Stock Market Partially Rebounds Amid Mixed Indicators

The Kuwait Stock Exchange saw a limited rebound in the performance of some of its indices, marking the first positive movement in several sessions characterized by continuous large losses and declines, amid efforts to restore balance after a wave of pressures that affected the market in recent days.

The session’s performance was highly volatile. Indices began trading with solid gains, supported by positive announcements from some banks and companies that exceeded expectations, especially given the exceptional circumstances the region is undergoing. However, gains were later erased as selling pressures intensified during the session.

Regional developments continue to cast a shadow over the stock market’s performance, outweighing positive reactions to announced corporate results. The uncertainty in the landscape is reinforcing caution and anticipation among traders, limiting the market’s ability to leverage good results to build a more stable upward trend.

After the indices rose at the beginning of the session, selling pressures returned to affect many stocks, reducing gains and pushing the indices to close with mixed performance. The main market index rose, while both the First Market index and the General Market index declined.

The stock exchange continues to suffer a noticeable decline in trading liquidity, which fell by 10.6 percent to reach 61.6 million dinars, compared to 68.9 million in Monday’s session.

The First Market continued to account for the largest share of this liquidity, at 73 percent, while the Main Market accounted for the remaining 27 percent.

Some stocks posted positive performance, although some of these gains were achieved through limited trading volumes. Al-Taqaddum topped the list of the most rising stocks with an increase of nearly 21 percent, followed by Tahseelat with a rise exceeding 10.5 percent, along with a group of other stocks.

About 130 stocks were traded, with 54 rising, 61 falling, and 15 remaining stable. Weighted indices for eight sectors in the market declined, led by the Basic Materials sector by 2.49 percent and Energy by 1.2 percent. Meanwhile, indices for four sectors rose, led by the Healthcare sector by 7.37 percent and Insurance by 1.7 percent, while prices in the Utilities sector remained stable.

In detail, the General Market Index recorded a decline of about 7.50 points, equivalent to 0.09 percent, reaching 8,399 points, with 213.5 million shares traded across 20,137 transactions.

The First Market Index also fell by about 14.18 points, or 0.16 percent, to reach 8,826 points, with a liquidity value of 44.8 million dinars and volumes of 121.3 million shares, executed through 10,996 transactions.

The Main Index rose by about 22.10 points, or 0.26 percent, closing at 8,440 points, with a traded value of 16.7 million dinars and a trading volume of 92.1 million shares, executed through 9,141 transactions.

As a result, the stock exchange’s market capitalization suffered losses of about 44.6 million dinars, bringing the total market value to 50.29 billion dinars, a decrease of 0.088 percent compared to the 50.33 billion dinars recorded at the end of Monday’s session.

Regarding the most traded stocks by value, Baitak ranked first with a value of 11 million dinars, reaching a price of 750 fils, followed by Gulf Bank with 4.8 million dinars, reaching a price of 321 fils, then National Bank with 4.5 million dinars, closing at a price of 823 fils, and Snam with 2.4 million dinars, reaching a price of 300 fils. Fifth was Eiva with 2.1 million dinars, reaching a price of 422 fils.

Al-Taqaddum stock led the list of top gainers, rising by 20.81 percent, albeit with a trading volume of only 210 shares, reaching a price of 569 fils. It was followed by Tahseelat, up 10.53 percent, with a traded volume of 88,000 shares, closing at 126 fils. Next was Markazat, gaining 9.52 percent, with a trading volume of 4.07 million shares, reaching a price of 230 fils. Kamifak rose 7.38 percent, with a volume of one million shares, closing at 131 fils. Fifth was Cinema, up 6.85 percent, but with only 31 shares traded, reaching a price of 1.357 dinars.

On the other hand, Al-Uqair stock recorded a decline of 5.30 percent, leading the list of biggest losers, with a trading volume of 6,500 shares, closing at 125 fils. It was followed by Butroliya, down 5 percent, but with only 100 shares traded, dropping to a price of 760 fils. Then came Injazat, falling 3.60 percent, with a volume of 21,200 shares, closing at 134 fils. Al-Mushtraka declined 3.47 percent, with a trading volume of 1.57 million shares, dropping to 752 fils. Fifth was Arzan, down 3.35 percent, with a volume of approximately 3.84 million shares, closing at 260 fils.

Most Gulf market indices declined during Tuesday’s session. The Saudi TASI index led the losses, falling by about 1.70 percent, losing 171.56 points. It was followed by the Muscat market, which dropped by more than 1 percent, amounting to 85.56 points. The Qatar Stock Exchange index also fell by about 0.40 percent, equivalent to 34.2 points. The Dubai Financial Market declined by 0.29 percent, losing approximately 16.7 points. Finally, the Bahraini market fell by 0.17 percent, or 3.19 points. The only Gulf market to rise was the Abu Dhabi Securities Exchange, which gained 0.47 percent, equivalent to 46.13 points.