Kuwait – Mubasher: Mobile Telecommunications’ (Zain) stock led Boursa Kuwait in terms of trading value during Monday's trading activities after trading resumed on the stock.
By 10:23 am Kuwait time, Zain’s stock acquired 39.8% of the bourse's liquidity with a turnover of KWD 7 million.
The stock ranked second in terms of traded volume after 12.4 million shares were exchanged, acquiring 15.9% of the total trading volume of Boursa Kuwait in this time.
Zain’s stock grew 0.91% or 5 flis to 555 fils , which push the telecommunications sector up 0.03%.
In the meantime, the main price index of Boursa Kuwait rose 0.03%, followed by the Kuwait-15 index with 0.11%, where the weighted index declined 0.04%.
Zain’s stock saw total sales of 14.11 million shares, while 7.69 million shares represented purchases.
Boursa Kuwait resumed trading on the stock after the Zain announced the developments of the talks with Oman-based Omantel and Kuwait’s Al Kharafi Group, which were looking to acquire a 12% stake in Zain.
On Sunday, Boursa Kuwait suspended trading on Zain’s stock pending a statement from the company after news was circulated about talks of a possible acquisition in the Kuwaiti operator.
