Kuwait Stock Exchange Suffers KD 394 Million Losses in First October Sessions... 'Main Index' Drops 1.48%

The Kuwait Stock Exchange began its October trading and the final quarter of the year with a broad decline across its indices, amid expanding selling pressure that affected a wide range of stocks throughout the session. The market lost approximately 394.1 million dinars in market capitalization in a single session, with the Main Market recording the largest loss among indices, dropping 1.48 percent.

The start of October contrasted with the market’s performance during the third quarter, when indices managed to post varied gains. Selling pressures returned to dominate trading, while liquidity fell below the levels seen on the final session of September, coinciding with declines in eight sectors.

The General Market Index closed down 0.75 percent, or 65.67 points, at 8,713.71 points. The Main Market suffered the largest loss, falling 1.48 percent, or 134.95 points, to 8,959.69 points.

The First Market Index declined 0.59 percent, or 54.33 points, closing at 9,113.60 points. Meanwhile, the Main 50 Index dropped 0.99 percent, losing 101.17 points to 10,111.43 points.

These declines were reflected in the market’s total market capitalization, which fell to approximately 52.188 billion dinars, down from 52.582 billion at the close of the previous session, recording losses of about 394.07 million dinars, or roughly 0.75 percent.

Trading volume reached approximately 74.55 million dinars, with 236.83 million shares changing hands across 20,679 transactions.

Compared to liquidity of about 88.1 million dinars in the previous session, trading value decreased by approximately 15.4 percent, while trading volumes fell from about 289.1 million shares to 236.8 million, a drop of roughly 18.1 percent.

The Technology sector led the losses with a 9.09 percent decline, followed by the Healthcare sector at 5.05 percent, Basic Materials at 2.34 percent, Industry at 1.77 percent, and Insurance at 1.36 percent. The Financial Services sector fell 0.86 percent, Real Estate 0.82 percent, and Banks 0.80 percent.

Conversely, the Consumer Goods sector rose 2.49 percent, Energy 2.37 percent, Telecommunications 0.33 percent, and Consumer Services 0.06 percent, while the Utilities sector remained unchanged.

On an individual stock basis, Petrochemicals led the gainers with a 9.59 percent increase, followed by KAMCO at 4.69 percent, Sahel at 3.93 percent, Kuwait T at 3.07 percent, and Mizan with gains of 2.86 percent.

On the other side, Tamdeen A led the decliners with an 18.38 percent drop, followed by Al Tadamun at 9.20 percent, Al-Anzima at 9.09 percent, Al-Kout at 8.07 percent, and W. Real Estate at 7.22 percent.