KUWAIT CITY, Jan 16: Stock market indices closed yesterday's session with mixed trading, coinciding with a surge in liquidity to 91.43 million dinars, marking its highest level in 10 months.

This increase follows the peak of 111.26 million dinars on Tuesday, March 16, 2022. The premier market dominated the session's liquidity, comprising 53.9 percent at a value of 49.3 million dinars, while the main market contributed 46 percent, amounting to 42.13 million dinars.

Although leading stocks experienced selling pressure, the main market, particularly IFA Group shares, exhibited notable activity. In the main market, 12 stocks reached their maximum limit, and 7 stocks accounted for approximately 47.9 percent of the total market liquidity. These stocks include IFA, Snam, Kuwait Real Estate, Your Home, Investments, and Arzan.

The surge in purchasing liquidity stems from investor optimism about the financial results of banks and listed companies for the fiscal year 2023. Expectations of continued profit improvement, following a strong performance in the first nine months of the previous year, fuel traders' hopes for robust dividends.

At the session's conclusion, the market value increased by 0.03 percent, reaching 14 million dinars, rising from 42.89 billion dinars in Monday's session to 42.907 billion dinars in yesterday's session.

The general index rose by 0.03 percent and 2.2 points, from 7263.5 points to 7265.8 points. The first market increased by 0.3 percent and 24.5 points, moving from 7986.9 points to 7962.4 points.

The main index saw a rise of about 1.3 percent and 77.7 points, climbing from 5876.6 points to 5954.4 points. The main 50 index jumped by 1.5 percent and 88.5 points, rising from 5794.3 points to 5882.86.

Liquidity for the session increased by 24.8 percent, surging from 73.2 million dinars in Monday's session to 91.4 million dinars. Trading volumes also saw a 32 percent increase, rising from 305.2 million shares to 402.9 million shares, while the number of deals grew from 17.1 thousand deals to 21.2 thousand deals.

By Ahmad Fathi

Al-Seyassah/Arab Times Staff