STOCK MARKET RETURNS TO GAINS AND ITS MARKET VALUE GAINS 595 MILLION DINARS

  • 26/08/2022

Kuwait City: The Kuwait Stock Exchange broke the wave of weekly losses that lasted for two consecutive weeks, to end the week's trading in achieving collective gains at the level of indicators and variables. Or medium and small in the main market, which encouraged dealers to return to buy again.


The buying trend during the week's trading was reinforced by the return of Kuwaiti oil prices to rise above the $100 level, after it had lost this level recently, as the Kuwaiti stock market, like other Gulf financial markets, is affected by oil prices, as it is the main commodity on which the state's general budget depends.

The positive factors that could not be overlooked and that reinforced the positive activity of the market, the state of momentum among the “KFH” share throughout the week's sessions, with the implementation of the timetable approaching to KFH's offer to acquire 100% of the shares of Ahli United Bank - Bahrain, following the suspension of trading on the share. Al Ahli United, upon his request, the market responds positively to such large deals and enjoys remarkable activity.

By the end of the week's trading, the market value returned to achieving gains, by 1.3%, as it added 595 million dinars at the end of this week, bringing the market value to 46.23 billion dinars, up from 45.63 billion dinars last week.

The liquidity flowing into the market will witness an increase at the end of the week's trading by 5%, with a weekly outcome of 308 million dinars, with a daily average of 61.5 million dinars, up from 294 million dinars last week, with a daily average of 59 million dinars. Significant rates in all sessions, whether that witness a large buying interest on the stock or that witness exchange operations to take profits after the stock achieved nearly 9% gains during 4 sessions, reaching 940 fils before to 904 fils falling at the end of yesterday's session.

While trading volumes decreased by 22%, as the volume of traded shares amounted to 1.318 billion shares, compared to 1.681 billion last week.The stock market ended the week's trading with a collective increase in the performance of the indices, as follows:

The Premier Market Index rose by 1.4%, achieving 125 points, to reach 8,705 points, up from 8,580 points at the end of last week.

* The main market index increased by 0.7%, adding 42 points, to reach 5,863 points, up from 5,821 points.

The general index rose by 1.3%, with gains of 100 points, to reach 7,785 points from 7,685 points.

The value of foreigners on the shares of Kuwaiti banks rose during the weekly trading to 3.44 billion dollars, from 3.37 billion dinars last week, due to the increase in the price value of a number of shares, led by the Kuwait Finance House (KFH) , the National Bank of Kuwait, Burgan and the Gulf.

According to a statistic on the percentages of foreign ownership in Kuwaiti banks on August 24, foreign transactions were characterized by balance during the week, as ownerships increased in the shares of 3 banks, namely, Baitak, Burgan and Warba, while the percentages of ownership decreased in 4 banks, namely the Gulf, Kuwait International Bank "KIB" and Al-Ahly The United and Boubyan Bank, and settled in 3 banks: Al-Watani, Al-Tijari, and Al-Ahly.

In detail, the percentage in “KFH” increased by 0.01% to reach 11.35%, with a value of 969.6 million dinars, and in Burgan Bank by 0.03%, by 17.70%, with a value of 143.7 million dinars, and Warba rose by 0.01%, reaching a total percentage of 3.99%, with a value of 19.8 million dinars. Dinar.

Foreign ownership in Gulf Bank decreased by 0.01% or 16.35%, with a value of 186.2 million dinars, and decreased in Kuwait International Bank “KIB” by 0.15% to 5.85%, with a value of 15.2 million dinars, and decreased in Boubyan by 0.01% to reach 5.75%, with a value of 186.2 million dinars. dinars, and decreased in the United by 0.01%, by a total rate of 0.40%, with a value of 2.7 million dinars. While it is stabilized in the National Bank of Kuwait at 23.76%, with a value of 1.914 billion dinars, and it also stabilized in Al-Tijari at 0.06%, with a value of 596 thousand dinars, and it also stabilized in Al-Ahly at 1.24%, with a value of 7.6 million dinars.

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