The Kuwait Stock Exchange bid farewell to 2024, with impressive gains of approximately 3.3 billion dinars, as the market value of listed shares reached around 43.57 billion dinars by the end of the year. This marks an increase from 40.25 billion dinars, the value recorded at the end of 2023.
The positive performance of most shares in 2024 was reflected in the market indices, with notable increases throughout the year. The Premier Market Index saw a rise of 4.8%, gaining 361.72 points to close at 7838.76 points on the final trading day of 2024. Similarly, the “Main 50” Index experienced a significant increase of 24.04%, rising by approximately 1319.26 points to close at 6806.66 points.
The Main Market Index achieved impressive gains of 1,337.54 points, closing at 6,907.25 points, reflecting a growth rate of 24.01%. Additionally, the General Market Index of the stock exchange rose by 8%, closing at 7,362.54 points, after gaining 545.25 points throughout the trading sessions of 2024.
The results of the various stock exchange sectors were as follows:
1- Banks
The banking sector, with a total capital value of approximately 26 billion dinars, experienced a growth of 6.2% since the beginning of 2024. Additionally, the return on shareholders’ equity for the sector reached about 11.4%.
2 – Real Estate
The real estate sector saw a growth of 10.8% during the trading sessions of 2024. Additionally, the return on shareholders’ equity for the companies listed in this sector stood at approximately 4.4%.
3 – Financial Services
The financial services sector achieved a growth rate of 30.1%, while the stock turnover rate reached about 7.3%.
4- Energy:
The energy sector, with a capital value of approximately 232.8 million dinars for listed companies, experienced a growth of 21.6% since the start of 2024. The return on shareholders’ equity for the total shares listed in the sector reached around 7.6%.
5 – Basic Materials
The basic materials sector, with a capital value of approximately 514.2 million dinars for listed companies, saw a growth of 21.3% since the beginning of 2024. The return on shareholders’ equity for the total shares listed in the sector reached about 11.1%.
6 – Industry
The industrial sector, with a capital value of approximately 2.9 billion dinars for listed companies, experienced a decrease of 6% since the beginning of 2024. Despite this decline, the companies in the sector achieved a return on shareholders’ equity of about 7.1%.
7 – Consumer Goods
The consumer goods sector, with a capital value of approximately 302.1 million dinars for listed companies, saw a remarkable growth of 51.65% since the beginning of 2024. Additionally, the sector achieved a return on shareholders’ equity of about 10.1%
8 – Healthcare
The healthcare sector witnessed a decline of 5.3%, while the return on equity reached about 2.3%.
9 – Consumer Services
The consumer services sector experienced significant growth of 32.4% during the trading sessions of 2024. The sector also saw a return on shareholders’ equity of approximately 7.9%, reflecting strong performance and profitability among the listed companies.
10 – Communications
The telecommunications sector saw a decline of 7.9% during the trading sessions of 2024, despite a strong return on shareholders’ equity of approximately 11.9% for the listed companies.
11 – Insurance
The insurance sector experienced a decline of 10.2% during the trading sessions of 2024, despite achieving a return on shareholders’ equity of approximately 11.4% for the listed companies.
Supporting Factors
The main reason for the positive numbers achieved by the Kuwait Stock Exchange during the year 2024 is due to a number of factors, most notably:
- The strong performance of most listed companies, particularly the banking sector, which has demonstrated its ability to achieve robust results across various economic conditions.
- The growth in foreign liquidity entering the market in 2024, particularly following the inclusion of several local companies in global indices, which attracted numerous foreign institutions to invest in the market.
- The stable and favorable environment in the country providing companies and business owners with the opportunity to plan, grow, and expand across various economic sectors and activities.
Source: Al Qabas
