Limited decline in stock market indices with liquidity of 78 million dinars

The Kuwait Stock Exchange recorded a very limited broad decline in its indices, bringing them closer to stability during Tuesday’s session, following the gains achieved on Monday, as the market continues to lack the catalysts needed to support further gains.

The exchange opened higher but quickly lost its early gains due to selling pressure on certain stocks during trading.

The session was characterized by calmness and anticipation of geopolitical developments, which was reflected in stock performance. The highest gain was for Al-Manar stock, which rose by 5 percent, while Al-Kout topped the list of the most declining stocks, dropping by 11.65 percent, albeit with limited trading volumes.

Trading liquidity increased by 9.7 percent to reach 78 million dinars, compared to 71 million dinars on Monday. The First Market accounted for the largest share of this liquidity at 62 percent, while the Main Market held the remaining 38 percent.

A total of 135 stocks were traded; 51 rose, 55 fell, and 24 remained unchanged. Weighted indices declined in eight sectors, led by the Basic Materials sector, which fell by 1.81 percent, and the Technology sector, which dropped by 1.76 percent. Conversely, indices rose in five sectors, led by the Insurance sector, which gained 1.43 percent, and the Energy sector, which rose by 0.47 percent.

Regarding index performance, the General Market Index fell by approximately 6.14 points, or 0.07 percent, to close at 8,620 points. A total of 310.2 million shares were traded across 19,793 deals.

The First Market Index also declined by approximately 4.23 points, or 0.05 percent, to reach 9,039 points. Trading volume amounted to 48.1 million dinars, with 110.8 million shares exchanged through 9,484 transactions.

The Main Index dropped by approximately 16.59 points, or 0.19 percent, closing at 8,753 points. The traded value was 29.8 million dinars, with 199.3 million shares traded via 10,309 deals.

In terms of most-traded stocks by value, Bitak ranked first with a value of 14.9 million dinars, closing at 767 fils. It was followed by Al-Watani with 10.9 million dinars, closing at 814 fils, then Al-Taksees with 5.3 million dinars, closing at 148 fils, Watania with 3.05 million dinars, closing at 134 fils, and fifth was Al-Imaratiya with 2.5 million dinars, closing at 147 fils.

Al-Manar topped the list of the most rising stocks, gaining 4.59 percent, with 1.67 million shares traded, closing at 114 fils. It was followed by Argan, which rose 4.27 percent, with 9.06 million shares traded, closing at 122 fils. Next was Gulf Insurance, up 3.75 percent, with only 223 shares traded, closing at 1.051 dinars. Muttahida rose 3.57 percent, with 2.82 million shares traded, closing at 290 fils, and Injazat ranked fifth with a 3.31 percent gain, trading just one share, closing at 156 fils.

On the other hand, Al-Kout recorded the largest decline of 11.65 percent, leading the list of most falling stocks, though with only 195 shares traded, closing at 751 fils. It was followed by Al-Taqaddum, down 6.73 percent, with 2,011 shares traded, closing at 513 fils. Then came Iktitaab, down 5.31 percent, with 17.67 million shares traded, closing at 33.9 fils. Mintazahat fell 4.80 percent, with 1.28 million shares traded, closing at 119 fils, and fifth was Al-Imaratiya, down 4.55 percent, with 16.08 million shares traded.