Kuwait market value climbs to KD 48.05 billion with KD 105 million gain

• The value of foreign ownership in first-market shares amounted to approximately KD 6.09 billion, a 0.5% decline from KD 6.13 billion the week before, according to Kuwait Stock Exchange data.

Kuwait Stock Exchange indices showed mixed performance at the end of the first trading week of Ramadan, with limited selling aimed at booking profits from leading stocks that saw price gains last week. This resulted in a decline in the first market index, while the main market index rose due to increased activity in several of its stocks, Al Anba newspaper reported.

It is noteworthy that liquidity rates increased in the first week of Ramadan, reaching a total of KD 583 million, with a daily average of KD 116 million. Liquidity was heavily concentrated around the shares of Oula Fuel, M. Aamal, Kuwait Finance House, National Bank of Kuwait, Kuwait Projects Company, and Zain Company. Last Monday’s session saw the highest liquidity, totaling KD 147 million.

By the end of the week’s trading, the market value gained KD 105 million, or 0.2%, bringing the total to KD 48.05 billion, compared to KD 47.94 billion the previous week. Specifically, the stock exchange started the week with gains of KD 235 million, which increased by KD 189 million in the next session. However, the market value declined by about KD 48 million on Tuesday, before returning to a modest gain of KD 6 million on Wednesday. The market closed with a decline of KD 277 million, reducing the weekly gains to KD 105 million.

In another context, foreign dealings in first-market shares were balanced between buying and selling. According to stock exchange data from March 5, the value of foreign ownership in first-market shares amounted to approximately KD 6.09 billion, a 0.5% decrease from KD 6.13 billion the week before.