The market value of the shares listed on the Kuwait Stock Exchange recorded gains yesterday, amounting to 430 million dinars, supported by the activity witnessed by the leading shares, led by a number of banks whose shares are currently trading at historical levels.
During the past five sessions, according to a local Arabic daily, the stock exchange achieved an increase in the market value of the total listed companies, which amounted to 1.73 billion dinars, which strengthened the market gains achieved since the beginning of this year to reach 5.34 billion, i.e. a growth of 12.7 percent over the end of last year.
The market value closed yesterday at 47.3 billion dinars for the first time since before the global financial crisis in 2008, as it was noticed that the stock exchange benefited from the momentum witnessed by the banking sector, led by the “KFH” share, which has risen the most since the beginning of 2022, achieving a 20% increase in its market price compared to closings. 2021.
The daily monitored gains of about 14 percent achieved by the shares of the listed banks portfolio since the beginning of last January until yesterday’s closings, calling on the activity of other banks such as “Al-Ahly” which achieved 15 percent, “Al-Watani” by 14 percent, and then “Boubyan” with 12.9 percent, “Al-Khaleej” with 12.2 percent, and “Al-Ahly United of Bahrain 11.9 percent.
On the other hand, the banks’ gains supported the achieved price returns of the shares of the first market to reach 14 percent, in light of the apparent activity of the shares of “Cables”, “Investments”, “KIPCO”, “KFH”, “Jazeera Airways”, and “Boubyan Petrochemicals” and other leading stocks.
The general index of the stock exchange, in addition to the indices of the first and main markets, closed yesterday at the highest point, recording an unprecedented level since the launch of the division of markets and the current weighted indices in April 2018, where the general index reached 7934.9 points, an increase of 72.67 points from the day before yesterday’s session, in light of clear support From the activity of the first market, which gained 97.6 points to close at 8707.4 points.
The Premier Market is still witnessing a quiet accumulation and buying of many operational shares in preparation for obtaining an expected share of the activity during the coming period, knowing that the portfolios and funds are seeking to keep pace with the returns available in the shares of the first market and a not small segment of the medium and small commodities traded in the “main”, which closed yesterday only 17.7 points higher.
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