Kuwait bourse benchmark may cross 9000-point level

Kuwait Stock Exchange (KSE) posted during start of the past week trading highest level of gains, for the first time since four years ago, however the market dropped 0.3 percent in Tuesday's session. Al-Oula brokerage company said in a report released on Saturday the week operations closed with drop of the price index at 106.8 points, but the weighted index rose 1.24 and Kuwait-15 followed suit, putting on 9.75 points. Moreover, the bourse witnessed hefty purchasing operations, buoyed by substantial liquidity inflow that exceeded KD 100 million, but corrections and profit-pocketing resulted in loss of 130 points upon closing of the first session of the week. Upbeat sentiments and other prevailing factors may push the benchmark to cross the 9,000-point level, however analysts advise traders should be cautious and take into consideration some technical factors. High aspirations for execution of mega development and infrastructural projects and growth of corporate earnings have also contributed to boosting trade at the stock market.