Main indices of Kuwait Stock Exchange (KSE) settled in the green zone in the past week, buoyed by noticeable blue chips’ activity amid some substantial stock gatherings.
Al-Oula brokerage company said in a report, issued on Saturday, the price index rose 13.97 points to level of 7,186.42 points, while the weighted index climbed 3.15 points and Kuwait 15, 11.86 points.
Trades were largely jittery, amid selective purchases, including those by the banks, amid selloffs of blue chips and prevailing positive sentiments among traders.
However, the noticeable upbeat atmosphere at the KSE did not lead to hike of the traded stocks’ value, in shadow of activity slack in international markets and absence of corporate’ positive reports about the year’s second quarter, thus trades’ volume remained “modest” in the post-eid period.
The past week operations remained steady for four successive sessions, however the Kuwait 15 index dropped due to fall of the operating stocks and speculations on cheap chips.
Selloffs were recorded in banking, services, investment and real-estate sectors, while volume of cash deals was lower than the forecast, largely due to abstention tendencies among the traders following the holiday and jitters caused by regional tensions.
Moreover, the report indicated at fresh profits’ revelations by some companies for the second quarter of 2014, general tendency toward selective purchases, adding that the past week operations were distinguished with major traders’ tendencies to assemble stocks in anticipation of feasible deals next week.
Source : KUNA Kuwait News agency
