Boursa Kuwait edges lower

KUWAIT: Boursa Kuwait shares edged lower on Monday, closing 69.19 points lower at 8232.71, down 0.83 percent. A total of 203.15 million shares were traded through 13,431 cash transactions worth KD 70.2 million (about $245.7 million). The main market index fell 61.50 points to 44.6474, down 0.94 percent from 109 million shares in 5,717 cash transactions worth KD 18.4 million (about $64.4 million). The first market index fell 73.56 points to 9,094.66 points, down 0.80 percent from 94 million shares in 7,714 trades worth KD 51.8 million (about $181.3 million).

The Main Index (Main 50) fell 87.03 points to 6,645.30, down 1.29 percent from 91.4 million shares in 3,761 cash transactions worth KD 13.3 million (about $46.5 million). Meanwhile, stock markets across the Gulf countries were mixed on Monday as crude prices remained steady.

Dubai’s main share index remained flat, after jumping 1.7 percent in the previous week following Dubai Electricity and Water Authority’s (DEWA) market debut. Gains in the real estate sector were offset by losses in financials. Abu Dhabi index slipped 0.3 percent while Qatar’s benchmark index shed 0.2 percent, extending losses on profit-taking. Saudi Arabia’s benchmark index was also flat.

Oil prices were stable on Monday as concerns over slowing demand in China forced investors to book profits on gains made earlier in the day on worries over tight supply and the escalating crisis in Ukraine.

Brent crude fell 19 cents, or 0.2 percent, to $111.51 a barrel, sliding from the highest since March 30 of $113.80 hit earlier in the session. US West Texas Intermediate was down 19 cents, or 0.2 percent, at $106.76. Authorities in Ukraine’s Western and Southern regions of Lviv and Dnipropetrovsk reported multiple explosions on Monday. – Agencies

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