Kuwait Stock Exchange Gains 1.2 Billion Dinars in Two Sessions
Kuwait Stock Exchange records gains of 1.2 billion dinars amid a Gulf market upturn
Translated by Qiyas from الراي — Original source
- Gulf markets gained $67.8 billion today... 83 percent of which was Saudi
Amid a broad-based rally in Gulf market trading, the Kuwait Stock Exchange continued its gains since the opening session of the current week, driven by strong buying momentum that boosted its market capitalization to reach $50.858 billion, after closing at $49.646 billion in last Thursday’s session.
Thus, the Kuwait Stock Exchange achieved market gains of approximately $1.2 billion across today’s and yesterday’s sessions, with $981 million recorded in today’s session alone. This recovery offset about 50 percent of the losses incurred during the two-day session on Sunday and Monday, when the exchange lost $1.98 billion in market value amid a series of declines that began on October 14.
Regionally, Gulf stock exchanges recorded market gains of approximately $67.8 billion in today’s session, with the Saudi market (Tadawul) accounting for 83 percent of the total gains, amounting to $56.4 billion.
The Kuwait Stock Exchange closed today with its general index rising by 163.3 points, or 1.96 percent, to reach 8,492.8 points. A total of 312.1 million shares were traded across 23,207 cash transactions valued at 83.1 million dinars. The main market index rose by 161.2 points, or 1.94 percent, to reach 8,463 points, through the trading of 168.6 million shares across 12,011 cash transactions worth 26 million dinars.
Additionally, the First Market index rose by 172.3 points, or 1.97 percent, to 8,939 points, with 143.5 million shares traded across 11,196 cash transactions valued at 57 million dinars. The “Main 50” index climbed by approximately 261.4 points, or 2.8 percent, to reach 9,449 points, as 146.2 million shares were traded across 8,969 cash transactions worth 22.2 million dinars.
Today’s trading session gains were supported by rises in several sectors, led by the technology sector, which surged 5.61 percent. The healthcare sector remained the only one unchanged. A total of 113 companies closed in the green (up), while 12 stocks bucked the trend and declined, and seven remained unchanged.
