Kuwait Stock Exchange Loses 60 Percent Over Britain's Exit From Eu

Dealings at Kuwait Stock Exchange (KSE) on Sunday suffered big losses on the backdrop of Britain's exit from the European Union through a referendum where the price index of the market lost about 60 points to reach 5,347 points.

Despite the decline in most listed sectors, however, the market was able to modify some price levels for many of the stock closings, as the last hour of the sessin was slightly solid, especially towards the large operational stocks in the most important sectors amid selling pressure and speculation.

The KSE's dealings opened on a decline influenced by the repercussions of Britain's exit from the European Union making the price index to lose 1.4 percent, weighted 1.9 percent and Kuwait 15 losing about 2.5 percent. The sectoral indices were in the red zone, chiefly the banks index, which lost about two percent.

Shares of 16 companies rose whereas shares of 73 companies dropped out of the total 112 companies. The components of Kuwait 15 share index acquired shares valued 6.9 million dinars (kd) through 636 cash transactions, ending the session at the level of 802.4 points.

The shares of the INVESTORS, COAST, GPI, AAYAN and HITSTELEC were the leaders in volume, as those of the GFC, NOOR, NIH, FUTURE and KGL were top gainers.

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