LOC14:40
11:40 GMT
KUWAIT, Feb 7 (KUNA) -- Selling pressure and profit posting dominated trades at Kuwait Stock Exchange (KSE) on Sunday, contrary to forecast bullish trend related to last week's sale of Americana.
Price index held the 5,200-point level, weighted index posted gain of some KD 15 million due to selective purchase of blue-chips and stocks below 50 fils, signaling restoration of reasonable liquidity in the bourse.
National Investment Company topped companies of bullish performance, particularly small ones; namely Kuwait Syrian Holding Company, Al-Maghribieh, Al-Sahel, Al-Mal -- all of below 30 fils price. Most traded stocks were of Adnec, Boubyan, Al-Themar International Holding Co. and Albeit.
Stocks of Kuwait-15 index steadied, coinciding with activity by some portfolios targeting some operational stocks, though on a limited scale.
Mohammad Al-Tarrah, head of the Traders Society, said speculations dominated the market, fueled by local technical and external factors.
Financial analyst Hamad Al-Hajri said low-value stocks were traded heftily in today's session, labelling the session "as not good," compared to the past week performance.
The KSE ended trading on mixed boards on Sunday. Price index was up 8.46 points to reach 5,206.83 points, weighted index went down 0.06 points to stand at 357.28 points, while the KSX-15 index increased 1.08 points, to read 841.63 points. Value of trade was KD 15.7 million while volume was at 180.4 million shares done through 4,100 deals. (end)
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