Kuwait Stock market registers fourth consecutive session of decline

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KUWAIT CITY, March 20: The red trend persisted in the main indices of the Kuwait Stock Exchange for the fourth consecutive session. The general market index experienced a loss of 0.44 percent, equivalent to 32.74 points, closing at 7375.30 points, reports Al-Jarida daily. The liquidity surged to 37.4 million dinars, with 131.3 million shares traded through 9814 transactions. Out of the shares traded, 40 gained, 59 lost, and 18 remained unchanged.

Meanwhile, the Premier Market Index dropped by 0.53 percent, or 43.42 points, closing at 8,074.10 points, with liquidity reaching 30.6 million dinars. A total of 83.4 million shares were traded through 6,716 transactions, with 33 shares traded, of which only 10 gained, 17 lost, and 6 remained unchanged. Conversely, the main market index saw a slight increase of 0.02 percent, or 1.49 points, closing at 6,082.74 points, with liquidity amounting to 6.7 million dinars. A total of 47.9 million shares were traded through 3,098 transactions, with 84 shares traded, 30 gaining, 42 losing, and 12 remaining unchanged.

The beginning of trading witnessed a significant decline in liquidity, reaching the lowest level of opening liquidity at less than 400 thousand dinars. Although leading stocks like “NBK”, KFH, and Agility initially showed stability, selling pressure caused a clear decline, particularly in KFH. However, the National Bank recorded an increase throughout most of the session. Trading in speculative stocks was sluggish, with most recording losses except for “GFH” stock and some projects and ship stocks.

The auction period saw 600 thousand shares offered at the minimum amount for Agility and a quarter of a million shares at the building level, contributing to increased liquidity and losses at the general and primary market indices. Across the Gulf Cooperation Council countries, market index performances varied. Oman’s market index witnessed clear gains of over 1.2 percent, while Saudi and Bahrain market indexes also gained, albeit to a lesser extent. However, the UAE index experienced clear losses, alongside the Kuwaiti and Qatari markets. Oil prices remained stable in the red, with marginal losses, trading at $86.6 per barrel of Brent standard

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