Stock market indicators stabilize despite regional developments
Kuwait Stock Exchange indices showed relative stability during today’s trading, despite continued volatility and divergent performance, driven by regional developments and growing fears that the United States and Iran may fail to reach an agreement, as well as the widening military conflict in the region.
Key indices moved in different directions: the First Market index posted a modest gain, while the Main Market index declined slightly, with the General Market index closing with limited gains.
Stocks saw varied gains not exceeding 6 percent, led by Kufpec shares, while other stocks suffered notable losses. Thura shares led the decline with a drop of nearly 30 percent, followed by Cinema shares, which fell by more than 14 percent, and Al Safa shares, which dropped by over 9 percent.
In terms of liquidity, trading value on Monday rose by 41.2 percent to reach 84.9 million dinars, compared to 60.1 million dinars on Sunday. The First Market accounted for the largest share of this liquidity at 56 percent, while the Main Market captured the remaining 44 percent.
A total of 132 stocks were traded; 58 rose, 55 fell, and prices remained stable for 19 stocks. Weighted indices rose for eight sectors, led by the Technology sector with a 2.63 percent increase and the Communications sector with a 1.01 percent gain. Conversely, indices fell for five sectors, headed by the Insurance sector with a 1.95 percent decline and the Consumer Services sector with a 1.71 percent drop.
Regarding index performance details, the General Market index rose by approximately 3.16 points, or 0.04 percent, to reach 8,679 points, with 406.2 million shares traded across 23,523 transactions.
The First Market index increased by about 9.02 points, or 0.10 percent, to reach 9,090 points, with liquidity valued at 47.6 million dinars, trading volumes of 168.8 million shares, and 9,594 transactions.
Meanwhile, the Main Market index fell by approximately 23.64 points, or 0.27 percent, closing at 8,861 points, with a trading value of 37.3 million dinars, 237.4 million shares traded, and 13,929 transactions.
In terms of most traded stocks by value, Makhazen ranked first with 7.9 million dinars, closing at 143 fils, followed by Watania with 6.3 million dinars at 136 fils, and Al Safa with 5.3 million dinars, closing at 189 fils. Bank of Kuwait (BK) ranked fourth with 5.2 million dinars at 772 fils, and GFH ranked fifth with 4.3 million dinars at 177 fils.
Kufpec topped the list of most rising stocks with a 5.583 percent gain, trading 96,300 shares to close at 127 fils. Al Aqaria followed with a 5.75 percent increase, trading 2.2 million shares to reach 68 fils. Watania DQ came third with a 5.48 percent rise, trading 6.6 million shares to close at 154 fils. Ared ranked fourth with a 4.71 percent gain, trading 57,100 shares to reach 1.890 dinars. Al Inma ranked fifth with a 4.27 percent increase, trading 8 million shares to close at 122 fils.
On the other hand, Thura shares recorded a decline of 29.62 percent, leading the list of most falling stocks, with 10 million shares traded to close at 202 fils. Cinema followed with a 14.18 percent drop, trading 36,000 shares to fall to 1.120 dinars. Al Safa ranked third with a 9.13 percent decline, trading 27.3 million shares to close at 189 fils. Hotels ranked fourth with a 7.87 percent drop, trading 20,800 shares to fall to 164 fils. GTI ranked fifth with a 5.84 percent decline, trading 311,000 shares to close at 435 fils.
