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Kuwait stock market ends last week trading with huge losses  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 04/11/2012

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(MENAFN - Kuwait News Agency (KUNA)) The Kuwait Stock Exchange (KSE) ended last week, which was limited to a three-day trading following the holy Eid Al-Adha holiday, with huge losses to its benchmarks due to dominance of selling trend on course of trading, especially on the final day of the week, Bayan Investment Company said on Saturday.

KSE's benchmarks suffered a major decline, especially price index, ending at 5655.43 points, the lowest of its levels since August 9, 2004 which was 5626.8 points, Bayan added in a press statement.

Furthermore, the average daily traded value and volume decreased heavily due to several factors such as escalation political movement's conflicts, forcing many traders to refrain from trading until all political conflicts end.

The report indicated that the market has lost its relative cohesive situation, which was significant at beginning of the week due to political percussions, causing the market huge losses by end of the week.

On the other hand, small shares were more active than leading shares last week, in which buying movements had surfaced, only to be faced by quick profit-taking procedures which prevented any positive signs from showing in the market, noted the report.

 






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