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Kuwait Index Kicks Off Week On Upbeat Note, Volume Soars

Kuwait stocks pulled higher on Monday as it reopened after a five-day break. The All Shares Index gave up steeper early  gains  to close 34.19 points  down at  6,313.20 pts paced by some of the blue-chips and mid-caps even as the overall mood remained mixed.

The Premier Market rallied  47.35 points to  6,837.78 pts  taking the month’s gains to  214 points while Main Market added 4.51 pts. The BK Main 50 was up 23.63 points at  5507.37 pts. The volume turnover meanwhile soared past the 500 million mark. Over  579 million shares changed hands – a 52 pct surge from the previous session.All sectors, barring one, closed in green. Technology outshone the rest with  2.94 percent gain whereas Real Estate, the only loser, slipped 0.57 pct. Financial Services topped the volume with  242 million shares and  Banking was ahead in value with  37.6 million shares.Among the standouts, sector bellwether National Bank of Kuwait rallied 5 fils on back of 8.4 million shares to  837 fils while Kuwait Finance House scaled 7 fils with a volume of 14.4 million. Mezzan Holding jumped 26 fils to  680 fils and Boursa Kuwait Securities sprinted 42 fils. Kuwait Reinsurance Co darted  38 fils to  404 fils.Zain inched  1 fils higher to   603 fils on back of over 4 million shares and Ooredoo paced 13 fils before settling at  655 fils. stc shed 13 fils whereas logistics major Agility sprinted 29 fils to KD 1.088 taking the month’s gains to 140 fils. KIPCO eased 1 fil to 156 fils and National Investment Co gave up 3 fils. Mabanee Co tripped 1 fil and Humansoft Holding slid 42 fils to KD 3.600.

National Industries Group climbed 10 fils to 235 fils on back of over 16 million shares and Gulf Cable gained 11 fils. Boubyan Petrochemical Co slipped 7 fils to 918 fils partly erasing last session’s gains while Al Qurain Petrochemical Co added 3 fils. Jazeera Airways scaled 18 fils before closing at  699 fils whereas ALAFCO clipped 2 fils after pushing 2.3 million shares.

The  market opened firm and rose sharply in early trade. The main index scaled the day’s  highest level of  6,350 points  almost an hour into the session and drifted lower. It continued to retreat amid selling in some of the counters and closed  with moderate gains.

National Industries Group climbed 10 fils to 235 fils on back of over 16 million shares and Gulf Cable gained 11 fils. Boubyan Petrochemical Co slipped 7 fils to 918 fils partly erasing last session’s gains while Al Qurain Petrochemical Co added 3 fils. Jazeera Airways scaled 18 fils before closing at  699 fils whereas ALAFCO clipped 2 fils after pushing 2.3 million shares.

The  market opened firm and rose sharply in early trade. The main index scaled the day’s  highest level of  6,350 points  almost an hour into the session and drifted lower. It continued to retreat amid selling in some of the counters and closed  with moderate gains.

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