Kuwait stock exchange indices remain low amid profit pocketing

Main indexes of Kuwait Stock Exchange (KSE) dropped for the second consecutive day on Tuesday against background of profit pocketing covering small chips and a large number of blue-chips, fuelling fears leading players might abstain from intervention to stem the bearish trend. Managers of portfolios and investment funds targeted stocks, value of which varied between 28 and 272 fils, namely those of MARAKEZ, TAAMEER and MUBARRAD. Contrary to routine conditions, intensity of speculations tapered off in the last hour of today's session, particularly toward the shares, prices of which had snowballed in the first session following Al-Adha Eid, thus affecting deals in terms of quantity -- reaching 8,095 at a humble cash value of KD 38.8 million. Moreover, the market was abuzz with reports about companies' "humble" financial results, thus confusing traders who were anticipating hefty earnings. Analysts forecast similar conditions in Wednesday's sessions, unless listed companies reveal their financial performance in the year Q3. Meanwhile, Warba Bank stock was traded at 360 fils, with trade volume amounting to 16.1 million stocks, done through 1,841 deals, valued at KD 5.9 million. These figures indicated at investment groups' interest in acquiring as many as possible of Warba stocks, buoyed by the bank robust credibility. Warba Bank, of a paid-up capital of KD 100 million, offers various financial and banking services compatible with the Islamic Shariaa.