Stock Exchange Erases Year-to-Date Losses and Returns to Profitability
The Kuwait Stock Exchange witnessed a notable turnaround in its performance during today’s session, successfully erasing losses recorded since the beginning of the year, supported by a broad-based rise in its indices.
Market capitalization had incurred losses of 544.9 million dinars, representing a decline of 1.02 percent, by the end of Sunday’s session, before gaining 702.1 million dinars on Monday, bringing the total market capitalization to 53.34 billion dinars.
This improvement coincided with a 1.33 percent rise in the General Market Index, equivalent to 117.39 points, closing at 8,913 points. Meanwhile, the Main Market Index surged by 5.22 percent, adding approximately 457.42 points to reach 9,216 points, while the First Market Index rose by 0.55 percent, or 51.07 points, to reach 9,312 points.
The exchange drew support from easing geopolitical tensions in the region, alongside growing optimism about the possibility of reaching an agreement between the United States and Iran, which could end the uncertainty plaguing the area since late February. This had a positive impact on investor sentiment and increased demand for many listed stocks.
Additionally, the first-half results announced by several companies, which came in better than expected, bolstered buying activity in leading and operational stocks.
Trading liquidity rose by 44.4 percent to reach 84.1 million dinars, compared to 58.2 million dinars during Sunday’s session. The First Market accounted for the largest share at 75 percent, while the Main Market took the remaining 25 percent.
The session saw strong gains for several stocks, led by Gulf Insurance, which recorded the highest increase of 125.58 percent, albeit driven by a limited number of trades, prompting relevant authorities to review the index and its weights. Systems and Equipment and Al-Daira also posted gains, while Al-Kout topped the list of the most declined stocks.
A total of 131 stocks were traded, with prices rising for 68 stocks, falling for 41, and remaining stable for 22. Weighted indices rose for 10 sectors, led by the insurance sector by 50.24 percent and technology by 8.1 percent. Conversely, indices for three sectors—consumer goods, healthcare, and basic materials—declined by 1.2 percent, 1.1 percent, and 0.31 percent, respectively.
Trading volumes reached approximately 296 million shares, executed through around 19,491 deals. On the First Market, volumes amounted to about 169.6 million shares via 11,565 deals, while the Main Market recorded 126.4 million shares through 7,926 deals.
Regarding the most traded stocks by value, Baitak ranked first with a value of 10.8 million dinars, closing at 790 fils, followed by National Bank with 7.9 million dinars at 867 fils, then GFH with 7.1 million dinars at 176 fils, Arzan with 4 million dinars at 319 fils, and fifth, Boubyan Bank with 2.8 million dinars at 281 fils.
Khalij Insurance topped the list of the most-gained stocks, surging 125.58 percent on a volume of 8,700 shares, to reach a price of 2.707 dinars. It was followed by Al-Anzima, up 8.10 percent on a traded volume of 1.62 million shares, closing at 814 fils. Next was Al-Mu’addat, gaining 4.19 percent on a volume of 1.41 million shares, to close at 224 fils, and Al-Daira, up 3.71 percent on a volume of 382,300 shares, reaching 475 fils. Fifth was Bترولية (B Petroleum), rising 3.71 percent, albeit on a modest volume of just 253 shares, to close at 671 fils.
On the other side, Al-Kout stock led the list of the most-declined shares, dropping 9.57 percent on a volume of only 501 shares, to close at 794 fils. It was followed by Yopak, down 4.48 percent on a volume of 55,900 shares, falling to 192 fils, and then Umm Al-Quwain, declining 4.35 percent on a volume of 4,500 shares, closing at 132 fils. Ras Al-Khaimah-based Rasayes came next, down 3.99 percent on a volume of 1.891 million shares, dropping to 626 fils. Fifth was Sakb, falling 3.55 percent on a volume of 101,000 shares, to close at 462 fils.
