Value of traded shares at Kuwait Stock Exchange (KSE) posted lowest fall at start of the past week, reaching KD 8.7 million, Al-Oula Brokerage Company said.
The company said in a report released on Saturday that the fall of the value turnover was the second to be recorded since last August. Nevertheless, hefty purchases in the later sessions of the past week pushed the price benchmark above the 7,000-point psychological barrier.
The KSE closed trading, on Thursday, bearishly, where the price index shed 21.9 point, reaching 7004 points. The weighted index fell by 2.18 points and Kuwait 15 by eight points.
Fall proportion of the price index, since start of the week, reached approximately 4.1 percent, but climbed 1.1 percent in the Wednesday session against the background of reports about intention of six groups to purchase bulk of stakes in Americana Group, thus pushing the group shares upward, 3.5 percent.
Performance of the KSE improved on Wednesday, buoyed by a wave of optimism after the benchmark crossed the 7,000-point psychological barrier. However, the bullish trend did not last long, and on Thursday the KSE fell by 21.9 points.
Traders' fears were fuelled with a chain of factors, namely absence of technical incentives, prevailing regional sensitive developments and random selloffs in the market.