Stock Market Ignores Escalation as General Index Rises Marginally

The Kuwait Stock Exchange ignored the military escalation and geopolitical tensions gripping the region, as well as developments related to the Strait of Hormuz, closing with a marginal rise in its general index, primarily supported by gains in the Main Market index, while the First Market index recorded a limited decline.

Several small and mid-cap stocks posted notably positive performance, bolstering the general index. Al Amal City stock led the list of top gainers with a rise exceeding 11 percent, followed by shares of Kuwait Finance House (KFH), Madina, Al Kout, and Gulf Insurance, all of which posted gains surpassing 9 percent. However, some of these gains were driven by limited trading volumes.

Conversely, some stocks experienced profit-taking and relative selling pressure, as traders remained cautious regarding regional developments and their potential impact on markets.

Total traded liquidity reached approximately 60.1 million dinars, a level considered low compared to typical trading sessions. The Main Market accounted for the largest share of this liquidity at 51 percent, while the First Market captured the remaining 49 percent.

A total of 129 stocks were traded; 66 rose, 45 fell, and 18 remained unchanged. Weighted indices for nine sectors in the market advanced, led by the Healthcare sector with a 7.8 percent increase and the Insurance sector with a 3.41 percent rise. Meanwhile, indices for four sectors declined, headed by the Basic Materials sector with a 3.15 percent drop and the Consumer Goods sector with a 0.51 percent decline.

In terms of index details, the General Market Index rose by approximately 12.71 points, or 0.15 percent, to reach 8,676 points. A volume of 271.1 million shares was traded across 15,984 transactions.

The First Market Index fell by approximately 8.69 points, or 0.10 percent, to 9,081 points, with liquidity valued at 29.5 million dinars and trading volumes of 77.1 million shares executed through 5,836 transactions.

The Main Market Index led the gains, rising by approximately 116.32 points, or 1.33 percent, to close at 8,885 points. It recorded a traded value of 30.6 million dinars, with a trading volume of 193.9 million shares executed through 10,148 transactions.

Regarding the most actively traded stocks by value, National Bank of Kuwait (NBK) ranked first with a value of 4.4 million dinars, closing at 135 fils. It was followed by Boubyan Bank with 3.7 million dinars, closing at 771 fils, then Al Safa with 3.4 million dinars, closing at 208 fils, and Nur with 2.09 million dinars, closing at 427 fils. Fifth was Kuwait Investment Company with 1.8 million dinars, closing at 188 fils.

Al Amal City stock topped the list of biggest gainers with an 11.31 percent rise, trading 9.1 million shares to reach a price of 85.6 fils. It was followed by KFH with a 9.71 percent increase, trading 2.5 million shares to reach 192 fils, then Madina with a 9.57 percent rise, trading 1,305 shares to reach 950 fils, and Al Kout with a 9.32 percent gain, albeit with limited trading of 273 shares, closing at 809 fils. Fifth was Gulf Insurance with a 9.14 percent increase, also with limited trading of just 100 shares, closing at 1.301 dinars.

On the other hand, Boubyan Petrochemicals shares fell by 5.93 percent to top the list of the most declining stocks, with 902,800 shares traded, reaching a price of 619 fils. It was followed by Kufpec by 4 percent, with 127,600 shares traded, dropping to 120 fils, then Unicap by 3.12 percent, with 771,600 shares traded, closing at 311 fils, and Tahasilat by 2.70 percent, with 153,300 shares traded, dropping to 144 fils, and fifthly, Oula Takaful by 2.59 percent, with approximately 483,300 shares traded, closing at 226 fils.