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Stocks rebound in post-Eid trading, buoyed by market-makers.

| KUWAIT, Oct 20 (KUNA) -- As Kuwait stock trading resumed after Eid Al-Adha on Sunday, the three indices of the Kuwait Stock Exchange (KSE) went up thanks to the return of market-makers and investors' optimism.

The rise, which coincided with a breakthrough in the US budget crisis, made up for losses and drops incurred by Kuwaiti stocks ahead of the Muslim festival. But, some shares were not so active during today's trading sessions.

Small less-than-100-fils shares were highly demanded by upbeat individual investors who sought safe but fast profits.

With today's trading meeting analysts' expectations, market-makers reappeared to inject money into selected shares involving leading sectors, primarily banks, investment and services, backing a supposition that the market could see hikes.

There were really purchasing processes at the market today, clearly buoyed by portfolios and investment funds in order to improve the market situation. Amid this active purchasing wave, speculations, led by a key investment group, increased.

Kuwait Stock Exchange ended Sunday's trade on a green board as the weighted index gained 3.06 points, the price index hiked up 138.88 points, whereas the KSX 15 also finished on a gain of 4.71 points.

Trades came to 11,016 transactions worth KD 50,581,884.94, and volume was 678,604,399 shares. (end) KUNA 201542 Oct 13NNNN

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Publication:Kuwait News Agency (KUNA)
Date:Oct 20, 2013
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