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KUWAIT CITY, Dec 22: Kuwait stocks pulled lower on Tuesday extending the losses to third consecutive session. The Al Shares Index gave up early gains to close 29.63 points down at 5,558.49 pts weighed mostly by blue chips even as the overall mood remained downbeat.
The Premier Market slid 41.98 pts to 6,080.49 points while Main Market gave up 4.15 pts. The BK 50 Main index fell 3.41 points to close at 4,609.74 pts. The volume turnover meanwhile hit a two-week low. Over 166 million shares changed hands – down 22 pct from the day before.
The sectors closed mostly in red turf. Insurance outshone the rest with 4.32 pct jump whereas Technology slid 3.71 percent, the biggest loser of the day. Volume wise, Financial Services topped the volume with 46.8 million shares while Banking sector continued to dominate with KD 15.7 million. Among the day’s losers, sector bellwether National Bank of Kuwait slipped 5 fils to 843 fils after trading 4.8 million shares and Kuwait Finance House followed suit to close at 677 fils with a volume of 6.2 million. Boubyan Bank too gave up 5 fils while Mabanee Co was down 10 fils at 656 fils extending an identical loss in the day before. NAPESCO dived 58 fils to KD 1.102. Zain eased 2 fils to 615 fils after pushing 3.5 million shares while Ooredoo inched 1 fil higher to 624 fils. stc took in 2 fils whereas logistics major Agility was down 8 fils at 676 fils with a volume of 3.5 million shares. Humansoft Holding shed 10 fils and Boursa gave up 4 fils before settling at KD 1.115. KIPCO was fl at at 153 fils after trading 1.2 million shares and KAMCO ticked 0.2 fils higher. National Investment Co and Noor Financial Investment stood pat at 135 fils and 171 fils respectively whereas KMEFIC took in 1 fils with razor thin volume. Gulf Insurance Co soared 68 fils to 748 fils while Gulf Insurance Co scaled 18 fils.