Stock market shows varied picture as General and Premier indices drop, Main Market rebounds
In a surprising twist of events, the Kuwait Stock Exchange (KSE) showcased a rollercoaster ride in its midweek session, touching highs and lows. While the general and premier market indices took a plunge, the main market index bounced back with a rebound. The trading floor witnessed an influx of activity, with a surge in liquidity, trading volume, and the total number of transactions.
The general market index saw a 0.17% dip, closing at 7,901, shedding 13.75 points. The premier market index, on the other hand, sank 0.30%, landing at 8,461, losing 25.50 points. On a positive note, the main market index managed to recover some ground lost in its previous session, gaining 0.43% to close at 7,219. These figures, as reported by Al-Jarida daily, reflect the ups and downs of the rout.
Total trading value soared by 6.2%, reaching KWD 107.8 million, with 459.1 million shares traded across 25,428 transactions. The premier market contributed KWD 69.2 million and 181 million shares, while the main market chipped in KWD 38.5 million and 278 million shares. The market capitalization slumped by 0.17%, settling at a total of KWD 47.22 billion.
Out of the 127 stocks in play, 46 saw a rise, while 73 took a tumble, and 8 remained steady. Sector-wise, four sectors positioned themselves for victory, with real estate and financial services leading the charge with gains of 0.87% and 0.69% respectively. However, seven sectors suffered losses, with energy and insurance topping the charts, slumping by 1.93% and 1.41% respectively.
In the race for the top traded stocks, KFH claimed the crown, exchanging KWD 11.4 million and 718 fils, followed closely by Business City in second place. Industries and NBK joined the race in third and fourth, while Zain rounded off the top five.
As for the star performers of the day, the consumer goods sector led the charge, rising by an impressive 11.79%, with other heavyweights like Unicap, United Financial Group, KMEFIC, and Al Ahlia Insurance also making significant strides. The downside, however, was equally dramatic, with the hotels sector taking the biggest hit, plummeting by 13.04%. Subscription, Markaz, Equipment, and yet another entry from Markaz followed suit, posting declines ranging from 6.04% to 9.4%.
When taking a closer look at the KSE's performance, it can be attributed to a multitude of factors, including sectoral fluctuations, economic trends, company-specific figures, and investor behavior. The overall results mirror a complex interplay of these elements, resulting in the intriguingjson mix seen in this session.
The Kuwait Stock Exchange (KSE) main market index rebounded after a dip in the previous session, closing at 7,219 with a 0.43% gain. The trading floor witnessed increased activity, with the total trading value reaching KWD 107.8 million. The consumer goods sector was the star performer of the day, rising by 11.79%. On the other hand, the hotels sector took the biggest hit, plummeting by 13.04%. These fluctuations in different sectors can be attributed to various factors like economic trends, investor behavior, and company-specific figures, painting a complex picture of the finance industry in Kuwait.
