Boursa Kuwait ended Sunday’s trading session on a positive note, with the Premier Market index rising by 44.16 points, or 0.68%, to close at 6,571.97 points.
Meanwhile, the Main Market index edged up 0.01%, while the All-Share index increased by 30 points, or 0.5% to close at 5,971.06 points.
Boursa Kuwait’s turnover grew by 4.3% to KWD 21.27 million on Sunday from KWD 20.39 million in the previous session after the trading volume increased by 11.1% to 121.73 million shares from 109.57 million on Thursday.
The telecommunications sector topped the gainers with 0.96%, while the consumer services sector headed the fallers after sliding by 1%.
Al Masaken International Real Estate Development led the risers and added 0.96%, whereas Alargan International Real Estate topped the decliners with 9.79%.
Kuwait Finance House (KFH) recorded the highest turnover of KWD 4.19 million, while Aayan Leasing and Investment posted the highest trading volume with 15.62 million shares.
The rise in the Premier Market index was boosted by the positive performance of the telecommunications sector led by the stock of Mobile Telecommunications (ZAIN), technical analyst Nizar Younis told Mubasher.
The Premier Market index acquired more than 77% of Boursa Kuwait’s trading value, while the Main Market index spearheaded the market in terms of trading volume, Younis noted.
In addition, the Premier Market index succeeded in breaking resistance at 6,570 points and moving on to next resistance at 6,585 points, with expectations to exceed 6,600 points if the index breaks resistance at 6,585 points on Monday.