By: Mohamad Farouk
Mubasher: The indices of Boursa Kuwait closed Sunday’s session with the largest decline since the market segmentation in early April.
The All-Share Market retreated by 1.45% or more than 73 points to close at 4,992.54 points, while both the Main and Premier markets fell by 0.59% and 1.86%, respectively.
Boursa Kuwait continued its negative performance for the third session in a row, capital market analyst Saad Al Rumi told Mubasher on Sunday.
The stock market of Kuwait was impacted by direct pressure from other bourses in the region, especially the Saudi Stock Exchange (Tadawul), despite the positive opening on Sunday, the analyst added.
If the All-Share Market continues to decline below the 5,000-point level, the index may head to the next support level at 4,950 points, Al Rumi added.
The telecom segment led nine decliners with 3%, dragged by Zain which lost 3.9%. Boursa Kuwait did not witness any gainers by the end of Sunday.
Manazel led the losers with 10%, while Mena Real Estate headed the gainers with 5.9%.
Boursa Kuwait’s turnover increased by 45% to KWD 25.99 million on Sunday compared to KWD 17.93 million in the previous session after the trading volume grew by 27.4% to 103.85 million shares from 81.52 million.
The National Bank of Kuwait (NBK) reported the highest liquidity of KWD 6.04 million, the stock went down 2%.
The Commercial Real Estate (Al Tijaria) was the most active stock on which 14.27 million shares were exchanged, the stock went down 1.5%.
