(MENAFN- Kuwait News Agency (KUNA)) By Mohammad Kamal
KUWAIT, June 25 (KUNA) -- Post-eid sessions at Boursa Kuwait are forecast to witness "some prices' makeover" for a slew of corporates' stocks ahead of the bi-annual closures, according to experts.
Naif Al-Enezi, Chairman of Al-Aman exchange company, said in an interview with KUNA that traders would target, in June's concluding sessions (next Wednesday and Thursday), below-50 fils chips in a bid to make up for losses they incurred during the fasting month.
Active speculators will seek to take advantage of this choppy situation, thus paving the way for rapid selling and purchasing operations on tradable shares especially those in the banking sector, in addition to some selected ones in the services, property and communications.
Mohammad Al-Tarrah, Chairman of "Al-Mutadaweloon" society, predicted activity on traditionally "inactive chips." Some traders aspire to post "good closures" for their companies, an approach that would enhance the shares' prices.
The bourse closed sessions of June's third week with main indices settling on mixed boards. The price index dropped 0.6 percent, the weighted indices rose (NIC-50 climbed 08 percent, the weighted index 2.1 percent and Kuwait-15, 2.3 percent).
Daily value of the traded shares rose 103.9 percent reaching KD 12.2 million (some USD 39.8 million) during the week compared to KD 5.9 million (approx. USD 19.2 million) in the previous week.
The price index in the weekend closed in a bullish manner putting on 7.08 points and settling at 6772.09, with a cash value of KD 7.2 million (USD 23.5 million), through 35.8 shares, done in 1,930 spot transactions. (end) mke.rk
MENAFN2506201700710000ID1095582666
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.