13/05/2024
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13/05/2024
728 times read
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KUWAIT CITY, May 13: The Kuwait Stock Exchange saw a robust start to the week, marked by significant gains across its indices, accompanied by heightened levels of liquidity and activity. The general market index surged by 1.39 percent, adding 98.40 points to reach a closing level of 717.45 points. Liquidity surpassed 100 million dinars for the first time this year, totaling 102 million dinars, with a trading volume of 360.7 million shares conducted through 15,964 transactions. Among the 128 traded shares, 67 witnessed gains, 50 experienced losses, and 11 remained unchanged.
The Premier Market Index also witnessed notable growth, climbing by 1.68 percent, or 128.62 points, to close at 7846.39 points. Liquidity in this segment amounted to 84.6 million dinars, with a trading volume of 210.4 million shares executed through 8718 deals. Out of the 33 shares traded, 25 recorded gains, 5 incurred losses, and 3 remained unchanged.
Conversely, the main market index experienced a marginal decline of 0.03 percent, dropping by 1.57 points to settle at 5971.53 points. Liquidity stood at 17.4 million dinars, with 150.3 million shares traded through 7246 transactions. Of the 95 shares traded, 42 saw gains, 45 witnessed losses, and 8 remained unchanged.
Trading at Boursa Kuwait commenced with substantial growth and liquidity, exceeding 10 million dinars during the opening session. Purchasing activities primarily targeted leading stocks such as KFH, Watani, Khaleej, and Senaat, with smaller percentages allocated to Agility and Zain. While KFH initially reached 860 fils before experiencing profit-taking, stocks like the National Bank saw notable growth, recording a 3.7 percent increase. Gulf Bank also observed a 4 percent surge, with positive developments noted in Future Kids, Unicap, and other small and medium-sized stocks.
Overall, the market exhibited positive momentum, with gains slightly tapering towards the end of the session. Despite pressure on shares of KFH, Agility, and Zain post-trading, the general market index closed with a 1.4 percent increase. Meanwhile, the performance of GCC markets varied, with Kuwait, Qatar, and Muscat witnessing gains, while Saudi Arabia and Bahrain experienced declines. Oil prices remained stable, with Brent crude closing at $82.7 per barrel on Friday evening.