Kuwait News

KSE incurs significant losses in terms of market capitalization

The Kuwait Stock Exchange incurred significant losses in terms of market capitalization over the past three sessions of this week, as a result of the disposal of a number of leading stocks listed on the Premier Market after they rose significantly in the last sessions since the beginning of this month.

Market losses amounted to about 580 million dinars in the three sessions due to the expansion of sales of this type of stock to achieve quick profits, and the total value after yesterday’s session reached 39.79 billion dinars, causing the market value to lose its stability above the level of 40 billion dinars, reports Al-Anba daily.

The stock exchange began the opening session of the week with market losses amounting to 145 million dinars, then losses increased in Monday’s session to 187 million dinars, and the trend of market value losses continued to rise, reaching 247 million dinars in yesterday’s session.

On the other hand, medium- and small-cap stocks are witnessing demand in the current period, which is shown by the rise in the main market index that includes these types of stocks, amid expectations that the remaining few sessions of the current year will witness the return of purchasing momentum, especially on the leading stocks in the context of building new positions.

Based on many data, the most important of which is the financial results achieved in the past 9 months, the growth rate of which exceeded 30% compared to the same period last year.

At the level of yesterday’s session, the liquidity flowing to the market increased by 20%, as the total amounted to 52.4 million dinars, compared to 43.7 million dinars the day before yesterday. It was noticeable that liquidity was concentrated around the leading stocks, led by the National Bank, with trades worth 11.2 million dinars, constituting 21% of the total. It was followed by IFA shares with 5 million dinars, then Arzan shares with 4.7 million dinars, followed by “KFH” shares with 4.5 million dinars, then Al-Khaleej shares with 1.9 million dinars.

The volume of traded shares also increased by 11%, as trading volume reached 191 million shares yesterday, compared to 172 million shares in Monday’s session, led by “Arzan” with 23.3 million shares traded, followed by “IFA” with 16.3 million shares traded.

The performance of the indices varied at the end of yesterday’s trading session, as the Premier Market Index declined by 0.8%, with a loss of 61.8 points, bringing the index to 7,372 points, while the Main Market Index rose by 0.2%, with a gain of 11 points, bringing the index to 5,532 points, and the General Market Index declined by 0.6%, with a loss 41.6 points to reach 7632 points.

The market decline in yesterday’s session was led by 6 sectors, most notably the banking sector, which fell by 1.04% due to a decline in a number of its shares. The shares of 57 companies fell compared to the rise in the shares of 49 companies, and the value of the shares of 16 companies stabilized, and the shares of 27 companies were not traded.

Read Today's News TODAY...
on our Telegram Channel
click here to join and receive all the latest updates t.me/thetimeskuwait

Back to top button