Kuwait Stock Exchange (KSE) ended Sunday trading session up due to an overall buying wave by investors, some portfolios and investment funds, targeting communication shares in particular.
The rise has been attributed to early steps seeking a happy end of the year, which pushed all indices up. It was noticeable that the price index exceeded 6,670 points in the first trading session of the week.
This performance offers a signal that the market is getting ready to bounce after falls in November and December.
Selling pressures could not curb buying orders on a certain communication share recently listed at KSE, yet attracting investors of almost all categories after it hit its highest in active trading.
It was also noticed that some portfolios and funds sought to establish new posts in the price levels in the wake of positive company data.
The purchase boom on almost all shares has been attributed by analysts to the fact that the market seemed to reject being impacted by external negative factors, especially the drop in oil prices, the main market locomotive.
Today’s session ended in the green zone as the price index hit 6,679 points, gaining 101 points, the weighted index gained 2.7 points and the KSX 15 four points.
Source : KUNA Kuwait News agency
