Boursa Kuwait’s general index ‘inches up’ in trading session
KUWAIT CITY, April 23: The Boursa Kuwait concluded its trading session on Tuesday with the general index climbing by 2.79 points, reaching 7074.70 points, marking a 0.04 percent increase. A total of 17,906 cash transactions were executed, trading a volume of million shares valued at 53.7 million dinars (approximately 163.7 million dollars), reports KUNA.
The main market index also saw an uptick, rising by 13.51 points to 5930.31 points, a 0.23 percent increase. This movement was fueled by the trading of 67.4 million shares across 5602 cash transactions valued at 9.5 million dinars (about 28.9 million dollars).
Similarly, the Premier Market Index experienced a modest rise of 0.09 points, reaching 7719.77 points. The trading session saw 110.3 million shares exchanged through 12,304 deals, valued at 44.11 million dinars (approximately 134.5 million dollars).
Concurrently, the Main 50 index recorded a slight increase of 0.66 points, reaching 5779.40 points, marking a 0.01 percent rise. Trading activity involved 47.9 million shares through 3143 cash transactions, with a total value of 5.8 million dinars (about 17.6 million dollars).
On Monday, Boursa Kuwait indices showed positive growth for the third consecutive session as the general market index increased by 0.21 percent, closing at 7071.91 points, with liquidity totaling 55.7 million dinars, reports Al-Jarida daily.
The trading activity saw 204.5 million shares exchanged through 15,613 transactions. Of the 123 shares traded, 53 gained, 55 lost, and 15 remained unchanged. Similarly, the Premier Market Index rose by 0.11 percent to close at 7,719.68 points, with liquidity at 47 million dinars. Trading involved 127.4 million shares across 11,167 transactions, with 33 shares traded. Among these, 19 gained, 11 lost, and 3 remained unchanged.
The main market index also saw an increase of 0.71 percent, closing at 5,916.80 points, with liquidity amounting to 8.7 million dinars. Trading activity encompassed 77 million shares traded through 4,446 transactions. Of the 90 shares traded, 34 gained, 44 lost, and 12 remained unchanged.
Overall, the trading session began with an increase in liquidity, although slightly lower than the previous two sessions. Trading stabilized at around one million dinars during the initial minutes, indicating continued positive sentiment among investors.
It focused, as usual, on Agility, then KFH, National Real Estate, and National Bank, but Agility and National shares suffered. Real estate, while KFH, NBK, and some other leading stocks witnessed purchases, the most notable of which was Boubyan Petrochemicals, which is awaiting its annual earnings announcements after the end of its fiscal year, which ends on March 31 every year. Most stocks also witnessed good growth, such as buildings, Aad National Real Estate, Kuwait Real Estate, and Rasiyat, while pressure and decline were on Agility stocks, as it lost 14 fils.
KFH stock witnessed clear profittaking operations and some other medium-sized stocks, so that the session ended in the green for the third time in a row, and also awaiting the mid-week session today. To update the strength of the market momentum during this period and change the trend from a neutral trend, decline, and the end of a correction process to a new phase, purchases, and building new positions.
The red color prevailed in the performance of the GCC market indices during the second sessions of the week, and the limited rise in the Kuwait and Dubai indices was only in limited percentages, while the rest declined in varying percentages, and oil prices were trading in the red, as the Brent benchmark fell to the level of $86.8 per barrel.