LOC12:07
09:07 GMT
KUWAIT, Feb 28 (KUNA) -- Kuwait Stock Exchange (KSE) began the past week trading bearishly with the price index dropping 10.3 points to 6,601 while the weighted index rose 0.12 points and Kuwait 15 index 1.63 points at Tuesday's closing.
While most of the Gulf market dropped in Monday's session, following oil prices' decline, the Kuwaiti bourse rallied, buoyed by all market indices, amid corporate revelations about cash dividends' distribution and decline of pressure on blue-chips, witnessed in the week's first session, according to a report released by Al-Oula financial brokerage company, on Saturday.
Limited activity by market leaders relatively helped in maintaining stability of the weighted index and Kuwait 15 index. The sessions were dominated by speculations, with some blue-chips luring investors seeking advantages from the cash distributions.
The report indicated at noticeable "comeback" of cheap chips, namely those lower than 100 fils, along with "slowness" by portfolios and the main market makers, except for selective trades in some blue-chips.
The National Days' vacation has also contributed to creating the general lackluster atmosphere that gripped the market. (end)
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