 957 points.
The telecom sector led risers on Sunday, adding 1.02%, after its stock Zain grew 3.18%, while Viva increased 0.5%.
On the other hand, the banking sector declined 0.13% after Ithmaar and Warba Bank shed 3.65% and 0.37%, respectively.
Gulf Franchising Holding led rising stocks, surging 13.48%, whereas White Cement led fallers, sliding 10.1%.
Turnover amounted to KWD 16.47 million on Sunday, down 15.2% from Thursday’s KWD 19.42 million, whereas traded volume reached 74.12 million shares versus 71.58 million.
Zain was the most actively-traded stock on Boursa Kuwait in terms of value and volume after 10.15 million changed hands through 756 transactions at turnover of KWD 4.94 million.
Translated by: Nada Adel Sobhi
