The Kuwait Stock Exchange (KSE) saw a modest rise in its market value during the first week of Ramadan, gaining KD 105 million or 0.2%, reaching a total market value of KD 48.05 billion. This growth follows a mixed performance of the market indices, which were influenced by limited profit-taking activities on leading stocks.
Liquidity levels saw a notable increase during this period, with total liquidity for the week reaching KD 583 million, averaging KD 116 million per day. The liquidity was concentrated around shares from several key companies, including Oula Fuel, M. Aamal, Kuwait Finance House, National Bank of Kuwait, Kuwait Projects Company, and Zain. Notably, Monday’s trading session saw the highest liquidity, with KD 147 million in trades.
Market activity saw fluctuations over the course of the week. The market initially gained KD 235 million at the start of the week, with subsequent increases in the next session adding another KD 189 million. However, on Tuesday, the market value saw a dip of KD 48 million, followed by a small recovery of KD 6 million on Wednesday. The week closed with a decline of KD 277 million, which ultimately limited the total weekly gain to KD 105 million.
Foreign ownership in first-market shares showed a slight decrease. As of March 5, foreign investors held approximately KD 6.09 billion in first-market shares, a 0.5% decrease from the previous week’s value of KD 6.13 billion. Despite this, foreign dealings in the first market were balanced between buying and selling.
In summary, while liquidity increased and foreign participation remained steady, profit-taking pressures led to a mixed market performance, resulting in a modest overall gain for the Kuwait Stock Exchange during the first week of Ramadan.
