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KSE bearish contrary to forecast.

| KUWAIT, Oct 21 (KUNA) -- Various negative factors, namely profit pocketing and speculations, noticeably contributed to bearish trend of Kuwait Stock Exchange (KSE) in Monday's sessions that ended with the main indices in the red zone.

Contrary to analysts forecast on Sunday that the market will take a new approach, upward, speculators bamboozled traders with some of their tactics in today's session, thus pushing the market downward.

Price index was forecast to hit the 8,000-point level, however, absence of trades on stocks of operational companies and dominance of small chips kept the trend downward.

Moreover, today's session witnessed withdrawal of market makers after generating profits from selling some stocks, prices of which soared in yesterday's session.

Identical conditions at the market are forecast tomorrow, pending disclosure of financial statements by the listed companies for Q3 of 2013. (end) mke.tb.rk KUNA 211441 Oct 13NNNN

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Publication:Kuwait News Agency (KUNA)
Date:Oct 21, 2013
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