THE STOCK MARKET CONSOLIDATES AND REDUCES ITS LOSSES TO 70 MILLION DINARS

  • 21/06/2022

Kuwait City: The Kuwait Stock Exchange reduced its market losses in yesterday's trading session to 70 million dinars, down 0.16%, compared to about 1.4 billion dinars in the session the day before yesterday, which witnessed sharp declines, and the value amounted to 42.54 billion dinars, down from 42.61 billion. 


The Kuwait Stock Exchange consolidated in yesterday's session to a large extent through the return of the relative balance in trading, after the selling tendency has calmed down relatively, which is evident from the rise of 47 shares in yesterday's session compared to 19 shares in the day before yesterday, while shares of 72 companies declined compared to 104 The day before yesterday, the shares of 9 companies were stable, and the shares of 31 companies were not traded.

The losses of the Kuwait Stock Exchange came yesterday in the context of the continued deviation of most of the region’s markets to the decline in the impact of the decline in oil prices in the global market by about 6%. From its losses to reach 0.4% yesterday, as well as Bahrain by 0.08%, while the Muscat market turned to gains by 0.4%, and the biggest losses yesterday were for the Dubai Financial Market by 1.6% and the Abu Dhabi market by 1%.

Liquidity increased by 31% at the end of yesterday’s trading, with a total of 74.1 million dinars, up from 56.4 million dinars. It focused on the leading shares, especially banking, topped by the share of KFH with 17.1 million dinars, followed by the National Bank with 8.5 million dinars, then Agilty with 6.2 million dinars, and Ahli United by 5.3 million dinars, and notables 4.7 million dinars. 

Trading volumes increased by 22.7%, with 258.8 million shares traded, up from 210.8 million shares, topped by A'ayan with 38.3 million shares. Sectorally, the weighted indices of 9 sectors, led by consumer goods, declined by 4.5%, followed by the technology sector by 2.2%, while the indices of 3 sectors led by energy increased by 0.27%.

The premier market index declined by 0.19%, losing 15.4 points, to reach 7,928 points. The main market index also decreased by 0.28%, losing 15.4 points, to reach 5593 points, and the general market index decreased by 0.21%, losing 15.2 points, to reach 7,162 points.

It is expected that the stock market's buying momentum will return in the coming sessions in light of the decline in the prices of many shares to attractive levels for purchase, especially with the approaching end of the first half of this year.

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