Bourse kicks off August with gains as regional tensions ease
The Kuwait Stock Exchange began its August trading session on a positive note, having closed all its indices in the green, benefiting from the easing of geopolitical tensions following US President’s statements canceling planned military strikes against Iran.
Tensions in the region had escalated significantly over the weekend, with the cancellation of the strikes announced early today, which had a positive impact on investor sentiment.
The gains were supported by selective buying in a number of stocks, led by blue-chip shares that drove market gains and helped lift the First Market Index.
Traded liquidity reached 58.2 million dinars, a level considered limited compared to market averages, but consistent with the usual pattern for the first trading session of the week, where activity typically starts slowly before picking up in subsequent sessions.
A number of stocks posted varying gains, with Al-Kout leading the list of the most increased stocks, while Equipment came at the top of the most declined stocks. Trading was characterized by divergence across different sectors, with investors continuing to focus on blue-chip shares.
A total of 129 stocks were traded, with prices rising for 67, falling for 41, and remaining unchanged for 21. Weighted indices rose for eight market sectors, led by the Real Estate sector with a 1.67 percent increase, and Basic Materials with a 1.43 percent rise. Meanwhile, indices fell for five sectors, headed by the Healthcare sector with a 3.28 percent drop, and Utilities with a 0.69 percent decline.
In terms of index performance, the General Market Index rose by approximately 39.78 points, or 0.45 percent, to reach 8,796 points. A total of 211 million shares were traded across 13,735 deals.
The First Market Index gained approximately 45.53 points, or 0.49 percent, to reach 9,261 points, with a liquidity value of 36.3 million dinars, trading volumes of 81.5 million shares, and 6,650 deals.
The Main Index rose by approximately 22.50 points, or 0.26 percent, closing at 8,759 points, with a traded value of 21.9 million dinars, trading volumes of 129.4 million shares, and 7,085 deals.
As a result, the market capitalization gains of the exchange reached approximately 231.5 million dinars, bringing the total market cap to 52.64 billion dinars, compared to 52.41 billion dinars at the close of last Thursday’s session, representing an increase of approximately 0.44 percent.
Regarding the most traded stocks by value, Baitak ranked first with a value of 10.2 million dinars, reaching a price of 789 fils, followed by National International Holding with 5.56 million dinars at a price of 190 fils, then National with 5.07 million dinars closing at 860 fils, Kuwait Finance House (KFH) with 2.63 million dinars at 154 fils, and Al-Binaa in fifth place with 1.98 million dinars, reaching a price of 962 fils.
Al-Kout topped the list of the most increased stocks with a 12.71 percent rise, trading 6,900 shares to reach a price of 878 fils. It was followed by KFH with a 6.21 percent increase, trading 17.44 million shares, then National International Holding with a 6.15 percent rise, trading 30.12 million shares, and Al-Emirati with a 5.93 percent increase, trading 3.39 million shares to reach a price of 143 fils. Al-Saleh rounded out the top five with a 5.48 percent gain, trading 1.38 million shares to reach a price of 404 fils.
On the other hand, the Equipment share recorded a decline of 6.52 percent, leading the list of the most-declining stocks, with a trading volume of 4.14 million shares, closing at a price of 215 fils. It was followed by Midan, which fell by 4.96 percent on a trading volume of 400 shares, dropping to a price of 978 fils, and then by Tamayoz, which declined by 4.17 percent but with a trading volume of only 50 shares, closing at a price of 345 fils. Al-Motakamila came next, down 2.38 percent, with a trading volume of 2.51 million shares, falling to a price of 410 fils, and fifth was Mashaaer, which dropped by 2.34 percent, with a trading volume of 3.03 million shares, closing at a price of 125 fils.
