Selling Pressure and Correction Push Kuwait Stock Market Indices Down Mid-Session

Kuwait Stock Exchange indices declined during midday trading on Tuesday, amid selling pressure affecting several stocks, coinciding with profit-taking and corrections on shares that had posted strong gains in recent sessions. Additionally, the approaching end of the third quarter and regional geopolitical developments have added to investor caution.

The pressure extended to the Main Market, whose index fell 0.15 percent to 9,128.24 points, while the Main 50 index was the worst performer among indices, dropping 0.82 percent to 10,295.52 points.

The declines were accompanied by notable trading activity, with liquidity reaching approximately 58.54 million Kuwaiti dinars at midday, through the trading of about 184.96 million shares across 12,400 transactions.

Trading movements indicate that selling pressure is not concentrated in one direction; sales of some leading stocks coincide with clear corrections in several shares that had experienced strong gains in previous sessions.

Conversely, trading activity in the First Market shows selling pressure on a segment of leading stocks, which impacted the First Market index despite liquidity remaining at active levels. The session also coincides with the end of the third quarter, a period that typically sees investors rebalancing portfolio positions and investment weights ahead of financial period closures, alongside profit-taking and greater selectivity in building positions.

Furthermore, ongoing caution regarding geopolitical developments may prompt investors to reduce risk exposure or delay establishing new positions. However, the liquidity level recorded at midday simultaneously indicates that market activity continues.

On an individual stock basis, Assas topped the gainers list with a rise of 5.08 percent, followed by Al-Khousousia by approximately 2.67 percent, then Tansil by 2.58 percent, Iktibat by 2.45 percent, and Petrochemical by 1.90 percent.

On the other hand, Al-Anzima led the decliners with a loss of 14.97 percent, followed by Imtiazat by 13.64 percent, then Hotels by 4.92 percent, Abar by 3.48 percent, and Markaz by 3.32 percent.

Regarding traded value, Eeva led activity with liquidity of approximately 8.84 million dinars and a 1.48 percent increase, followed by Arzan with approximately 8.27 million and a 1.33 percent rise, then Oula Takaful with approximately 3.99 million and a 1.35 percent decline, and Zain with approximately 2.89 million and a 1.98 percent drop, while Al-Anzima’s trades amounted to approximately 2.77 million dinars despite its significant decline.