472 million dinars in stock market losses
The Kuwait Stock Exchange incurred significant losses during its session today, as market indices witnessed sharp declines amid selling pressure affecting several leading and operational stocks, which negatively impacted the market’s overall performance.
This downturn coincided with escalating geopolitical tensions in the region, particularly following the expiration of the 60-day ceasefire period stipulated in the memorandum of understanding between the United States and Iran, alongside intermittent statements from both sides. These developments adversely affected trader sentiment and heightened caution in the market.
The market lost approximately 472 million dinars in capitalization during today’s session, bringing its total market cap to 52.43 billion dinars, down from 52.90 billion dinars recorded on Sunday, representing a decline of 0.89 percent.
Trading liquidity rose by 4.3 percent to reach 89.7 million dinars, compared to around 86 million dinars in the previous session. The First Market captured the largest share of this liquidity at 54 percent, while the Main Market accounted for the remaining 46 percent.
Despite the overall decline in indices, some stocks posted positive performance. Al-Anzima topped the list of the most increased stocks with a gain of 10 percent, while Tijara led the most decreased stocks with a drop of 16.5 percent.
A total of 130 stocks were traded, with prices rising for 24 stocks, falling for 95 stocks, and remaining stable for 11 stocks. Most weighted sector indices declined, led by the Consumer Goods sector, which fell by 2.14 percent, and the Real Estate sector, which dropped by 2.02 percent. Only one sector, Technology, saw its index rise by 9.85 percent.
In terms of index performance, the General Market Index recorded losses of approximately 79.34 points, equivalent to 0.90 percent, closing at 8,762 points. A total of 330.7 million shares were traded across 23,266 deals.
The First Market Index fell by approximately 80.47 points, or 0.87 percent, to reach 9,214 points, with liquidity amounting to 48.9 million dinars and trading volumes of 124 million shares executed through 9,684 deals.
Meanwhile, the Main Index suffered losses of approximately 93.35 points, or 1.05 percent, closing at 8,775 points. The traded value reached 40.8 million dinars, with a trading volume of 206.66 million shares executed through 13,582 deals.
Regarding the most traded stocks by value, Tijara ranked first with a value of 8.3 million dinars, closing at a price of 151 fils. It was followed by Arkan with 7.5 million dinars, closing at 305 fils, then Bitak with 6.98 million dinars, closing at 770 fils, and Al-Watani with 6.39 million dinars, closing at 853 fils. Fifth place went to Mazaren with 3.7 million dinars, closing at 151 fils.
Al-Anzima topped the list of the most increased stocks with a rise of 9.85 percent, trading 2.12 million shares to reach a price of 1.205 dinars. It was followed by Al-Taqaddum by 5.10 percent, albeit with only one share traded, closing at 536 fils. Third was Tamdeen Investment by 2.35 percent, trading 862 shares to close at 870 fils, then Al-Nakheel by 1.59 percent, trading 63,200 shares to reach 255 fils, and fifth was Portland by 1.56 percent, trading 43,100 shares to close at 653 fils.
On the other hand, Tajarah’s share price fell by 16.57 percent, leading the list of the most declining stocks, with a trading volume of 52.1 million shares. It was followed by Arkan, which dropped by 6.15 percent on a trading volume of 24.1 million shares, and then Midan, which declined by 4.99 percent on a trading volume of 4,590 shares, closing at a price of 971 fils. Al-Kout came next, down by 4.90 percent on a single share traded, falling to a price of 796 fils, and fifth was Manashat, which fell by 4.22 percent on a trading volume of approximately 2.1 million shares, closing at a price of 227 fils.
