Stocks in Kuwait were seen climbing sharply on Sunday, extending gains. Kuwait stocks soared 142.44 points to 7729.85 points driven by the banks and other heavyweights with positive sentiment. The KSX 15 gauge rose 22.26 points to 1090.68 points adding close to 40 points. The volume turnover rebounded higher than the 600 million mark for the second time this month, reaching 615.11 million shares.
Most of the sectors were seen boosting, apart from the technology sector which lost 0.09%, while the financial sector gained the most with a 2.83% increase and the real estate sector followed with a 2.46% gain. With Volumes, the financial sector led the gains with 39.89% market share, while the real estate followed with 32.42%. The basic materials came in third with 14.58%. The country’s National Industries Group advanced 15 fils to KD 0.270, while City Group rose 25 fils to KD 0.400. Kuwait Gulf Links gained 2 fils on back of 1.57 million shares. The National Bank of Kuwait advanced by 10 fils with volume of 2.95 million shares, while Gulf Bank closed at KD 0.405.
Among the main movers were Zain rising by KD 0.680 and Agility gained 20 fils. First Dubai edged up 9.43% to KD 0.116 and Noor Financial Services rose 9.26%. Future Global declined 6.67%.
Kuwait Cement Co remained unchanged at KD 0.365, while Metal and Recycling Company edged 2 fils higher to KD 0.116.
Jazeera Airways gained 10 fils higher at KD 0.540, while Guld Cables jumped 30 fils. Kuwait International Bank was unchanged at KD 0.315, gaining the central bank’s permission to extend its period to buy or sell up to 10% of its own shares in the next six months.
Kuwait Finance House edged up 20 fils on back of over 8 million shares, while Boubyan Bank remained at KD 0.620.
