The Kuwait Stock Exchange (KSE) Price Index failed to react positively on increasing  oil prices and settled at 7,844.4 points (down 0.59%), with all sectoral indices losing territory.

 The sources informed that telecom operator Zain has witnessed a slump of 5.47% (ending at KD1.380) on profit booking.

Al-Abraj Holding recorded the biggest profit as the stock ended up 9.26%.

According to Bank of America Securities Merrill Lynch the present spike in oil should be regarded with care as demand for gas oil and diesel in OECD countries is currently running 0.8 million b/d below last year and distillate inventories are at extremely high levels heading into the winter.