Stock Market Falls for Second Consecutive Week, Losing 735.9 Million Dinars

The Kuwait Stock Exchange experienced a week characterized by selling pressure affecting numerous stocks, amid a climate of caution and anticipation among traders due to ongoing geopolitical tensions and fears of a resumption of war, alongside portfolio rebalancing and the closing of the third quarter. These factors were reflected in trading activity and index performance throughout the week’s sessions.

Kuwait Stock Exchange indices declined collectively for the second consecutive week, with notable drops across various sectors as selling activity dominated while traders remained cautious.

The main market index led the losses, falling by 2.17 percent, or 199.5 points. The First Market index decreased by approximately 1.22 percent, equivalent to 113.48 points. Consequently, the General Market index fell by 1.39 percent, losing about 12.3 points.

As a result, the exchange incurred market losses valued at 735.9 million dinars, bringing the market capitalization to 52.18 billion dinars, a decline of 1.39 percent compared to the 52.92 billion dinars recorded at the close of the week ending September 24.

All market variables declined. Traded value dropped by 6.1 percent to reach 476.1 million dinars, compared to liquidity of 507.1 million dinars at the end of the week ending September 24.

The First Market continued to capture the largest share of this liquidity, accounting for 59 percent, or 279 million dinars, while the Main Market held the remaining 41 percent, equivalent to 197 million dinars.

Traded volumes decreased by 6.7 percent to 1.67 million shares, compared to 1.79 million shares previously. The number of transactions also fell by 9.8 percent to 115,271 deals, down from 127,833.

Regarding yesterday’s session, the exchange continued its downward trend, incurring additional losses amid persistent selling pressure on many stocks. This occurred against a backdrop of anticipation regarding geopolitical developments and their impact on investor sentiment and market movement.

Traded liquidity dropped by 15.3 percent to approximately 74.5 million dinars, compared to 88.1 million dinars in the previous session. The First Market captured the largest share of this liquidity at 59 percent, while the Main Market took the remaining 41 percent.

Despite the overall negative market performance, some stocks posted positive results, although gains in certain cases were accompanied by limited trading volumes. Petroliac led the gainers with an increase exceeding 9.5 percent, while KAMCO rose by more than 4.6 percent.

A total of 132 stocks were traded; prices rose for 35 stocks, fell for 73 stocks, and remained stable for 24 stocks. Weighted indices for eight sectors declined, led by the Technology sector, which fell by 9.09 percent, and the Healthcare sector, which dropped by 5.05 percent. Conversely, indices for four sectors rose, led by the Consumer Goods sector with a 2.49 percent increase and the Energy sector with a 2.37 percent rise, while the Utilities sector remained stable.

In terms of index details, the General Market index fell by approximately 65.67 points, or 0.75 percent, to reach 8,713 points. A total of 236.8 million shares were traded through 20,679 deals.

The First Market Index lost approximately 54.33 points, or 0.59 percent, to close at 9,113 points, with a trading value of 44.3 million dinars, a volume of 90.7 million shares, executed through 7,837 transactions.

The main index led the declines, losing approximately 134.95 points, or 1.48 percent, to close at 8,959 points, with a trading value of 30.2 million dinars, a volume of 146 million shares, executed through 12,842 transactions.

Regarding the most actively traded stocks by value, Bitak ranked first with a value of 7.9 million dinars, closing at a price of 770 fils, followed by Sanam with 4.9 million dinars, closing at 370 fils, then National with 4.8 million dinars, closing at 840 fils, Sahel with 3.8 million dinars, closing at 92.5 fils, and fifth was Eiva with 3.4 million dinars, closing at 475 fils.

Petromedia topped the list of the most rising stocks with a gain of 9.59 percent, albeit with a low volume of 902 shares, closing at 800 fils, followed by KAMCO with a 4.69 percent increase, trading 55,300 shares, closing at 201 fils, then Sahel with a 3.93 percent rise, trading 41.4 million shares, Kuwait Insurance with a 3.07 percent gain, trading 34,000 shares, closing at 437 fils, and fifth was Mezan with a 2.86 percent increase, trading 1.02 million shares, closing at 1.114 dinars.

On the other hand, Tamdeen Investment stock recorded a decline of 18.38 percent to top the list of the most falling stocks, albeit with only 833 shares traded, closing at 1.061 dinars, followed by Al Tadamun with a 9.20 percent drop, trading 13,700 shares, falling to 592 fils, then Al Anzima with a 9.09 percent decline, trading 2.77 million shares, closing at 780 fils, and Al Kout with an 8.07 percent drop, trading only 428 shares, falling to 763 fils, and fifth was Al Arabiya Real Estate with a 7.22 percent decline, trading approximately 3.15 million shares, closing at 180 fils.