(MENAFN- Kuwait News Agency (KUNA)) Kuwait Stock Exchange (KSE) has continued to set a resistance level for its retreating path after a major decline of its main indices in the past three weeks.
According to the latest report by Bayan Investment, these losses were hugely affected by external influences due to local political events as well as the deteriorating global economy.
These negative influences have contributed in the decline of KSE's major indices. Pressure selling has been the "go-to" choice for investors which resulted in a drop of the bourse's performance for the past three weeks.
Despite a positive start in the exchange market during this week, due to tremendous purchases of major and minor shares, the negative factors dominated the bourse once again to put it back to its former deteriorating status.
The report noted that the minor shares have had the lion's share of purchase which affected the level of the price index that went below its psychological barrier of 6,000 points, for the first time since February.
The week before, the bourse was on a buying trend that included all its sectors. However, this week it saw a drop of purchases that could be clearly seen in the slip of KSE's indices, especially the KSX-15 index.
The annual gain of the price index notably dropped to 1,61 points while the weighted index has accumulated a loss of 2,92 points since the beginning of 2012.
The bourse's capital reached KD 26,7 billion, a slip of 6,26 points from its 2011 record of KD 28,00 billion.
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