Strong start for the stock market with gains of 446.5 million dinars

The Kuwait Stock Exchange began the week’s trading with a notable positive performance, as all market indices rose amid strong investor buying interest in numerous stocks, which reflected positively on the market’s overall performance and drove its indices to record collective gains.

This positive performance was supported by a calming of geopolitical tensions in the region, despite the continued uncertainty of the situation and the lack of clear indicators regarding its resolution, as well as the ongoing closure of the Strait of Hormuz. However, the prevailing sense of calm had a positive impact on trading activities and investor sentiment.

Circulating liquidity saw a significant increase, reaching a record level compared to the liquidity recorded in the early weeks of the month, amounting to 105 million dinars. The First Market continued to capture the largest share of this liquidity, accounting for 63 percent, while the Main Market took the remaining 37 percent.

Many stocks posted positive performance during the session, led by the “Mawashi” stock, which surged by more than 48 percent, followed by “Eva Hotels” with gains nearing 13 percent, alongside several other stocks that recorded varying degrees of increases.

Conversely, the decline in stocks that posted losses did not exceed 4.2 percent, while the number of rising stocks was approximately double that of declining ones.

A total of 132 stocks were traded, with prices rising for 79 stocks, falling for 39 stocks, and remaining stable for 14 stocks. Weighted indices rose for eight market sectors, led by the Technology sector with a 9.15 percent increase and the Energy sector with a 3.09 percent rise. Meanwhile, indices for five sectors declined, headed by the Healthcare sector with a 1.50 percent drop and the Consumer Services sector with a 0.80 percent decrease.

In terms of index performance, the General Market Index rose by approximately 74.63 points, equivalent to 0.85 percent, reaching a level of 8,892 points. A total volume of 389.6 million shares was traded through 23,209 transactions.

The First Market Index gained approximately 68.85 points, or 0.75 percent, reaching a level of 9,308 points, with a liquidity value of 65.9 million dinars and a volume of 198.9 million shares, executed through 10,555 deals.

The Main Index led the gains, rising by approximately 119.98 points, or 1.33 percent, closing at 9,108 points. The traded value reached 39.1 million dinars, with a trading volume of 190.6 million shares executed through 12,654 transactions.

As a result, market capitalization gains amounted to approximately 446.5 million dinars, bringing the bourse’s total capitalization to around 53.21 billion dinars, an increase of 0.84 percent compared to the level of approximately 52.76 billion dinars recorded at the close of Thursday’s session.

Regarding the most actively traded stocks by value, “Bitak” ranked first with a value of 9.1 million dinars, reaching a price of 777 fils. It was followed by “Kuwait Real Estate” with a value of 1 million dinars, reaching a price of 340 fils, then “Makhazen” with 5.08 million dinars, closing at a price of 162 fils, and “GFH” with 4.86 million dinars, reaching a price of 173 fils. Fifth was “Arkans” with 4.5 million dinars, reaching a price of 352 fils.

“Mawashi” topped the list of the most rising stocks with a 48.23 percent increase, trading 17.7 million shares to reach a price of 209 fils. It was followed by “Eva Hotels” with a 12.92 percent gain, trading 4.7 million shares to reach a price of 708 fils. Then came “Imtiyazat” with an 11.48 percent increase, albeit with only 565 shares traded, reaching a price of 369 fils, and “Al Kout” with a 9.92 percent rise, also trading only 275 shares, reaching a price of 875 fils. Fifth was “Yupack” with an 8.57 percent increase, trading 3.44 million shares to reach a price of 228 fils.

On the other hand, Midan’s share price fell by 4.22 percent, leading the list of the most declining stocks, with a trading volume of 1,446 shares, closing at 930 fils. It was followed by Shu’aybah, which dropped by 3.75 percent, with a trading volume of 649,400 shares, closing at 231 fils. Next was Wurba Capital, down 3.05 percent, with a trading volume of 819,400 shares, closing at 889 fils. Tazibah came fifth, falling 3.02 percent, with a trading volume of 3.38 million shares, closing at 289 fils. Finally, Unicab ranked fifth, declining by 2.53 percent, with a trading volume of approximately 1.44 million shares, closing at 270 fils.