Kuwaiti Stock Exchange (KSE) has ended November trading sessions in the red largely due to the decline of oil prices, OPEC decision not to change output ceiling and the drop in other Gulf markets.
KSE ended today's session with the benchmark plummeting to the level of 6,752 points, way lower than the long-held 7,000-point "psychological barrier." The price index continued bleeding till last moments of closing the first week's session, shedding up to 233.8 points.
Trading has been characterized with unjustified declines and rumors amid traders in addition to selling pressures over stagnant shares.
The impact of the drop in oil prices on trading was violent, manifested in the random moves by traders, especially small ones fearing more losses, analyst Ali Al-Namash told KUNA.
It was noticeable today that traders had been affected by reports over the past two days of further fall of oil prices, he added.
Today's retreat at KSE continued a series of declines over the whole month, Analayst Adnan Al-Delimi told KUNA, noting that the price index failed to stop "the bleeding of points."