KSE maintained its momentum, reaching record levels and gains in the first nine sessions of the current year. The positive performance of the Kuwaiti stock market in 2024 has propelled the market value to 42.6 billion dinars at the end of the latest trading session.
Over the past nine sessions, the market value added approximately 2.3 billion dinars in gains, marking an increase from 40.26 billion dinars at the end of the previous year. The rates of liquidity flowing into the market have surged, with the daily average reaching 57 million dinars, compared to 43 million dinars in 2023. The total value of market trading during this period amounted to 514 million dinars, with 155 million dinars in the first week and 359 million dinars in the completed week, reports Al-Anba daily.
Trading volumes have seen an uptick, with 2.2 billion shares being traded since the beginning of the year. Notably, trading has been concentrated around banking stocks such as KFH and Watani, as well as various sectors including Arzan, Kuwait Real Estate, IFA and Sanam.
The continuous upward trend in the stock market is fueled by optimism among traders. Several positive factors contribute to the market’s activity, including:
- Anticipation of favorable year-end results, with expectations of continued profit growth in the last quarter, similar to the achievements of the first nine months of 2023.
- Positive outlook for global financial markets, supported by expectations of interest rate cuts by the US — Federal Reserve and central banks worldwide.
- Seizing opportunities after the decline in many stocks, especially blue-chip stocks, making them more attractive to investors.
- Increased foreign interest in primary market shares, evidenced by a significant rise in ownership value, reaching 5.2 billion dinars by January 10.
Investment circles are eagerly anticipating the disclosure of the annual results of the market division after the upcoming Sunday trading session. This annual review is conducted by the stock exchange to determine the stocks listed in each of the three markets, following established rules and regulations.