Stock exchange records losses of 405.2 million dinars in first sessions of the month
Kuwait Stock Exchange indices declined amid dominant selling pressure and reduced liquidity, as investors awaited regional developments.
Translated by Qiyas from الجريدة — Original source
The Kuwait Stock Exchange opened on a negative note today, marking the start of its first weekly and monthly sessions for November, as its indices recorded notable declines amid a wave of selling pressure that affected a large number of stocks, amid continued caution governing traders’ decisions.
The market’s performance declined from the opening of the session, with major indices posting broad-based losses as investors remained on high alert. This coincided with ongoing monitoring of regional developments and the uncertainty they have created regarding the overall outlook, which influenced traders’ behavior and increased pressure on stocks.
Trading liquidity did not show significant momentum, reaching approximately 40.6 million dinars, falling below usual daily trading levels due to a slowdown in buying activity. The First Market accounted for the largest share of this liquidity, but its share of the decline reached 54 percent, while the Main Market accounted for the remaining 46 percent.
Trading was not devoid of some positive movements, as a limited number of stocks bucked the market’s general trend. National Bank of Kuwait topped the list of biggest gainers with gains exceeding 3.5 percent, followed by Meshwar with a 2.4 percent increase.
A total of 127 stocks were traded, with 15 rising, 98 falling, and 14 remaining unchanged. Most weighted sector indices declined, led by the Energy sector, which fell by 2.99 percent, and the Consumer Goods sector, which dropped by 2.62 percent, while prices in the Healthcare and Utilities sectors remained stable.
In terms of index performance, the General Market Index fell by approximately 67.85 points, or 0.80 percent, to reach 8,386 points, with 186.6 million shares traded across 13,786 transactions.
The First Market Index also lost approximately 66.34 points, or 0.75 percent, to stand at 8,826 points, with liquidity valued at 22.1 million dinars, trading volumes of 74.9 million shares, and 6,677 transactions.
The Main Market Index declined by approximately 91.58 points, or 1.08 percent, closing at 8,363 points, with a traded value of 18.5 million dinars, trading volumes of 111.7 million shares, and 7,109 transactions.
As a result, the bourse’s market capitalization lost approximately 405.2 million dinars, falling to 50.22 billion dinars, a decrease of 0.80 percent compared to the 50.62 billion dinars recorded at the close of last Sunday’s session.
