Markets around the world are in a free-fall as the economic impact from COVID-19 infections gathers traction and investment sentiment turns bearish.
Boursa Kuwait reflected this sentiment as stocks piled on huge losses in trading on Sunday. The All Shares Index tumbled to 5306.83 points, dropping 481.21 points, led by blue-chip stocks of major banks, including National Bank of Kuwait and Kuwait Finance House. Volume and value wise the banking sector topped the rest of the sectors, shedding 63.9 million shares valued at KD32.3 million.
The market slipped into red in early trade after opening on a flat note. The BK 50 Main index fell 226.1 points to 4,516.87 points, the Main Market dropped 162.7 points to 4,432.95 points, and the Premier Market lost 640.55 points to reach 5,750.41 points, with trading stopped in the last hour after the market breached the 10 percent limit.
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