Collective declines in stock market indices with 58.4 million dinars in liquidity
The ongoing military escalation between the United States and Iran, along with rising regional tensions and attacks targeting several countries, including Kuwait, and hitting civilian and vital facilities, negatively impacted the performance of the Kuwait Stock Exchange in its first weekly session, amid a climate of caution and anticipation among investors.
The exchange witnessed volatility in its indices, opening with a broad decline that deepened during the first hour of trading, before the indices managed to recoup part of those losses by the end of the session.
Despite geopolitical pressures and rapid developments, the market showed a degree of resilience compared to the scale of events unfolding in the region, with recorded declines remaining within a reasonable range. Many stocks managed to post positive performance despite the overall negative market sentiment, led by the “Al-Mawashi” stock, which rose by more than 8 percent, while the “Al-Khassiya” stock recorded gains nearing 7 percent.
Traded liquidity stood at 58.4 million dinars, a low but normal level given the current circumstances and the market’s wait-and-see attitude regarding future developments.
The First Market accounted for the largest share of this liquidity at 59 percent, while the Main Market captured the remaining 41 percent.
Approximately 132 stocks were traded; 21 rose, 93 fell, and prices remained stable for 18 stocks. Weighted indices declined in 12 out of 13 sectors, with the Insurance sector leading the losses at 3.82 percent, followed by Basic Materials at 2.55 percent. Only one sector, Consumer Goods, rose by 2.63 percent.
In terms of index performance, the General Market Index fell by approximately 46.67 points, or 0.54 percent, to close at 8,617 points. A total volume of 246.3 million shares was traded across 17,271 deals.
The First Market Index also declined by approximately 38.23 points, or 0.42 percent, to reach 9,035 points, with liquidity valued at 34.6 million dinars and a volume of 102.1 million shares executed through 7,959 deals.
The Main Index lost approximately 97.61 points, or 1.10 percent, closing at 8,756 points, with a traded value of 23.7 million dinars and a volume of 144.2 million shares executed through 9,312 deals.
Regarding the most actively traded stocks by value, Bitik ranked first with 8.9 million dinars, closing at 770 fils. It was followed by Al-Watani with 4.4 million dinars, closing at 803 fils, then Al-Takhsis with 3.3 million dinars, closing at 146 fils, GFH with 2.9 million dinars, closing at 169 fils, and fifth was Mazoon with 2.8 million dinars, closing at 145 fils.
Al-Mawashi topped the list of the most rising stocks with an 8.33 percent gain, trading 6.5 million shares to close at 130 fils. It was followed by Al-Khassiya, up 6.80 percent, with a traded volume of 9.9 million shares closing at 267 fils. Hotels ranked third, rising 3.53 percent on a volume of 7,000 shares, closing at 176 fils. Cinema rose 3.21 percent on a low volume of 150 shares, closing at 1.156 dinars. Fifth was Kuwait Finance House (KFH), up 2.78 percent, trading 163,000 shares to close at 740 fils.
On the other hand, Gulf Insurance’s share fell by 9.48 percent, topping the list of the most declining stocks, albeit with a modest trading volume of just 371 shares, closing at a price of 1.060 dinars. It was followed by Al-Khaliji, which dropped by 6.12 percent on a trading volume of 168,400 shares, closing at 522 fils. Next was Al-Kout, down 4.95 percent on a volume of only 201 shares, closing at 845 fils, and then Tamayoz, which fell 4.81 percent on a volume of 25 shares, closing at 356 fils. Fifth was Tijara, down 4.21 percent on a trading volume of 14.8 million shares, closing at 182 fils.
