Decline Wave Continues in the Stock Market

The Kuwait Stock Exchange began this week’s trading amid a wave of declines that dominated its performance during several sessions last week, with market indices closing lower across the board as selling pressures persisted and caution among traders remained high.

Although the exchange opened with a broad rise in indices, this upward trend did not last, as several stocks came under selling pressure, driving their prices down at varying rates. This negatively impacted index performance, pushing them to close in the red.

These movements come at a time when several negative factors continue to weigh on investor sentiment, foremost among them regional uncertainty and fears regarding the potential resumption of war, given the lack of clear signs that the tension gripping the region is subsiding.

Investors are also awaiting corporate earnings results for the first nine months of the year, which will reveal the financial performance of listed companies during a period marked by tension and instability.

Notably, trading liquidity dropped to 60.6 million dinars, deviating from the pattern seen in recent weeks at the start of the trading week, which was characterized by higher liquidity levels.

The First Market continued to capture the largest share of this liquidity, accounting for 55 percent, while the Main Market took the remaining 45 percent.

Despite the overall negative market performance, there were positive moves in several small and mid-cap stocks, which recorded notable gains during the session, although some of these increases were driven by limited trading volumes.

The stock of Tamayoz led the list of top gainers with a rise exceeding 35 percent, followed by Al-Anzima, which climbed more than 21 percent, and Ajyal, which rose by over 19 percent.

A total of 133 stocks were traded, with 39 rising, 83 falling, and 11 remaining unchanged. Weighted indices declined in nine sectors, led by the Healthcare sector, which fell by 1.97 percent, and the Consumer Goods sector, which dropped by 1.78 percent. Meanwhile, indices rose in four sectors, headed by the Technology sector, which surged by 21.03 percent, and the Real Estate sector, which increased by 0.52 percent.

In terms of index performance, the General Market Index fell by approximately 23.74 points, or 0.27 percent, to close at 8,689 points. A total of 225.8 million shares were traded through 19,130 transactions.

The First Market Index also declined by about 28.79 points, or 0.32 percent, to reach 9,084 points, with liquidity valued at 33.6 million dinars and trading volumes of 85.1 million shares executed through 6,269 deals.

The Main Index dropped by approximately 5.79 points, or 0.06 percent, closing at 8,953 points. The traded value amounted to 26.9 million dinars, with 140.7 million shares exchanged through 12,861 transactions.

Regarding the most actively traded stocks by value, Baitak ranked first with a value of 6.8 million dinars, closing at a price of 770 fils. It was followed by Awal Takaful with 3.2 million dinars, closing at 681 fils, then Sahel with 3.1 million dinars, closing at 84 fils, and Kuwait Investment Company with 2.1 million dinars, closing at 183 fils. Al-Anzima ranked fifth with 2 million dinars, closing at 944 fils.

Emtiazat shares led the list of the most rising stocks, gaining 35.28 percent, with a trading volume of 4,700 shares, reaching a price of 441 fils. They were followed by Anzima by 21.03 percent, with a traded volume of 2.28 million shares, then Aijal by 19.41 percent, with a trading volume of 5,020 shares, reaching a price of 363 fils, and Hotels by 8.51 percent, but with only 13 shares traded, reaching a price of 255 fils, and fifth was Al Arabiya Real Estate by 6.11 percent, with a trading volume of 4.7 million shares, reaching a price of 191 fils.

On the other hand, Al Tadamun shares recorded a decline of 9.46 percent, leading the list of the most falling stocks, but with only 650 shares traded, reaching a price of 536 fils. They were followed by Ahlia for Insurance by 9.43 percent, with a trading volume of 23,100 shares, dropping to a price of 788 fils, then Sahel by 9.19 percent, with a trading volume of 36.12 million shares, and Al Emirati by 7.09 percent, with a trading volume of 3.74 million shares, dropping to a price of 131 fils, and fifth was Petroliac by 5.37 percent, with a trading volume of about 30,100 shares, closing at 757 fils.