KUWAIT: Traders chat at the Kuwait Stock Exchange in Kuwait City. — KUNA

KUWAIT: Kuwait bourse, throughout the week, was marked with bearish indices and lackluster activity caused by several factors such as liquidity shortage, focus on stagnant chips and recurring bouts of rumors. This atmosphere, prevailing at the market since start of this month, is also attributed to absence of market makers.

Salah Al-Sultan, advisor at Arzaq Capital Holding, told Kuwait News Agency (KUNA) that Kuwait Stock Exchange (KSE) was affected, throughout the week, with direct and indirect factors, such as companies' financial results for Q2 (2016), most of which were "discouraging," in addition to withdrawal of some companies from the market, as well as dwindling liquidity. He predicted that this status quo, which actually dates back to early July, would persist till middle of September, when annual leaves by owners of key companies and traders end. Hamad Al-Hajri, a financial analyst, said the market is currently witnessing slow motivation - targeting some of the listed companies, which declared transactions and acquisitions.

The "lazy chips," along with those valued at 50-100 fils, Al-Hajri said, constituted "the most significant factor" in the past five sessions, forecasting higher demand in the middle of September. For his part, Mohammad Al-Tarrah opined that the market was distinguished with profit generation on some stocks that climbed in the past sessions, in addition to some incentives from operating companies that noticeably affected the trades' course throughout the week.

This situation is likely to remain prevailing next week unless new reports emerge about the transaction by the National Investments Group to acquire Americana. Yesterday's session witnessed activity targeting 23 companies that performed in a bullish manner, against 40 companies that incurred losses-out of 115 ones that involved in dealings. Kuwait-15 index, which reflects trades in blue-chips, drew 7.8 million shares, valued at KD 3.7 million, done in 254 cash deals, thus the index settled at end of the session at 808.9 points.

The KSE was affected, to a certain extent, by a variety of reports such Bahrain Central Bank's reception of a request from Al-Ithmaar Bank to shift its banking operations to Ab Capital and an explanation by Al-Mabani Company regarding the deal to manage and operate hotels at the Avenues Mall. The KSE ended yesterday trading in the red zone. The price index was down 6. 62 points to stand at 5,428.91 points, the weighted index was also down 0.53 points to read 348.37 points, and the KSX 15 index shed 2.07 points reaching 808.96 points. Value of trade was at KD 5.8 million while the volume was 47.2 million shares done through 1,453 deals. - KUNA