Logistics firms rise in Kuwait, Bahrain down

Kuwait's index continue to rise helped by a rally in logistics stocks, while Zain is trading flat as investors look for more details on the operator's deal with India's Bharti Airte. KGL Logistics Co rises 6.1 per cent, Mubarrad Transport rallies 5.4 per cent in early tarde. "Small and mid-cap shares are in focus now after Zain and there is some profit taking in some of the larger names. Until new details comes about Zain, markets will witness sideways trade," said Naser al-Nafisi, general manager for Al Joman Center for Economic Consultancy. The broader index rises 0.2 per cent to 7,434 points and is the only index trading in positive territory in the Gulf Arab region. Bahrain's index is down 0.1 per cent as bank shares drop. Khaleeji Bank is down 3.2 per cent while Ithmaar Bank drops 2.6 per cent.