Kuwait Bourse Benchmark Breaks Psychological Barrier Above 7,000 PointsSource: www.export-egypt.com 3/22/2017, Location: Middle East |
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Boursa Kuwait's trades concluded in a record bullish manner with the the benchmark crossing the 7,020-point psychological barrier, largely due to extraordinary activity on part of a large number of (longtime-known as) inactive chips.
Purchase operations targeting chips of "Al-Istihlakia" company, which posted the highest leap, by 70 percent, dominated the market, where 1,000 shares were traded through two deals, leading the last-minute activity. Stocks of Iiyas Co. climbed 23.88 percent, where 100 chips were exchanged in two deals. The session was distinguished with wait-and-see attitude, with respect of forecast financial statement, on part of the traders. However, those who joined the arena largely traded in the 100-fils chips. Profit bagging, which had already taken place, would persist in tomorrow's session, analysts opine The traders' attention moved to the revelation by Al-Maaden Co. with respect of winning the Equate contract for handling and marketing the plastic scrap for three years, proceeds of which are forecast at USD 10 million. Moreover, they were preoccupied with clarifications by Alafco and Mizan on the extraordinary trades. The trades closed with the main indices settling on mixed boards, with the benchmark leaping by 138.98 points, breaking the 7,020.18-point psychological barrier, for the first time in as many months ago. The Weighted and KSX 15 indices both went down by 2.54 and 10.42 points respectively. The volume of trades was at 335 million shares with a value of KD 25.8 million done through 6,472 deals. (USD=KD 0.304). |
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