Kuwait- KSE benchmark bleeds more than 34 points

(MENAFN- Kuwait News Agency (KUNA)) KUWAIT Jan 10 (KUNA) -- The three main indices of Kuwait Stock Exchange (KSE) maintained downward trend in mid-session trades on Sunday with the benchmark bleeding 34.3 points falling to the level of 5440.The other two key indexes the weighted and Kuwait-15 followed suit maintaining the downward course though with moderate losses respectively shedding 2.53 and 7.5 points.Value of traded shares has so far reached KD some 4.4 million share turnover approximately 28.9 million done in 932 transactions. The market began first session of the new week early today with the price index shedding 11.05 reaching 5464 points followed by weighted and Kuwait-15 indices respectively losing 1.24 and 5.11 points. Value of exchanged stocks amounted to approximately KD 1.48 million share turnover some 6.75 million done in 147 transactions in the session early time today.The Kuwaiti bourse one of the major regional stock markets has been gripped with a lackluster atmosphere and downward inclination for some time.According to a weekend report by Al-Oula brokerage company regional political events negatively affected trading at the KSE last week contributing to the main indices' bearish course.Other factors that added to the gloomy sentiments were reported government plans regarding subsidies levying taxes on corporates and citizens. Meanwhile liquidity continued to shrink in most of the past week sessions but grew to KD 18 million on Thursday when the KSE closed with the benchmark shedding 88.8 settling at 5475 points followed by the weighted and Kuwait-15 indices respectively losing 5.35 and 14.02 points.Bayan Investment Company in an identical report said the market was overwhelmed by a state of watch and caution as investors anticipate listed companies results for the year 2015 an economic report showed. The KSE ended last week in the red zone since the price index closed at 5475.15 points down by 2.49% from the week before closing the weighted index decreased by 2.53% after closing at 372.05 points whereas the KSX-15 Index closed at 876.45 points down by 2.66%.Furthermore last week's average daily turnover increased by 8.83% compared to the preceding week reaching KD 11.10 million whereas trading volume average was 105.87 million shares recording a loss of 12.87% it said. On the other hand the decline of many previously traded stocks during the last week lead the market capitalization to lose more than KD 600 million during only four sessions to reach KD 24.66 billion compared to KD 25.27 billion by the end of a week earlier the report concluded. (end) mka.ysa.mt.rk