First six KSE sessions makes substantial capital gains

During the first six sessions of 2024, the Kuwait Stock Exchange witnessed substantial capital gains, totaling around two billion dinars. At the end of Tuesday’s trading session, the market’s capital value surpassed 42 billion dinars, marking a significant increase from the end of the previous year.

The continued uptrend is attributed to factors such as heightened liquidity, attractive stock prices, changes in monetary policy, positive financial results, and optimism surrounding the formation of a new government focused on economic affairs, reports Al-Anba daily.

Key factors driving the positive momentum include:
  • High liquidity rates: The Stock Exchange experienced a notable surge in liquidity volume, reaching 78 million dinars during the latest session.
  • Attractive stock prices: Many stocks continue to trade at appealing prices, facilitating new positions and aligning with long-term investment goals.
  • Monetary policy changes: Indications of a slowdown in global monetary tightening have contributed to increased investor interest in stock markets.
  • Positive financial results: Anticipation of favorable financial results for the past year, following a period of remarkable growth, coupled with expectations for cash dividends and grants.

The session on Tuesday recorded the highest liquidity since the beginning of the year, totaling 78.1 million dinars. Notably, liquidity remained concentrated around leading stocks, emphasizing an institutional market trend and the establishment of new investment centers in anticipation of the upcoming dividend season.

Market gains on this day were led by several sectors, including communications, industrial, investment services, and banking. Trading volumes increased by 19%, with the most actively traded shares including Arzan, Kuwait Real Estate, and National.

The positive momentum is also fueled by optimism surrounding the formation of a new government, expected to prioritize economic development, major projects, stability in oil prices, and positive global financial market outlooks.

The market’s performance reflects a bullish sentiment, with rising share values for 69 companies, declining values for 41, and stability for 11, while 28 companies saw no trading activity. The overall market capitalization exceeded 42 billion dinars, indicating a robust start to the year.

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