Main Index Boosts Stock Market Gains, Rises Nearly 1%
The Kuwait Stock Exchange recorded a rebound in its indices during today’s (Tuesday) session. The main market index managed to rise, positively reflecting on the performance of the general market index, while the First Market index declined slightly.
The session was marked by volatility in index and stock movements, amid ongoing uncertainty in the regional landscape and the absence of serious indicators thus far regarding the possibility of reaching an agreement between the United States and Iran.
Despite this environment, many stocks posted positive performance. Bank Al-Bilad shares rose by more than 5 percent, leading the most-gained stocks in the First Market, alongside shares of Cables and Al Ahli. Meanwhile, Mizan topped the list of the most-declined stocks in that market, falling by more than 4 percent.
Some small and mid-cap stocks also saw notable gains, although some of these increases were supported by limited trading volume. Notable among them was Tamdeen Investment, which jumped by approximately 21 percent, along with Arkan, which recorded a rise exceeding 14 percent.
Trading liquidity during today’s session increased by 9.97 percent to reach approximately 98.7 million dinars, compared to 86.7 million dinars on Monday. The First Market continued to capture the largest share of this liquidity at 58 percent, while the Main Market accounted for the remaining 42 percent.
A total of 128 stocks were traded, with prices rising for 52 stocks, falling for 56 stocks, and remaining stable for 20 stocks. Weighted indices rose for eight sectors in the market, led by the Technology sector by 5.73 percent and Insurance by 1.53 percent. Conversely, indices fell for five sectors, headed by Consumer Goods by 3.57 percent and Energy by 1.51 percent.
In terms of index performance details, the General Market Index gained approximately 11.77 points, equivalent to 0.13 percent, reaching a level of 8,774 points. A volume of 384.1 million shares was traded through 23,681 deals.
The First Market Index declined by approximately 3.42 points, or 0.04 percent, to reach a level of 9,210 points, with liquidity valued at 57.2 million dinars and trading volumes of 182.2 million shares executed through 10,735 deals.
The Main Index rose by approximately 85.96 points, or 0.98 percent, closing at 8,861 points. The traded value amounted to 41.5 million dinars, with a trading volume of 201.8 million shares executed through 12,946 deals.
Regarding the most-traded stocks by value, Arkan ranked first with a value of 9.99 million dinars, reaching a price of 348 fils. It was followed by Baitak with 8.2 million dinars, reaching a price of 770 fils, then Bank Al-Bilad with 8.1 million dinars, closing at a price of 159 fils, and Trade with 5.6 million dinars, reaching a price of 140 fils. Fifth was Al Ahli Bank with 3.8 million dinars, reaching a price of 278 fils.
Tamdeen Investment topped the list of the most-gained stocks with a rise of 20.92 percent, albeit with only 656 shares traded, reaching a price of 1.052 dinars. It was followed by Arkan with a 14.10 percent increase, with a trading volume of 29.9 million shares. Next was Watania International Holding with an 8.43 percent rise, trading 13.4 million shares to reach a price of 193 fils, and Al Mawashi with a 6.56 percent increase, trading 3.2 million shares to reach a price of 130 fils. Fifth was Al Anzima with a 5.73 percent rise, trading 1.5 million shares to reach a price of 1.274 dinars.
On the other hand, Tasjeel shares fell by 7.28 percent to top the list of the most declining stocks, with a trading volume of 39.5 million shares, reaching a price of 140 fils. It was followed by Petrobel, which dropped by 4.98 percent, albeit with a trading volume of just 570 shares, bringing its price down to 668 fils. Mizan then came in third, declining by 4.28 percent on a trading volume of 1.13 million shares, closing at 1.117 dinars. Asia followed with a 3.26 percent drop, trading 1.3 million shares and falling to 41.6 fils. Fifth was Ajman, down 3.01 percent, but with a trading volume of only around 100 shares, closing at 129 fils.
