Weekly positive tally for the stock market... with gains of 174.4 million dinars

Kuwait Stock Exchange indicators concluded the week with modest gains, after recording a decline during one session compared to rises in four sessions, although the gains were modest in two of those sessions.

The stock market benefited during the week from a calm atmosphere in the region, coinciding with signs that military conflict would not resume and optimism about reaching an agreement between the United States and Iran. This helped ease geopolitical concerns, positively reflecting on investor sentiment.

Many stocks showed positive performance alongside the continuation of companies’ announcements of their results for the nine-month period, some of which delivered positive results that defied expectations, particularly given the exceptional circumstances the region has faced since late February and the challenges they have imposed on various economic and investment sectors.

For the weekly total, the main market index led the gains after rising by 0.67 percent, adding approximately 57.33 points. Meanwhile, the First Market index rose by 0.27 percent, equivalent to about 24.62 points, bringing the total for the General Market index to a rise of approximately 0.34 percent, or 29.08 points.

As a result, the stock market gained value worth 174.4 million dinars, a rise of 0.33 percent, bringing the market capitalization to 51.5 billion dinars, compared to 51.33 billion dinars at the end of the week ending on November 5.

Coinciding with this positive performance, all market variables rose. Traded liquidity grew by 20.7 percent to reach 399.4 million dinars, compared to liquidity valued at 330.6 million dinars.

The First Market continued to hold the largest share of that liquidity at 67 percent, while the Main Market held the remaining 33 percent.

Traded volumes also rose by 22.2 percent to reach 1.57 billion shares, compared to volumes of 1.28 billion shares. The number of trades increased by 8.52 percent to reach 90,887 trades, compared to 83,955 trades.

On the final session of the week, the stock market continued to record gains, albeit within a narrow and limited range, amid continued caution and anticipation among traders, waiting to see the outcomes of developments during the weekend holiday.

The session witnessed fluctuating performance, as the general index started trading higher before turning red amid profit-taking that affected several stocks, but it returned to green following a relative resurgence in buying interest.

Traded liquidity declined by 4.2 percent to reach 74.3 million dinars, compared to 77.5 million dinars in the Wednesday session. This decline is natural, particularly with the end of the week’s trading, the market entering a weekend holiday, and the continuation of anticipation.

The First Market continued to hold the largest share of that liquidity at 68 percent, while the Main Market held the remaining 32 percent.

Despite the modest performance at the index level, many stocks recorded positive performance, including shares listed on the First Market. The National Bank share rose by more than 3 percent, while Aayan recorded gains exceeding 2.6 percent.

Al-Mawashi topped the list of the most rising stocks on the market with gains exceeding 16 percent, followed by Wathiq with a rise exceeding 6 percent, while Al-Shuwaikh recorded a rise of approximately 5 percent.

Approximately 129 stocks were traded, with 50 rising, 63 falling, and 16 remaining unchanged. Weighted indices rose for six sectors, led by the technology sector with a 1.60 percent increase and healthcare with a 1.32 percent increase. Meanwhile, indices fell for six other sectors, headed by the energy sector with a 1.27 percent decline and industry with a 0.64 percent drop, while the utilities sector remained stable.

In terms of index performance, the general market index rose by approximately 12.28 points, or 0.14 percent, to reach 8,575 points. A total volume of 304.9 million shares was traded across 16,000 transactions.

The First Market Index also gained, rising by approximately 14.46 points, or 0.16 percent, to reach 9,017 points. This segment recorded a liquidity value of 50.4 million Kuwaiti dinars, with a trading volume of 181 million shares executed through 8,320 transactions.

The main index increased by approximately 5.00 points, or 0.06 percent, closing at 8,591 points. The traded value amounted to 23.8 million dinars, with a volume of 123.9 million shares executed through 7,680 transactions.

Regarding the most actively traded stocks by value, Watania topped the list with a value of 7.3 million dinars, closing at a price of 171 fils. It was followed by Makhazen with 5.2 million dinars, closing at 158 fils; then Ahli Bank with 4.4 million dinars, closing at 264 fils; followed by Boursa Kuwait (Bitak) with 4.3 million dinars, closing at 765 fils; and fifth was Al Watani with 3.39 million dinars, closing at 875 fils.

Mawashi led the list of the most rising stocks with a 16.03 percent increase, trading 1.58 million shares to reach a price of 152 fils. It was followed by Wathiq with a 6.31 percent gain, trading 1.7 million shares to reach 118 fils; then Shuwaikh with a 4.88 percent rise, trading 58,100 shares to reach 215 fils; and Noor with a 4.81 percent increase, trading 2.8 million shares to reach 479 fils. Fifth was Ahli Bank with a 4.35 percent rise, trading 17.3 million shares.

On the other hand, Imtiaz led the list of the most declining stocks with a 13.64 percent drop, trading 8,000 shares to reach a price of 304 fils. It was followed by Nabisco with a 5.05 percent decline, trading 24,800 shares to fall to a price of 1.259 dinars; then Maaden with a 4.47 percent drop, trading 56,200 shares to close at 171 fils; and Ajyal with a 4.35 percent decline, trading 3,500 shares to fall to 286 fils. Fifth was Kufpec with a 3.77 percent drop, trading approximately 6,000 shares to close at 153 fils.