Kuwait-Mubasher: The remarkable points during this week is the increasing liquidity pumped into the market, capital market analyst Adnan Al-Delimi said in his comment on KSE’s performance during the week ended 5 November.
KSE’s turnover was reasonably distributed on clue chips and small caps, added the analyst.
Al-Delimi noted that the market remains unable to break the sentimental level of 5,800 points due to investors anticipating for financials announcements.
During Thursday’s session, the benchmark index of Kuwait’s stock market dropped 0.07% or 4.1 points to close at 5,770.78 points.
Meanwhile, both the weighted index and the Kuwait-15 index inched up to 390.58 and 929.77 points respectively.
The market was also affected negatively by the announcement made on Wednesday by Human Soft about the plans to withdraw from the market due to low trading activity.
The legal period for announcing the companies’ financials ends 15 November, and at least 55% of the listed firms have not posted their results yet. Thus, investors are anticipating and worried about delisting and suspension decisions, noted the analyst.
Al-Delimi expected Q4 financials to grow amid improving banks and economic environment as well as the start of a new development plan in the country.
