Stock Market Erases Weekly Losses in Two Sessions... Gaining 1.21 Billion Dinars

The Kuwait Stock Exchange regained its positive momentum, bolstered by relative optimism regarding de-escalation efforts led by several countries in the region, amid signs that an agreement could be reached to prevent a renewed military confrontation between the United States and Iran in the area.

This atmosphere was reflected in the market’s performance, which saw gains across all its indices, recording strong profits by the end of today’s trading session. Buying interest was evident throughout the session, particularly in leading stocks, some of which posted solid gains as trader sentiment improved and the desire to seize opportunities increased, coinciding with a decline in fears related to regional developments.

From the opening of the session, the stock exchange followed an upward trajectory, with continued buying operations gradually boosting index gains throughout trading hours, before the pace of increases accelerated during the closing session.

This positive performance was accompanied by a rise in circulating liquidity, which reached 83.1 million dinars, compared to 57.4 million dinars at the close of Sunday’s session, representing a 44.5 percent increase.

The First Market continued to capture the largest share of this liquidity, accounting for 69 percent, while the Main Market took the remaining 31 percent.

On the First Market level, Eiva shares led the list of the most rising stocks with gains of 5.6 percent, while GFH and Al-Musharaka shares both recorded increases exceeding 4 percent. In the Main Market, Al-Awaly shares topped the list of the most rising stocks with gains nearing 18 percent, followed by KAMCO with an increase exceeding 13 percent, while Hotels and Metals shares each recorded gains exceeding 9 percent.

Most of the market’s sector-weighted indices rose, led by the Technology sector with a 5.61 percent increase, Insurance with 3.59 percent, and Financial Services with 2.67 percent, while the Healthcare sector’s indices remained stable.

In detail, the General Market Index rose by approximately 163.38 points, equivalent to 1.96 percent, reaching a level of 8,492 points, with 312.1 million shares traded through 23,207 transactions.

The First Market Index also gained approximately 172.31 points, or 1.97 percent, reaching a level of 8,939 points, with liquidity valued at 57 million dinars, and volumes of 143.5 million shares traded through 11,196 transactions.

The Main Index rose by approximately 161.24 points, or 1.94 percent, closing at a level of 8,463 points, with a traded value of 26 million dinars, and a trading volume of 168.6 million shares executed through 12,011 transactions.

Thus, the stock exchange managed to erase losses valued at 1.11 billion dinars incurred during the previous week, recording market gains worth 1.21 billion dinars over two sessions.

Gains on Monday reached 979.8 million dinars, bringing the market capitalization to 50.85 billion dinars, compared to 49.87 billion dinars at the close of Sunday’s session, representing a 1.96 percent increase.

Regarding the most traded stocks by value, Baitak ranked first with a value of 7.5 million dinars, reaching a price of 753 fils, followed by Al-Watani with 6.7 million dinars, reaching a price of 854 fils, then Eiva with 5.7 million dinars, closing at a price of 434 fils, Gulf Bank with 3.3 million dinars, reaching a price of 329 fils, and Al-Awaly in fifth place with 2.6 million dinars, reaching a price of 116 fils.

The first stock topped the list of the most rising shares, gaining 17.77 percent, with a trading volume of 24.2 million shares, followed by Kuwait Finance House (KFH) by 13.14 percent, with a traded volume of 1.85 million shares, reaching a price of 198 fils, then Hotels by 9.39 percent, with a trading volume of 4.7 thousand shares, reaching a price of 198 fils, and Metals by 9.09 percent, with a trading volume of 506.2 thousand shares, reaching a price of 168 fils, and fifth was Wathiq by 8.02 percent, with a trading volume of 1.3 million shares, reaching a price of 105 fils.

On the other hand, Taseelat shares recorded a decline of 4.76 percent, topping the list of the most falling shares, with a trading volume of 53.2 thousand shares, reaching a price of 240 fils, followed by Al-Sabki by 3.81 percent, with a trading volume of 58 thousand shares, dropping to a price of 379 fils, then Al-Tijari by 2.30 percent, with a trading volume of 102.2 thousand shares, closing at a price of 509 fils, and Cables by 1.91 percent, with a trading volume of 1.34 million shares, dropping to a price of 1.539 dinars, and fifth was Markaz by 1.59 percent, with a trading volume of about 1.75 million shares, closing at a price of 248 fils.

Regarding Gulf markets, most of them rebounded during Monday’s trading, except for the Bahraini market, which declined slightly, while the Saudi TASI index led other markets with significant gains of 3.4 percent, adding about 323.28 points. The Qatari market also surged by 2.75 percent, amounting to 236.81 points.

The Muscat market came in third with a rise of 1.09 percent, equivalent to 79.641 points, followed by the Abu Dhabi market with a rise of 0.55 percent, amounting to 52.38 points, and finally the Dubai market with gains of 0.31 percent, equivalent to 17.53 points.