The Kuwait Stock Exchange (KSE) on Thursday continued its negative performance with the closing of this week’s session in the red zone, with the price index coming below the 7,000-point level.
Dealer’s low confidence in the stock market went on amid the abysmal general performance in the main indexes, including all the listed sectors.
The session was generally up and down in light of random high sales involving most of shares, be they operating, leading or middle-valued.
The price index came under much pressure throughout the year and lost more than 600 points, or 7.5 percent, reflecting the deterioration in the stock market especially during the third quarter of the year.
Although the shares of the banking sector were static, the KSX 15 index was seriously affected by the slump.
Commenting on the situation, the economist Mohammad Al-Tarrah said everybody had anticipated the main index to be below the 7,000-poin level today due to the plunge during the week as some key investors fled to other Gulf markets.
Adnan Al-Duleimi, another economist, said several shares of the banking sector were not affected by the dwindling general performance on account of their carefully considered investment nature.
This situation, he maintained, indicates that the market will try to rebound next week, with indexes to be back to the red zone.
All main indexes of Kuwait Stock Exchange (KSE) settled in the red zone upon closing Thursday’s session.
The Weighted Index read 466.33, losing 0.84 points, Price Index stood at 6,985.89, shedding 39.47 points and the KSX 15 index settled at 1,127.81, with a loss of 5.1 points.
Number of trades reached 3,130, value of traded shares amounted to KD 15,935,670.236 and volume of the exchanged stocks reached 123,708,039.
Source : KUNA Kuwait News agency
