Main indices of Kuwait Stock exchange (KSE) posted gains in early trades on Monday, maintaining a positive tendency of the past day and last week.
The weighted index read 429.79, gaining 1.02 points, the price index stood at 6,110.09, putting on 0.75 points and the KSX 15 index reached 1,038.94, gaining 2.81 points.
Number of trades reached 319, value of traded shares KD 2,046,249.07 and volume of the exchanged stocks 30,140,870.
The KSE indexes ended the Sunday trading in green. The weighted index closed yesterday's session at 428.77 points, up by 2.2 points, while the price index was at 6,109.34 points, gaining 41.5 points, and the KSX 15 was also green at 1,036.13, an increase by 2.8 points.
According to a report released by Bayan Investment Company, on Saturday, the Kuwaiti bourse ended the past week on a positive note due to selective clamoring on blue chip stocks and small but dividend-yielding stocks, said a report by Bayan Investment Co., which came out on Saturday.
For the first time in seven months the price index topped the 6000 point threshold, spurred by voracious buying of the most active stocks during the week, especially those of the banking sector, said the report.
Some of the dividend-earning purchases were instigated by the customary tendency on the part of many investors toward speculative buying and selling of popular shares.
Market watchers predict that in the few coming days, the level of liquidity will rise measurably due to investor perception that many companies have surpassed the economic crisis hump and were at the cusp of becoming a lot more flush with cash and ready to trade with confidence, said a report that came out today by the Al-Oula Brokerage Co.
The report indicated that this past week's robust market performance was also due in part to government infusion of funds into the market through its strong investment arms such as the Kuwait Investment Authority.