Stock Market Continues Decline with 79 Million Dinars in Liquidity

The Kuwait Stock Exchange recorded declines for the second consecutive day, deepening its losses amid continued selling pressure on most stocks, as caution and anticipation dominated investor trading activity in the market.

The exchange began trading with limited collective gains, but these profits did not last as selling pressure intensified on many stocks, pushing indices into negative territory as trading hours progressed.

Caution and anticipation continue to dominate the stock market’s performance due to the ambiguity of the regional landscape and fears of a return to military conflict in the region. This persists despite divergent performance among regional markets, some of which witnessed notable jumps and increases, while others maintained stable levels.

Traded value recorded a significant increase, surging by 94.5 percent to reach approximately 79 million dinars, compared to a liquidity value of 40.6 million dinars during the Sunday session. The First Market captured the largest share of this liquidity at 73 percent, while the Main Market took the remaining 27 percent.

Despite the negative performance of indices, some stocks managed to record positive gains, although some were achieved through limited volumes. Midan topped the list of rising stocks with an increase of nearly 10 percent, followed by Osool with gains of nearly 6 percent.

A total of 130 stocks were traded, with 27 rising, 89 falling, and 14 remaining stable. Most weighted indices for market sectors declined, led by the insurance sector down 2.29 percent and the energy sector down 2.02 percent. Conversely, two sectors rose: healthcare by 6.29 percent and consumer goods by 0.14 percent.

Regarding index performance details, the General Market Index fell by approximately 39.17 points, equivalent to 0.47 percent, to reach a level of 8,346 points. A volume of 311.6 million shares was traded across 19,512 transactions.

The First Market Index also lost approximately 36.22 points, or 0.41 percent, to reach a level of 8,789 points, with a liquidity value of 57.5 million dinars and a volume of 180.7 million shares, executed through 10,629 transactions.

The Main Index declined by approximately 62.65 points, or 0.75 percent, closing at a level of 8,300 points. The traded value amounted to 21.4 million dinars, with a trading volume of 130.8 million shares, executed through 8,883 transactions.

Regarding the most traded stocks by value, Watania ranked first with a value of 7.69 million dinars, reaching a price of 143 fils. It was followed by Mazoon with 7.66 million dinars, reaching a price of 153 fils, then Byblos Bank with 6.83 million dinars, closing at a price of 744 fils, and Al-Watani with 4.55 million dinars, reaching a price of 840 fils. Fifth was Eiva with 3.72 million dinars, reaching a price of 415 fils.

Midan topped the list of the most rising stocks with a 9.94 percent increase, albeit with only 500 shares traded, reaching a price of 907 fils. It was followed by Osool with a 5.88 percent increase, with a traded volume of 217,600 shares, reaching a price of 198 fils. Then came Al-Arabia Real Estate with a 4.76 percent increase, trading 4.04 million shares, reaching a price of 220 fils, and Umm Al-Quwain with a 3.85 percent increase, but with only 131 shares traded, reaching a price of 135 fils. Fifth was Tijari with a 2.77 percent increase, trading 1.23 million shares, reaching a price of 519 fils.

On the other hand, Al Safwa’s share price fell by 8.80 percent, leading the list of the most declining stocks, with a trading volume of 23.2 million shares, closing at 114 fils. It was followed by Future Kids, down 7.58 percent, with a trading volume of 1.84 million shares, dropping to 122 fils, then Gulf Insurance, down 4.96 percent, but with only 25 shares traded, closing at 1.264 dinars, and Petroleum, down 4.82 percent, with a trading volume of 11,800 shares, falling to 770 fils, and fifth was KAMCO, down 4.76 percent, with a trading volume of approximately 279,800 shares, closing at 160 fils.