KSE weighted index up by 0.9%

31/12/2010 00:00 AST

Kuwait Stock Exchange (KSE) weighted index soared by 0.9 percent to settle at 484.17 points, while the price index was up by 1.1 percent to hit 6955.5 points, a specialized economic report said here Thursday.

The report released by Kuwait Financial Centre (KFC) added that the volume of trading this week was up by 24 percent as it hit some 1.07 billion shares at a value of 153.4 million Kuwaiti dinars to post a hike by 34 percent compared to last week.

The report pointed out that Average Daily Liquidity (ADL) hit some KD 41.19 million, while it amounted to KD 30.7 million last week.

It also said that the services sector attracted 47.6 percent of the value of shares traded this week with activity focusing on the shares of the National Bank of Kuwait (NBK) with 26.88 million trading shares this week at a value of KD 37.7 million, and with each share closing at KD 1.44 to post a hike by 5.9 percent.

It concluded that the services sector got 24 percent of the traded value this week followed by the investment sector by 9.5 percent.

In other news, the rate of the Kuwaiti dinar decreased to KD 0.280 against the US dollar on Thursday compared to Wednesday, settling at KD 0.371.

The Central Bank of Kuwait (CBK) said on its Web site that the rate of the national currency was up to KD 0.435 against the sterling pound, stood at KD 0.003 against the Japanese yen, and was at KD 0.297 against the Swiss franc.

The US dollar reached on Thursday its lowest rate against the euro in two weeks. It also decreased against the yen.

The decrease of the dollar against other major currencies came amid expectations that the world economy would revive.

KUNA