By: Mohammed Farouk
Mubasher: Boursa Kuwait saw a mixed performance for the second week in a row, as the benchmark price index slipped 28.9 points, or 0.43%, to close the week at 6,633.44 points, compared to 6,662.35 points last week.
While the weighted index gained 6.07 points, or 1.48% to 415.78 points, and the Kuwait-15 index grew 12.5 points, or 1.3%, to 971.07 points.
The price index has been witnessing a short-term bearish trend, particularly ahead of applying the second phase of Boursa Kuwait’s development, which kicks off next Sunday 1 April, Hassan Al Kandry told Mubasher.
The price index will be suspended on Sunday as the weighted indices will be adopted instead starting from the level of 5,000 points, which propel investors to anticipate the next week’s trade to handle the bourse trend properly from a technical perspective, Al Kandry indicated.
Trading volume fell by 2.4% to 243.63 million shares this week from 249.63 million in the previous week.
Meanwhile, Boursa Kuwait’s turnover surged by 12.5% to KWD 60.69 million, compared to KWD 53.93 million last week.
Additionally, transactions rose by 4.8% to 12,020 in the week ended Thursday, 29 March, from around 12,420 transactions.
Translated by: Mai Ezz El-Din
