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The most traded shares this year were, “KFH” with 2.2 billion shares; “Gulf” with 1.8 billion shares; “GFH” with 1.7 billion shares; “Manazel” with 1.6 billion shares; and “EFA” with 1.5 billion shares.
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The Main Market Index achieved remarkable gains of 16.6% by adding 927 points since the beginning of the year to reach 6,496 points, compared to 5,569 points at the end of last year, and the General Market Index rose by 3.9% by adding 263 points to reach 7,080 points, up from 6,817 points at the close of last year.
The liquidity rates of the Kuwait Stock Exchange have jumped significantly since the beginning of this year until the last closing yesterday.
This is in comparison to the liquidity rates in the same period in 2023, as they increased by 32.9% with a total exceeding 10.9 billion dinars since the beginning of the year, with a daily average of about 57 million dinars, compared to 8.2 billion dinars with a daily average of 42 million dinars in the same period in 2023.
The jump in cash flows to the Kuwaiti stock market came to reflect the extent of the confidence of traders in their various segments in the favorable opportunities available in the market.
Whether in leading stocks that achieve remarkable growth in profits, especially banking sector stocks, or medium and small stocks that have enjoyed remarkable demand in recent months, and then the main market has become the focus of investors, which is evident by the increase in its share of daily liquidity, most of which used to go to the first market.
It was noteworthy that liquidity has been focused on several stocks since the beginning of the current year, as the “KFH” stock topped the list of the most liquid stocks with trades exceeding 1.6 billion dinars, representing nearly 15%.
This was followed by the “National” stock with trades exceeding 783 million dinars, then the “EFA” stock with a trade value of 567 million dinars, the “Gulf” stock with 526 million dinars, the “Boubyan” stock with 340 million dinars, the “Zain” stock with 319 million dinars, and the “Aqarat K” stock with 310 million dinars.
One of the most important reasons that made the Kuwaiti stock market attractive to flows during the current year, is the announcement by 6 companies of interim distributions amounting to about 321 million dinars, noting that the listed companies achieved profits during the first half exceeding 1.4 billion dinars.
Among the reasons that supported the liquidity flows to the market, is the positive performance of the stock exchange during the current year, as it achieved the second best performance in the Gulf during the first 8 months of the current year between January and August, amid expectations that it will maintain its positive performance during the rest of the year.
In addition to the above, the Kuwait Stock Exchange received cash flows from global institutions represented by the FTSE Russell, Morgan Stanley “MSCI”, and Standard & Poor’s for emerging markets “S&P”, about 305 million dinars (equivalent to 1.04 billion dollars), during the first 9 months of the current year.
This goes on to demonstrate the extent of the confidence of these institutions in the Kuwait Stock Exchange as it is one of the promising markets in the region.
The performance of the Kuwait Stock Exchange in 2024 was also enhanced by the impact of implementing new investment mechanisms and tools, including, for example, the net purchase and sale obligations service, or the net value of trading, and the sale of priority rights in subscriptions.
These are tools that complement what was previously proposed, such as swap deals, short selling, lending and borrowing shares, in addition to income-generating real estate funds.
This confidence was crystallized in the rise in the value of foreign ownership in the shares of the first market to more than 5.2 billion dinars by the end of the third quarter of this year.
The positive performance of the Kuwait Stock Exchange was crystallized in its entirety in the market gains achieved since the beginning of the year until the period mentioned above, as it achieved 1.22 billion dinars in gains, reaching a value of 41.47 billion dinars by the end of yesterday’s session, up from 40.25 billion dinars at the end of 2023.
The volume of traded shares increased from the beginning of the year until mid-October to 44.4 billion shares, compared to 32.5 billion shares in the same period in 2023, which is an increase of 36.5%.
The most traded shares this year were “KFH” shares with 2.2 billion shares, followed by “Gulf” with 1.8 billion shares, then “GFH” with 1.7 billion shares, “Manazel” with 1.6 billion shares, and “EFA” with 1.5 billion shares.
At the level of market indices, the Premier Market Index achieved gains of 1.3% since the beginning of the year, adding 99 points to reach 7,576 points compared to 7,477 points at the end of 2023.
Meanwhile, the Main Market Index achieved remarkable gains of 16.6% by adding 927 points since the beginning of the year to reach 6,496 points, compared to 5,569 points at the end of last year, and the General Market Index rose by 3.9% by adding 263 points to reach 7,080 points, up from 6,817 points at the close of last year.
145 million dinars, the highest liquidity in a session during the year
The session held earlier on May 30, witnessed the highest liquidity flows during the current year, at about 145 million dinars.
This was the result of the second periodic review by Morgan Stanley MSCI of the weights of the Kuwaiti Stock Exchange, noting that foreign flows represented 65% of the total, at about 95 million dinars, which were pumped during the closing auction of that session.
7.5% highest gain for the general index in March
The General Index of the stock market achieved its highest gains during the current year in March, at 7.5%, when the index that measures the performance of the first and main market indices together exceeded the 7,400-point level, before these gains decreased to less than 4% in mid-October.
