LOC15:06
12:06 GMT
KUWAIT, Feb 8 (KUNA) -- Trading at Kuwait Stock Exchange (KSE) on Monday was overwhelmed by further selling pressure involving cheap shares, as leading stocks were firm.
Orders were up and down, sending the KSE into the green zone due to slight hikes, while the market anticipated companies' disclosures of financial findings for the fourth quarter of 2015.
This reflected several dealers' reluctance to get involved in selling and buying, thus causing the main Price Index to shed down to the 5,200 points level for a while, but the situation changed at the last minute.
The KSE ended trading on mixed boards on Monday. The Price Index was up 2.45 points to reach 5,209.28 points, the Weighted Index went down 0.57 points to stand at 356.71 points, while the KSX-15 Index increased 0.56 points, to read 842.19 points.
The value of trade was KD 16.7 million, while the volume was at 214.8 million shares done through 4,543 deals.
The share of the Eyas for Higher and Technical Education was the main gainer, as that of Amwal International Investment Company was the top loser.
As the trading session went on, many dealers in the KSE hall watched screens in pursuit of news on the outcomes of meetings of listed companies' boards of directors for financial disclosures for the first quarter of 2015.
Meanwhile, dealers were happy at reports on the approval of the Central Bank of Kuwait (CBK) to boost the capital of the National Bank of Kuwait (NBK) up to KD 600 million involving six billion shares.
Some investors were also interested in the news of the agreement signed by the IKARUS Petroleum Industries Company and Saudi International Petrochemical Company (SIPCHEM) for the commercial completion of the purchase of 11% of the shares of two affiliates of Sipchem, namely the International Acetyl Company and International Vinyl Acetate Company, for amount of SR 240 million.
Earlier on Sunday, the KSE ended trading on mixed boards. 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. (Pick up previous)
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