Kuwait Stock Exchange sees fluctuation, selling pressure this week

The Kuwait Stock Exchange (KSE) experienced fluctuations and selling pressure in the this week's trading, according to a specialized economic report.
The majority of the trading was marked by speculations as well as high demand for the popular stocks and low demand for the leading stocks, the report by Al-Oula Financial Brokerage Company said here on Saturday.
The KSE ended this week's trading in the red zone as the price index dropped 5.91 points, reaching 6,514 points, the same case with the weighted index and the KSX 15, which lost 0.1 and 2.4 points respectively, it said.
The traded volume hit about 106.1 million shares at a total value of KD 14.3 million, it said, noting the shares were traded in 3,294 deals.
The value of traded shares recorded new rates of decline in Monday's session after reaching KD nine million, which is a very low level that reflects a reluctance to purchase that affected negatively the stock market, especially the mutual funds and main portfolios, it noted.
The trading saw selective operations on some operational stocks that were highly attracted by most investors, especially those who took part in this week's trading, it pointed out.
It added that the activity of some financial portfolios focused on the cheap stocks, mainly the stocks that are traded at less than 50 fils per share.
The wave of decline in the price index stopped in Tuesday's trading after it witnessed losses in seven consecutive sessions, but it declined again in Wednesday, it explained.
According to the report, most Gulf stock markets declined in Wednesday's trading. One KD equals USD 3.33.