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Kuwait’s stock market ends the week on a dull note in volatile trading

Published on January 20, 2012 by   ·   No Comments

Kuwait’s stock market inched lower on Thursday to end week on dull note, the index fell 1.9 points in slightly volatile trade amid profit taking in select mid-caps even as heavyweights closed narrowly mixed. The investors appeared wary of the market direction even as they eye the earnings.

The bourse wound up at 5,798.50 points after swaying in moderate range while the weighted index slipped 1.24 points to 402.88. The volume turnover surged again above the 300 million mark amid brisk speculative trading. 355 million shares changed hands – 26.5 percent rise from the day before.

Kuwait Finance House dropped 10 fils to KD 0.870 adding to the loss in the previous session and Commercial Bank too was down by same measure at KD 0.760. Burgan Bank eased 5 fils after trading 1.26 million shares to settle at KD 0.460.

Zain held the ground unchanged at KD 0.870 off early lows. The stock has slipped 10 fils during December and had shed 30 fils from start of the month. Wataniya Telcom was not traded during the session.

Agility fell 5 fils to KD 0.355 with a volume of 1.77 million shares. The logistics service provider earlier in December had bid about KD 25.6 million to acquire a strategic stake in Kuwait Health Assurance Co. Among other decliners, Jazeera Airways dropped 20 fils to KD 0.460 after trading 1.42 million shares and Kuwait Portland Cement followed suit.

KGL Logistics Co was down 6 fils and Egypt Kuwait Holding eased 5 fils to KD 0.275.

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