Boursa Kuwait’s market capitalization fell 3.72% in October to KD50.63 billion, a loss of about KD1.96 billion from KD52.58 billion at the end of September, according to month-end figures reported by Mubasher after Thursday’s close.
Thursday was the last trading session of the month.
The Main Market index led the declines, falling 7.03%, or 639.79 points, to 8,454.85 points over the month. The Main Market 50 index fell 7.73% to 9,423.62 points.
The Premier Market index fell 3%, or 275.38 points, to 8,892.55 points. The All-Share index fell 3.71%, or 325.39 points, to 8,453.99 points.
Trading slows
Trading value fell 39.59% from September to KD1.48 billion. Volume fell 39.87% to 5.58 billion shares, and the number of trades fell 30.73% to 426,370.
Eleven sectors fell over the month, led by health care, which dropped 41.94%. Consumer goods rose 1.76% and energy rose 0.11%.
Weekly gain
The market ended a run of five straight weekly declines, with the Premier Market index rising 1.94% this week.
Raed Diab, senior vice president of investment research and strategy at Kamco Invest, said selling pressure in October was tied to rising concern about a renewed confrontation between Iran and the United States.
He said the final week of the month recovered close to half of the market value lost earlier. Nine-month results released so far, including from six banks, had been good, he said, but most companies have yet to report.
On Thursday alone, the All-Share index fell 0.43% to 8,453 points, and trading value fell 17.4% from Wednesday to KD81.1 million, Al Jarida reported.
