(MENAFN- Kuwait News Agency (KUNA)) Benchmark of Kuwait Stock Exchange (KSE) rose one percent in the past week trading and most of the sessions closed in a bullish manner.
Oula Wasata company said in a report released on Saturday that the past week sessions were distinguished with speculations, targeting in particular cheap chips, with emphasis on operational shares.
The KSE benchmark, at Thursday's closing, settled at 6,700-point level, losing 8.3 points, while the weighted index and KSX 15 rose, respectively 0.2 and 0.3 points.
Financial disclosures, covering the past year, by the listed companies, including seven banks and two telecommunication companies, Zain and Viva, fuelled market activity, though it remained unstable.
In the past week second session, price index closed with marginal increase, while the weighted and the Kuwait 15 indexes moved down, amid profit generation covering most blue-chips. In this session, as well as in most of the week sessions, speculations on "popular chips" contributed to spurring trading.
The report indicated that the benchmark crossing of the 6,700-point level, on Tuesday, impacted positively on trades.
Trade value on Tuesday rose to a record level, KD 43.4 million, done in 8,006 transactions, through 364.5 million shares. Some shares of the services sector, namely telecommunications, posted remarkable performance, buoyed by growth of annual earnings, posted as forecast.
Selective buying by financial portfolios intensified on Wednesday, covering general shares including the blue-chips, thus contributing to the push that enabled the price index cross the 6,700-point-level.
The report forecast further performance at the Kuwaiti stocks market, partly due to more expected financial revelations.
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