Bourse maintains stability despite regional event uncertainty
The Kuwait Stock Exchange experienced a week filled with events, amid the ongoing military conflict in the region between the United States and Iran, alongside Iranian attacks targeting several countries in the area, which cast a shadow over various financial markets.
The performance of the Kuwait Stock Exchange during the week was characterized by volatility and instability, amid an atmosphere of caution and anticipation that dominated investors amid rapid developments and concerns related to geopolitical conditions.
Despite the unclear landscape and the acceleration of regional events, the stock market managed to maintain its cohesion and achieve slight gains for its general index by 0.013 percent, equivalent to 1.19 points, primarily supported by the performance of small and mid-cap stocks. The main market index rose by approximately 1 percent, or 84.91 points, while the First Market index declined by 0.18 percent, losing about 16.61 points.
All market variables declined during the week. Traded liquidity fell by approximately 13.1 percent to reach KD 339.7 million, compared to KD 391 million during the week ending on the 9th. The First Market accounted for the largest share of this liquidity at 54 percent, while the Main Market held the remaining share.
Traded volumes also decreased by 11.5 percent to reach 1.45 billion shares, down from 1.64 billion shares. The number of executed trades dropped from 108,192 to 95,213, a decline of 11.9 percent.
Regarding the last session of the week, all market indices recorded varying degrees of gains, led by the Main Market index, which continued its positive performance.
Several stocks showed strong performance, supporting the movement of indices. Livestock shares led the list of the most increased stocks with gains exceeding 17 percent, followed by Awal Fuels with gains nearing 9 percent, along with several other stocks that recorded noticeable increases.
Concurrently with the rise in indices, liquidity increased by 50.9 percent to reach KD 78.5 million, compared to KD 52 million during Wednesday’s session. The First Market accounted for the largest share of this liquidity at 53 percent, while the Main Market held the remaining 47 percent.
Approximately 133 stocks were traded, with 65 rising, 51 falling, and 17 remaining stable. Weighted indices rose for 9 sectors in the market, led by the Technology sector by 7.88 percent and Healthcare by 3.15 percent, while indices for 4 sectors declined, led by the Insurance sector by 1.03 percent and Energy.
In detail, regarding index performance, the General Market Index rose by approximately 14.58 points, equivalent to 0.17 percent, reaching 8,664 points, with 301.7 million shares traded through 19,949 transactions.
The First Market Index also rose by approximately 6.72 points, or 0.07 percent, reaching 9,073 points, with liquidity valued at KD 41.3 million and volumes of 94 million shares, executed through 8,248 transactions.
The Main Market Index gained approximately 54.97 points, or 0.62 percent, closing at 8,853 points, with a traded value of KD 37.1 million and a trading volume of 207.7 million shares, executed through 11,701 transactions.
Regarding the most actively traded stocks by value, Al-Watani topped the list with a turnover of 11.8 million dinars, closing at a price of 806 fils. It was followed by Al-Takhsis with 7.8 million dinars, reaching a price of 148 fils, then Awal Fuels with 5.3 million dinars, closing at 335 fils, and Bitak with 5.2 million dinars, reaching a price of 774 fils. Fifth was Tijara with 3.8 million dinars, closing at 190 fils.
Mawashi led the list of the most rising stocks, gaining 17.65 percent, with a volume of 6.3 million shares, reaching a price of 120 fils. It was followed by Awal Fuels, up 8.77 percent, with a traded volume of 15.9 million shares, closing at 335 fils, then Al-Anzima by 7.88 percent, with a turnover of 2.1 million shares, reaching a price of 753 fils, and Al-Sour by 7.55 percent, with a volume of 814,000 shares, closing at 285 fils. Fifth was Imtiaz, up 6.55 percent, with a turnover of 3,000 shares, reaching a price of 374 fils.
On the other hand, Unicap recorded a decline of 3.87 percent, leading the list of the most falling stocks, with a volume of 2.3 million shares, closing at 298 fils. It was followed by Batriolia by 3.76 percent, with a turnover of 1,000 shares, dropping to a price of 615 fils, then Watania by 2.86 percent, with a volume of 18.5 million shares, closing at 136 fils, and Al-Iaada by 2.78 percent, with a turnover of 2,500 shares, dropping to a price of 350 fils. Fifth was Mina, down 2.59 percent, with a volume of 1.4 million shares, closing at 113 fils.
