30/01/2024
649 times read
30/01/2024
649 times read
KUWAIT CITY, Jan 30: For the second consecutive trading session, the primary indices of the Boursa Kuwait encountered downward pressure yesterday, leading to a 0.33 percent decline in the general market index. It concluded at 7307.24 points, marking a decrease of 24.33 points, reports Al- Jarida daily. The liquidity in the market increased to 56.3 million dinars compared to yesterday’s 50 million dinars. The trading activity encompassed 194.3 million shares, involving 12,495 transactions and featuring 125 listed shares. Among these, 43 shares recorded gains, 67 experienced losses, and 15 remained unchanged. Simultaneously, the Premier Market Index witnessed a 0.43 percent decrease, losing 34.94 points and closing at 8,014.99 points. The liquidity level for this index reached 32.8 million dinars.
The trading volume amounted to 97.2 million shares traded through 6,615 deals, involving 31 listed shares. Out of these, seven showed gains, 20 incurred losses, and four remained unchanged. In contrast, the Main Market index gained 0.06 percent, or 3.30 points, closing at 5968.48 points. Liquidity reached 23.4 million dinars, with 97.2 million shares traded in 5,880 transactions. There were 94 shares listed, with 36 gaining, 47 losing, and 11 remaining unchanged. Despite a strong initial trading performance driven by significant liquidity and IFA share trading, uneven growth persisted as pressure and profit-taking impacted leading stocks, particularly KFH and Agility. This trend continued throughout the session.
While IFA shares, IFA Hotels, and Systems showed increases, Arzan, Oula Takaful, and Kuwait Real Estate shares experienced declines. Notably, the IFA shares dominated liquidity, contributing to a significant total of 56 million dinars. IFA shares were the most liquid, approaching 12 million dinars, representing 20 percent of the total liquidity volume. Although small and medium-sized stocks, supporting the indices, saw a decrease in trading activity, IFA provided support to the main market index, achieving limited growth. However, the session concluded in red, marked by evident selling operations in leading stocks that diminished during the last quarter of an hour and the auction period. The stocks managed to recover some of their losses.