The Kuwait Stock Exchange (KSE) ended the last trading session of the year on Wednesday with a rise, supported by selective purchase of several shares, especially stocks that fell on Tuesday, which led the main index to close in green zone.
The price index was up today though the market had witnessed fluctuations during early trading hours, until it was stabilized and then started a gradual way up, exceeding 6535 points, after it lost up to 13,000 point through the year.
One major reason for the uptrend was the purchase of blue chips and some speculation stocks.
As usual in such seasonal closures, a state of mixed performance dominated the market despite cosmetic closure of many shares seeking highest possible profits. Trading was active on KSK 15 stocks.
Sales pressures continued in today’s session, amid a deliberate absence of top market makers.
Over the last trading week of 2014, the KSE saw profit-taking due to sales pressures targeting shares of operational companies, as closing financial results approached. Several investors seemed to prefer keeping cash to enter a new year with a different strategy.
The KSE ended today’s session in mixed boards as the price and weighted indices were up by 25.6 and 0.67 respectively while KSX 15 went down by 1.18 points. A total of 303 million shares worth KD 27.9 million were traded in 8,439 transactions.
Source : KUNA Kuwait News agency
