Boursa Kuwait sees selective selling pressure, index drops

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KUWAIT CITY, June 9: Selective selling pressure on leading stocks contributed to a decrease of 6 points in the general index of the Boursa Kuwait. Throughout the week’s trading, the main indices displayed mixed performances, with a decline in market value and trading activity. Kuwait Finance House (KFH) emerged as the most active stock for the week.

The Premier Market Index experienced a slight decrease of 0.17%, closing the week at 7669.28 points, down by 13.32 points compared to the previous session. The market value of shares by the end of trading reached 41.449 billion dinars, reflecting a 0.10% decrease from the previous week. The general market index concluded trading at 7,045.16 points, a decline of 0.10% or 6.76 points from the previous week. Conversely, the main market index saw a slight increase of 0.28%, closing at 5,974.48 points.

The main market 50 index ended in positive territory, with a growth of 0.26%, equivalent to 15.08 points, finishing the week at 5805.97 points. Trading activity saw a decline in 6 sectors, with healthcare leading the losses at 3.41%, while 7 sectors, led by industrial, experienced gains of approximately 4.10%. Kuwaiti Al-Sakab stock recorded the highest weekly decline at 19.64%, whereas “Arkan” led the gainers with 18.03%. KFH, despite a 1.10% decline, contributed significantly to trading activity with a volume of 63.48 million shares and liquidity worth 46.04 million dinars, executed through 7.46 thousand transactions.

Overall, trading indicators collectively decreased, with liquidity falling by 26.95% to 243.63 million dinars, quantities declining by 26.36% to 979.44 million shares, and the number of transactions decreasing by 14.98% to 71.01 thousand. The Kuwait Stock Exchange closed trading with the general index declining by 3.8 points to 7,045.16 points, a decrease of 0.05%.

A total of 158.9 million shares were traded through 12,891 cash transactions worth 41 million Kuwaiti dinars; the main market index decreased by 25.57 points to reach 5974.48 points, a decrease of 0.4%, while the Premier Market index rose 1.7 points to 7669.28 points through the trading of 63.5 million shares via 7,341 deals worth 29.6 million dinars.

Simultaneously, the Main 50 index experienced a decline of 35.09 points, reaching 5805.97 points, marking a decrease of 0.60%. This movement occurred through the trading of 69.3 million shares via 3609 cash transactions, amounting to 8.19 million dinars (approximately 24.9 million dollars). During this period, companies such as Unicap, Bayan, Al-Nakheel, and Al-Rabita saw the most significant increases, while companies like Madar, Skb K, Markaz, and Aabar experienced the most substantial declines. It’s worth noting that the Stock Exchange attracted new foreign investments totaling 93.3 million dinars in the first five months of 2024.

This was supported by active purchasing operations from institutions and companies, resulting in net buying and selling transactions of about 96.1 million dinars. Institutions and companies made purchases amounting to 800.5 million dinars, with sales totaling 704 million dinars. On the other hand, net sales by individuals amounted to approximately 3.6 million dinars, with purchases totaling 140.9 million dinars and sales around 144.6 million dinars. Additionally, net purchases by foreign investment funds reached about 813 thousand dinars. These funds made purchases totaling 3.4 million dinars, compared to sales of 2.6 million dinars.

By Mahmoud Shendi
Al-Seyassah/Arab Times Staff

This news has been read 460 times!

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