The Kuwait Stock Exchange (KSE) experienced a modest increase in market value during the first week of Ramadan. The market gained KD 105 million, raising its total value to KD 48.05 billion. This rise occurred despite a mixed performance of the market indices, reflecting some profit-taking activities on stocks that had previously gained in value.
Liquidity on the exchange surged during the week, with total trading volumes reaching KD 583 million. This amounted to an average of KD 116 million in daily trades. Key companies, including Oula Fuel, M. Aamal, Kuwait Finance House, National Bank of Kuwait, Kuwait Projects Company, and Zain, saw significant activity. Monday’s session led the pack with the highest liquidity at KD 147 million.
Throughout the week, market value fluctuated. The market opened with a positive note, gaining KD 235 million. In the following session, it added KD 189 million, continuing the positive momentum. However, the market faced a slight dip on Tuesday, losing about KD 48 million. It then recovered with a modest gain of KD 6 million on Wednesday. The week ended with a slight downturn of KD 277 million, which trimmed the overall gain to KD 105 million.
Foreign participation in the stock exchange showed a slight decrease. By March 5, foreign ownership in first-market shares amounted to around KD 6.09 billion. This marked a 0.5% drop from the previous week’s KD 6.13 billion. Despite this minor decrease, foreign dealings remained balanced, with equal activity in both buying and selling.
In conclusion, Kuwait’s stock market saw a modest growth in the first week of Ramadan. Although liquidity surged, the market faced fluctuations, leading to mixed results. As the market navigates these shifts, analysts will continue to monitor foreign investment and market performance closely. The KSE’s modest growth reflects steady progress amidst the volatility of the current trading environment.
