Stocks fall across the board as the main index drops 3.53%

The Kuwait Stock Exchange recorded varying declines across its indices, with some experiencing significant drops due to selling pressure that particularly targeted small- and mid-cap stocks. This was driven by an increased pace of selling and declines in several stocks resulting from speculative trading.

Despite the market opening with broad-based gains across its indices, speculative trading and profit-taking in most stocks led to varying losses for the indices. This occurred amid anticipation regarding the outcomes of meetings concerning the conflict between the United States and Iran, as well as rapidly evolving geopolitical developments in the region, which have instilled a sense of caution among traders.

The indices continued their upward trajectory until 10:30 a.m., before a wave of declines began. This downward trend intensified as selling activity accelerated across numerous stocks, impacting index performance and pushing several stocks to record notable drops during the session.

Trading liquidity rose by 35.5 percent to reach 121.1 million dinars, compared with 89.3 million dinars in Monday’s session. The Main Market captured the largest share of this liquidity at 55 percent, coinciding with increased selling and profit-taking, while the First Market accounted for the remaining 45 percent.

A group of stocks contributed to increased pressure on the indices. Al-Khaliji shares fell by approximately 43 percent, while Al-Nizama shares dropped by more than 14.5 percent. Several other stocks also recorded declines exceeding 7 percent, deepening the losses for the main market indices during the session.

A total of 132 stocks were traded, with prices rising for 17 stocks, falling for 104 stocks, and remaining unchanged for 11 stocks. Most sectoral weighted indices declined, led by the Consumer Goods sector, which fell by 14.58 percent, and the Financial Services sector, which dropped by 4.09 percent. In contrast, the indices for the Telecommunications and Energy sectors rose by 0.24 percent and 0.04 percent, respectively.

In terms of index performance details, the General Market Index declined by approximately 91.10 points, or 1.03 percent, to reach 8,755 points. Trading volume amounted to 421.7 million shares, executed through 30,027 transactions.

The First Market Index lost approximately 44.43 points, or 0.48 percent, to reach 9,138 points. Liquidity stood at 54.7 million dinars, with trading volumes of 150.6 million shares executed through 9,376 transactions.

The Main Market Index led the declines, dropping by approximately 332.67 points, or 3.53 percent, to close at 9,088 points. Trading value reached 66.3 million dinars, with volumes of 271 million shares executed through 20,651 transactions.

As a result, the stock exchange’s market capitalization suffered losses of 547.3 million dinars, representing a 1.03 percent decrease, bringing it to 52.43 billion dinars, compared with 52.98 billion dinars at the close of Monday’s session.

Among the most actively traded stocks by value, Al-Khaliji ranked first with a trading value of 11.1 million dinars, closing at 523 fils. It was followed by Tantheen, with 9.1 million dinars, closing at 294 fils; then Bank Al-Khaliji, with 6.5 million dinars, closing at 334 fils; and Bait Al-Takafeel (Baitik), with 6.1 million dinars, closing at 769 fils. Arzan ranked fifth with 5.9 million dinars, closing at 297 fils.

Nabisco topped the list of the most advanced stocks, rising 9.78 percent, but with only 303 shares traded, reaching a price of 1.516 dinars. It was followed by Al Ahlia Insurance, up 4.90 percent, with 200,000 shares traded, closing at 750 fils. Asas ranked third, gaining 2.82 percent, with 187,000 shares traded, closing at 182 fils. Bayt Al-Taqia (Energy House) followed, up 1.54 percent, with 1.47 million shares traded, reaching 263 fils. Fifth was Imtiyazat, up 1.37 percent, but with only 466 shares traded, closing at 370 fils.

On the other side, Al-Khaliji recorded a 42.97 percent decline, topping the list of the most declined stocks, with 18 million shares traded, closing at 523 fils. It was followed by Al-Nizama, down 14.58 percent, with 1.6 million shares traded, falling to 1.230 dinars. Watania ranked third, down 8.40 percent, with 9.6 million shares traded, closing at 120 fils. Tanziif followed, down 7.84 percent, with 30.2 million shares traded, falling to 294 fils. Fifth was Arkan, down 7.74 percent, with approximately 8 million shares traded, closing at 310 fils.